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PRESS RELEASE 9 Feb 2004

JAAKKO PÖYRY GROUP AWARDED HOLMEN PAPER'S PAPELERA PENINSULAR PAPER MACHINE PROJECT


Jaakko Pöyry Oy, which is part of the Jaakko Pöyry Group's Forest Industry business group, has received a notice to proceed with the engineering of Holmen Paper's Papelera Peninsular paper machine project in Spain. The Board of Holmen AB decided on February 3, 2004 to go ahead with the previously announced project.

Jaakko Pöyry's assignment includes implementation engineering for the paper machine. The new PM62 will produce 300 000 t/a of 100 per cent recycled fibre-based newsprint grades and it is scheduled to start up at the beginning of 2006.

The Forest Industry business group, operating under the brand name Jaakko Pöyry, had net sales of EUR 175 million in 2002. The Forest Industry business group has offices in 18 countries and employs some 2200 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations Manager

Additional information by:

John Lindahl, President, Jaakko Pöyry Oy

Tel. +358 9 8947 2951

Jaakko Pöyry Group Oyj's stock exchange notice on March 15, 2002

www.poyry.com

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