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STOCK EXCHANGE RELEASE 14 Dec 2001

JAAKKO PÖYRY GROUP AWARDED EUR 8 MILLION DISTRICT HEATING PROJECT IN CHINA

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           December 14, 2001 at 12.00 a.m.

JAAKKO PÖYRY GROUP AWARDED EUR 8 MILLION DISTRICT HEATING PROJECT
IN CHINA

Electrowatt-Ekono Oy, which is part of the Jaakko Pöyry Group's
Energy business group, has been awarded a district heating project
by the Beijing District Heating Group in China. The value of the
contract amounts to EUR 8 million.

The project consists of three 116 MW natural gas-fired boilers,
including auxiliary equipment as well as engineering, training and
commissioning services. Noviter Oy of Finland is responsible for the
design of the boilers. The boilers will be installed in the
Shuahgyushu district heating plant in the northern parts of Beijing.
The project will be completed during 2002.

"The project is a continuation of the delivery of a similar plant to
the same client two years ago, and the client has been very
satisfied with the previous delivery. The intense growth of the
energy market in China, especially in the district heating sector,
has also given a boost to this project. The growth is especially
driven by the Olympic Games to be arranged in China in 2008," says
Jorma Kotakorpi, Vice President, Sales and Marketing, of Electrowatt-
Ekono Oy.

The Energy business group, operating under the brand name
Electrowatt-Ekono, had net sales of EUR 181 million in 2000.
Electrowatt-Ekono has offices in 20 countries and employs 1250
experts worldwide.

JAAKKO PÖYRY GROUP OYJ


Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Executive Vice President



Additional information by:
Jorma Kotakorpi, Vice President, sales and marketing,
Electrowatt-Ekono Oy
Tel. +358 9 4691 557, +358 400 800 567

Ari Asikainen, President, Electrowatt-Ekono Oy,
Tel. +358 9 4691 476, +358 400 816 633

www.poyry.com



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