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PRESS RELEASE 2 Oct 2002

JAAKKO PÖYRY GROUP TO DEVELOP UGANDA'S RENEWABLE ENERGY RESOURCES


Electrowatt-Ekono Oy, which is part of the Jaakko Pöyry Group's Energy business group, and Norplan A.S., Norway, have concluded a contract with the Ministry of Energy and Mineral Development of Uganda for preparing an alternative energy resources assessment and utilisation study. The study is funded by the African Development Bank and its total value amounts to EUR 2 million, of which Electrowatt-Ekono's services account for approximately 60 per cent.

The project's duration is 13 months, during which the consultant will investigate the possibilities of using biomass, peat, small hydropower resources, solar and wind power and geothermal energy for electrification, especially of rural areas. Electrowatt-Ekono will be responsible for project management, administration and specialist services related to biomass, peat and geothermal energy.

At present, only one per cent of rural Uganda households have access to electricity. The Government of Uganda has set a 10 per cent electrification target by the year 2010. The main goal of the project at hand is to prepare an economically, socially and environmentally sustainable development programme for alternative energy resources for the years 2005-2020. This will promote electrification in the whole country and, in particular, in the rural area.

This assignment further strengthens the position of Electrowatt-Ekono as a leading specialist and consultant in the utilisation of bioenergy and decentralized energy systems in developing as well as industrialised countries.

The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 127 million in 2001. Electrowatt-Ekono has offices in 20 countries and employs 1200 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi

Investor Relations

Additional information by:

Anja Silvennoinen, Business Area Director, Electrowatt-Ekono Oy

Tel. +358 9 4691 527

Aimo Vitikka, Project Manager, Electrowatt-Ekono Oy

Tel. +358 9 4691 634

www.poyry.com

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