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STOCK EXCHANGE RELEASE 1 Oct 1999

JAAKKO PÖYRY GROUP'S RESTRUCTURING ARRANGEMENTS APPROVED BY THE BRAZILIAN AUTHORITIES


The Brazilian authorities have approved the restructuring

arrangements publicised in a Stock Exchange Notice dated August

12, 1999. According to this notice, Jaakko Pöyry Group Oyj and

the other owners of Jaakko Pöyry Engenharia Ltda reached

agreement on how to divide the business activities of this

Brazilian engineering company between its owners. Consequently,

the restructuring arrangements have officially become effective.

Jaakko Pöyry Group will concentrate on forest industry and Jaakko

Pöyry Engenharia will direct its business activities into other

fields.

Jaakko Pöyry Tecnologia Ltda will be responsible for the Group's

forest industry business in Brazil, employing about 50 people in

its offices in Sao Paulo and Vitoria. The company's range of

services covers all sub-areas, from forest industry consulting to

detailed engineering of pulp and paper mills. Mr. Carlos A.

Farinha e Silva has been appointed President of the company. He

has previously served as Director of Jaakko Pöyry Engenharia

Ltda's forest industry division.

As part of the agreement, Jaakko Pöyry Group has acquired a 100 %

shareholding in Jaakko Pöyry Chilena Ltda, which is active in the

forest industry business. The company employs about 30 people in

its offices in Santiago and Concepción in Chile.

In connection with the restructuring of Jaakko Pöyry Engenharia's

business activities, Jaakko Pöyry Group has increased its

shareholding in Jaakko Pöyry Argentina S.A. to 60 %. Employing

about 50 people, Jaakko Pöyry Argentina S.A. is mainly active in

infrastructure-related projects.

Jaakko Pöyry Engenharia Ltda will be allowed to use its present

name for a period of three years after which it must change its

name.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen

Teuvo Salminen

For further information please contact:

Mr. Teuvo Salminen, Executive Vice President, Jaakko Pöyry Group

Oyj,

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

www.poyry.com

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