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PRESS RELEASE 1 Jun 2004

JAAKKO PÖYRY GROUP OPENS A FOREST INDUSTRY CONSULTING OFFICE IN STOCKHOLM IN AUGUST 2004


Jaakko Pöyry Consulting, which is part of the Jaakko Pöyry Group's Forest Industry business group, will open an office in Stockholm, Sweden in August 2004 to enhance its services to the Swedish forest industry cluster.

The consulting office will add further strength to the existing Jaakko Pöyry operations in Sweden, currently employing over 200 staff in ten offices throughout the country.

"The Swedish forest industry plays an important role globally and we foresee significant developments here in the years to come. We wish to be close to our clients in Sweden to provide the best possible service to the Swedish forest sector and industry," says Jukka Nyrölä, President of Jaakko Pöyry Group's Forest Industry business group.

"With the growing demand for our services in strategy and business processes we find it increasingly important to have local representation that can provide continuity in relations and easy access to the specialist resources of our global network of offices," comments Tapio Korpeinen, Managing Partner and President, JP Management Consulting (Europe) Oy.

Jaakko Pöyry Consulting has a long history of service to businesses and organisations in Sweden. "We are now seeking to enhance our service capability through an increased focus on the Swedish market. The office in Stockholm will be staffed by senior consultants, all of whom have experience of working with Swedish clients and who have full access to the global know-how of Jaakko Pöyry Consulting," says Jan Wintzell, President, JP Management Consulting (Europe) AB, Stockholm.

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

Teuvo Salminen

Deputy to President and CEO

Additional information by:

Jukka Nyrölä, President, Forest Industry business group, Jaakko Pöyry Group Oyj

Tel. +358 9 8947 2010, +358 40 500 9706

Tapio Korpeinen, Managing Partner and President, JP Management Consulting (Europe) Oy

Tel. +358 9 8947 2042, +358 40 730 0090

Jan Wintzell, President, JP Management Consulting (Europe) AB, Stockholm

Tel. +44 208 770 3221 or +44 7785 396438

This press release can be obtained in Swedish from

Tina Ekholm, Tel. +358 9 8947 2629,

DISTRIBUTION:

Sector media, Sweden