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PRESS RELEASE 30 Apr 2003

JAAKKO PÖYRY GROUP TO PARTICIPATE IN MONDI'S RICHARDS BAY PULP MILL EXPANSION


Jaakko Pöyry Southern Africa (Pty) Ltd, which is part of the Jaakko Pöyry Group's Forest Industry business group, has been awarded a service contract by Mondi Ltd for the Richards Bay pulp mill expansion project in South Africa. The value of the assignment amounts to EUR 15 million and it was included in the order stock for the first quarter, which was disclosed in the interim report published on April 28, 2003.

For the assignment Jaakko Pöyry has entered into a co-operation agreement with Murray & Roberts Engineering Solutions, a division of Murray & Roberts, the major South African listed engineering and construction group. The total contract value of the co-operation's services is about EUR 30 million, with Jaakko Pöyry's services amounting to one half of the total.

The co-operation's services for the pulp mill expansion project include project management, engineering, procurement and construction management. The services will be performed by Jaakko Pöyry Southern Africa, Jaakko Pöyry Oy and Murray & Roberts Engineering Solutions. The project consists of new cooking and bleach plants, rebuild of the pulp drying machine and modifications to the chemical recovery plants. The expansion raises the pulp production of the mill to about 720 000 tons a year. The rebuilt mill is scheduled to start production early 2005.

The assignment stems from Mondi's and Jaakko Pöyry's longstanding co-operation in the implementation of industrial investment projects. Jaakko Pöyry also served as engineering consultant for Mondi's first pulp mill project at Richards Bay in 1984.

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

Satu Perälampi

Investor Relations

Additional information by:

Stefan Antell, Vice President, Jaakko Pöyry Oy

Tel. +358 9 8947 2344, +358 40 520 0262

www.poyry.com

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