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STOCK EXCHANGE RELEASE 30 Jul 2003

JAAKKO PÖYRY GROUP RECEIVES EUR 14 MILLION PULP MILL ENGINEERING PROJECT IN BRAZIL

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           July 30, 2003 at 09.15 a.m.

JAAKKO PÖYRY GROUP RECEIVES EUR 14 MILLION PULP MILL ENGINEERING PROJECT
IN BRAZIL

Jaakko Pöyry Tecnología Ltda, which belongs to the Jaakko Pöyry Group's
Forest Industry business group, has been awarded engineering contracts
by Veracel Celulose S.A. for their pulp mill project in Brazil. The
value of the assignment amounts to approximately EUR 14 million, of
which EUR 4 million is included in the June 30, 2003, order stock.

The assignment consists of owners engineering services to assist Veracel
in the pulp mill project implementation and of complete engineering,
project and construction management services for the interconnections
and complementary plants of the pulp mill. The new pulp mill will have a
capacity of 900 000 tons a year. It is scheduled to start up in mid
2005.

Veracel Celulose S.A. is owned by Aracruz Celulose S.A. and Stora Enso
Oyj. Jaakko Pöyry has a long lasting business relationship with both the
owners and has participated in implementation of several of their major
projects in Brazil as well as globally.

The Forest Industry business group, operating under the brand name
Jaakko Pöyry, had net sales of EUR 175 million in 2002. The Forest
Industry business group has offices in 18 countries and employs some
2150 experts worldwide.

JAAKKO PÖYRY GROUP OYJ


Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Deputy to President and CEO


Additional information by:
Timo Kytölä, Project Supervisor, Jaakko Pöyry Oy
Tel. +358 40 551 9983
Mario Retamal, Project Director, Jaakko Pöyry Tecnología Ltda
Tel. +55 11 3472 6359

www.poyry.com


DISTRIBUTION:
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