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STOCK EXCHANGE RELEASE 5 Oct 2001

JAAKKO PÖYRY GROUP AWARDED EXTENSION OF HIGH SPEED RAILWAY CONTRACT IN TAIWAN

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           October 5, 2001 at 10.00 a.m.

JAAKKO PÖYRY GROUP AWARDED EXTENSION OF HIGH SPEED RAILWAY CONTRACT
IN TAIWAN

Electrowatt Infra, which is part of the Jaakko Pöyry Group's
Infrastructure & Environment business group, has been awarded an
extension of the Taiwan high speed railway project by Taiwan High
Speed Rail Corporation (THSRC). Electrowatt Infra will continue as
the Independent Checking Engineer/Independent Site Engineer
(ICE/ISE) together with International Railway Engineering Group
(IREG). The assignment will be completed in June 2003. The value of
the contract amounts to EUR 9.8 million.

The Taiwan high speed railway is a EUR 15.4 billion project and is
currently one of the most challenging Build-Operate-Transfer (BOT)
transport projects in the world. The owner, THSRC, is a joint
venture of major Taiwanese industrial and financial companies.

The ICE/ISE services have been executed by IREG, which is a joint
venture between Electrowatt Infra of Switzerland, the UK consultant
Mott MacDonald, DE-Consult of Germany and the French consultant
SYSTRA. IREG's total contract value of EUR 39.1 million for the
extension covers a 2-year period with the option for continuing
until the new railway is brought into service in late 2005.
Electrowatt Infra has a 25 % share in this contract (EUR 9.8
million) and serves also as the financial co-ordinator of the IREG
consortium.

JAAKKO PÖYRY GROUP OYJ


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

Additional information by:

Roger Clifford, Head of Electrowatt Infra Asia, Taiwan
Tel. +886 2 2721 0131
Fax +886 2 2721 5128
E-mail: rc@ewe.net

Johann Schmieder, Executive Vice President, Jaakko Pöyry Infra,
Germany
Tel. +49 7621 930045
Fax +49 7621 930033
E-mail: schd@bpi-consult.de

Stock Exchange Notice, Jaakko Pöyry Group Oyj, October 13, 1999

www.poyry.com

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