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STOCK EXCHANGE RELEASE 5 May 2003

JAAKKO PÖYRY GROUP OYJ: - SHARES SUBSCRIBED WITH WARRANTS

HEX HELSINKI     SECURITIES EXCHANGE   RELEASE 120/2003
                 SHARES                5 May 2003

JAAKKO PÖYRY GROUP OYJ: - SHARES SUBSCRIBED WITH WARRANTS

A total of 8 650 Jaakko Pöyry Oyj's shares have been
subscribed with the Jaakko Pöyry Oyj's warrants attached
to the bond with warrants issued in 1998. The shares will
be traded on the Helsinki Exchanges as old shares as of 6
May 2003.

Identifiers of Jaakko Pöyry Oyj's share as of
6 May 2003:

Trading code:                       JPG1V
ISIN code:                          FI0009006696
Number of shares:                   13 800 251


HELSINKI EXCHANGES
Pekka Peiponen