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STOCK EXCHANGE RELEASE 3 Aug 1999

JAAKKO PÖYRY GROUP STRENGTHENS AND RENEWS ITS FOREST INDUSTRY CONSULTING ORGANISATION

Jaakko Pöyry Consulting business group, responsible for forest industry consulting within Jaakko Pöyry Group, is restructuring its organisation to further strengthen its capability to serve its global client base.

The Forest Industry Consulting business group will be divided into four global businesses:

- JP Management Consulting; comprising the strategic consulting services and divided into three geographical areas - Europe, Asia-Pacific, the Americas

- JP Capital International; consisting of the Group's investment banking services

- JP Operations Management; covering the Group's operations improvement services

- JP Development; comprising the Group's services to development organisations.

The key nominations in the new organisation coming into effect on August 2, 1999, are as follows:

- Dr Jaakko Pöyry has been appointed Honorary Chairman and continues his work developing client relationships.

- Mr Rainer Häggblom has been appointed Chairman and CEO responsible for development of the business group and its global client base.

- Mr David Walker has been appointed deputy to the Chairman and CEO and will continue as President and CEO of the management consulting business in Asia-Pacific and Chairman of JP Capital International Ltd.

- Mr Tapio Korpeinen has been appointed President and CEO of Jaakko Pöyry Consulting Oy, responsible for the management consulting business in Europe. He has been involved in management consulting tasks at McKinsey, as President for Jaakko Pöyry Consulting's North American office, and lately as Director at AT Kearney's Helsinki office.

- Ms Suvi Anttila has been appointed EVP and Deputy to Mr. Korpeinen.

Jaakko Pöyry Consulting Oy is the world's leading forest industry consultant, employing 290 persons in 14 countries worldwide.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen

Teuvo Salminen

For further information please contact:

Rainer Häggblom, Chairman and CEO Jaakko Pöyry Consulting Oy

Tel.+358 9 8947 2610, +358 40 5559 567

www.poyry.com

DISTRIBUTION:

Helsinki Exchanges

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