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STOCK EXCHANGE RELEASE 21 Mar 2000

JAAKKO PÖYRY GROUP COMMISSIONED TO PROVIDE CONSULTANCY SERVICES FOR DANANG WATER SUPPLY PROJECT IN VIETNAM


Following international competitive bidding, Soil and Water Ltd, a Jaakko Pöyry Group company, has been commissioned to provide construction management services for the Danang water supply project financed by the World Bank. Soil and Water Ltd will assist Danang Waterworks in managing this extensive and complicated project and in supervising contractors' works. The contract value is about EUR 3 million and the project will be carried out during the period 2001– 2004.

Danang City Waterworks will construct a water supply station and water treatment plant (120 000 m3/d) according to the design & build principle, including about 265 kilometres of transport and distribution pipelines. The waterworks' operating and maintenance capabilities will also be improved. The total investment is estimated at about EUR 40 million.

Danang is Vietnam's fourth biggest city (population about 500 000) and the most important administrative and economic centre in central Vietnam. During the Vietnam War, Danang became known as an important air base and scene of war. Now, in peacetime Vietnam, the city plays an important role in the country's development plans, and active efforts are being made to develop industry and tourism. This requires supporting investments into infrastructure.

Soil and Water Ltd's first assignment in Vietnam consisted of planning services for the Pha Rung shipyard in 1977. The company's biggest assignments in Vietnam include the water and sanitation projects in Hanoi (1984-1997) and Haiphong (1990-2000). The company's systematic marketing effort in Vietnam has been successful, and in addition to the above-mentioned Danang project Soil and Water Ltd has received two major projects during the current year:

“Ho Chi Minh City Administration Reform Project (UNDP)”. As a part of this UN-financed project, also the city's real estate administration system will be improved. The total value of the company's services for improving real estate administration amount to about EUR 380 000.

“Study on Sanitation Improvement Plan for Haiphong City (JICA/Nippon Koei)”. In this project, financed by development aid funds from Japan, a feasibility study will be carried out concerning development of the city's sanitation systems. The total value of Soil and Water Ltd's assignment is about EUR 200 000.

Vietnam will continue to be one of Soil and Water Ltd's most important export markets, and the next strategic step in the company's long-term marketing effort is the establishment of a representative office in Hanoi in April 2000.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen

Teuvo Salminen

For more information, please contact:

Jukka Noponen, President, Soil and Water Ltd

telephone. +358-40-587 4323

Ari Makkonen, Vice President water supply and sanitation, Soil and Water Ltd

telephone. +358-40-510 7117

www.poyry.com

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