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PRESS RELEASE 20 Jan 2005

JAAKKO PÖYRY GROUP AWARDED MAJOR PROJECT MANAGEMENT CONTRACT IN OLKILUOTO NUCLEAR POWER PLANT PROJECT

JP-Terasto Oy, which is a part of the Jaakko Pöyry Group's Infrastructure & Environment business group, has signed a contract with AREVA's joint subsidiary with Siemens, Framatome ANP, regarding the management and supervision of the civil construction works for the reactor building of the nuclear power plant to be built at Olkiluoto, Finland. The duration of the assignment is estimated to be about 3.5 years, involving the input of 10-20 experts.

Teollisuuden Voima Oy started the earth and excavation works at the nuclear power plant site already in spring 2004. Take-over of the construction site by Framatome ANP is foreseen soon, and the construction of the reactor building will be started when the construction licence has been obtained. Some of the civil contractors have already been selected.

This project will significantly improve JP-Terasto's market position in the industrial construction management sector. This is so far the largest individual assignment awarded to JP-Terasto. After the merger of the companies JP-Terasto and CMC-Yhtiöt, CMC Terasto Oy will have a staff of 250 professionals.

The Jaakko Pöyry Group's Infrastructure & Environment business group uses the brand name Jaakko Pöyry Infra. Its net sales for 2003 were EUR 139 million. The business group has offices in 15 countries and employs 1700 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Teuvo Salminen

Deputy to President and CEO

Additional information by:

Eero Raiski, Executive Vice President, JP-Terasto Oy

tel. +358 9 8947 3975, +358 40 546 7760

e-mail:

www.poyry.com

DISTRIBUTION:

Major media