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PRESS RELEASE 10 Oct 2001

JAAKKO PÖYRY GROUP AWARDED TWO RAIL TRANSPORT CONTRACTS


Electrowatt Infra, which is part of the Jaakko Pöyry Group's Infrastructure & Environment business group, has been awarded rail transport contracts in Venezuela and Switzerland. The total value of the contracts is approximately EUR 4.4 million.

Electrowatt Infra Latin America has been awarded an extension of its contract for the light rail transport system in Valencia, Venezuela. The extension relates to supervision of the civil works and the services will be completed in autumn 2003. The value of the contract, awarded by Metro de Valencia, amounts to about EUR 3 million.

The company has, together with the local checking engineer VEPICA of Caracas, been the owner's consultant for the 6.5 km light rail transport system. So far, the service contracts awarded in connection with the light rail transport system in Valencia amount to a total of EUR 17 million, of which EUR 12 million to Electrowatt Infra.

Electrowatt Infra Switzerland has been awarded the preliminary design of the new railway line through the city centre of Zurich, Switzerland. The new railway line will be 11.8 km long of which more than 50% will be underground through the most developed parts of the city. The value of the contract amounts to approximately EUR 1.4 million.

The company will in a joint venture with the Zurich based engineering firm Basler & Hofmann Ltd. elaborate the preliminary design of two of a total of four design lots. The project with a total cost of about EUR 1.0 billion is co-financed by the Swiss Federal Railways (SBB) and the Canton of Zurich. The underground line will be brought into service by 2012.

JAAKKO PÖYRY GROUP OYJ

Satu Lyytinen

Investor Relations

Additional information by:

Gerhard Schmitz, Head of Electrowatt Infra Latin America, Brazil

Tel. +55 11 5189 6955

E-mail:

Mr. Lothar Garbe, Head of the Business Unit Tunnel and Transportation, Electrowatt Infra Ltd, Switzerland

Tel: +41 1 355 55 55

E-mail:

www.poyry.com

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