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STOCK EXCHANGE RELEASE 8 Mar 2004

JAAKKO PÖYRY GROUP AWARDED MONDI'S PM1 CONVERSION PROJECT AT MEREBANK PAPER MILL

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           March 8, 2004 at 1.00 p.m.

JAAKKO PÖYRY GROUP AWARDED MONDI'S PM1 CONVERSION PROJECT AT MEREBANK
PAPER MILL

Jaakko Pöyry Southern Africa (Pty) Ltd, which is part of the Jaakko
Pöyry Group's Forest Industry business group, has been awarded a
contract by Mondi Ltd for its PM1 conversion project at Merebank paper
mill in Durban, South Africa. The value of the contract exceeds EUR 5
million.

The contract covers engineering, procurement, construction management
and commissioning services for the implementation of the paper mill
conversion. The services will be performed by Jaakko Pöyry's offices in
South Africa, Finland and France. The rebuilt paper machine will produce
250 000 t/a of uncoated wood-free paper and is scheduled to start
production in 2005.

Jaakko Pöyry has a long-lasting business relationship with Mondi and
participates at present also in Mondi's Richards Bay pulp mill
expansion. Jaakko Pöyry has served as Mondi's engineering consultant
since the beginning of the 1980's.

The Forest Industry business group, operating under the brand name
Jaakko Pöyry, had net sales of EUR 176 million in 2003. The Forest
Industry business group has offices in 18 countries and employs some
2100 experts worldwide.

JAAKKO PÖYRY GROUP OYJ


Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Deputy to President and CEO


Additional information by:
Derrick Maurice, President, Jaakko Pöyry Southern Africa (Pty) Ltd,
Tel. +27 31 2500 300
Stefan Antell, Vice President, Jaakko Pöyry Oy
Tel. +358 9 8947 2344, +358 40 520 0262

www.poyry.com


DISTRIBUTION:
Helsinki Exchanges
Major media