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PRESS RELEASE 30 Sep 2003

JAAKKO PÖYRY GROUP INVESTS IN TELECOMMUNICATIONS KNOW-HOW


Jaakko Pöyry Group Oyj invests in telecommunications know-how by acquiring an additional 50 per cent stake in EPStar Oy from Elisa Oyj. Following the acquisition, Jaakko Pöyry Group Oyj owns 80 per cent of EPStar Oy, which focuses on consulting services and network planning for the telecommunications sector.

Telecommunications-related business is one of the Jaakko Pöyry Group's Infrastructure & Environment business group's main growth areas. EPStar complements the business group's range of services in the planning of telecommunications networks, project implementation and streamlining of network operations.

The acquisition is part of the business group's strategy of life cycle engagement and deepens its knowledge in implementing network projects. Synergies are generated in roll-out, GSM-R and traffic control projects, as well as in authorities' and large clients' internal telecommunications network projects. EPStar gets access to the Jaakko Pöyry Group's global network of offices in 35 countries and the Group's experience of telecommunications projects in more than 100 countries.

EPStar's net sales were EUR 2.5 million in 2002 and it employs at present 25 telecommunications experts. The company has offices in Helsinki and Tampere, Finland. Before the acquisition, Jaakko Pöyry Group Oyj held a 30 per cent stake in EPStar Oy. Elisa Oyj and the management of EPStar Oy will remain minority shareholders with 17.5 and 2.5 per cent stakes in the company, respectively.

The Jaakko Pöyry Group's Infrastructure & Environment business group uses the brand name Jaakko Pöyry Infra. Its net sales for 2002 were EUR 123 million. The business group has offices in 12 countries and it employs at present 1500 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations Manager

Additional information by:

Teuvo Salminen, Deputy to President and CEO, Jaakko Pöyry Group Oyj

Tel. +358 9 8947 2872, +358 400 420 285

Risto Laukkanen, President, Infrastructure & Environment business group, Jaakko Pöyry Group Oyj

Tel. +358 40 580 8496

www.poyry.com

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