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STOCK EXCHANGE RELEASE 8 Jan 1999

JAAKKO PÖYRY OY TO DESIGN SOPORCEL'S NEW PM2

Jaakko Pöyry Oy, a member of the Jaakko Pöyry Group, has been chosen as main engineering consultant for Soporcel's new PM2 project in Portugal. The assignment comprises complete planning services. The value of the deal is about EUR 8.5 million.

The PM2 project will start immediately and commercial production is scheduled to begin by the third quarter of the year 2000.

The paper machine will be designed to produce 400 000 tons of office papers a year, while the existing PM1 will mainly produce offset grades for the printing industry. Completed in 1991, the PM1 project was also carried out by Jaakko Pöyry Oy as main engineering consultant.

The total investment in the PM2 project will be about EUR 330 million. The new machine will bring the mill's total production capacity to 730 000 tons a year of uncoated woodfree paper.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen

Teuvo Salminen

For additional information, please contact:

Erkki Pehu-Lehtonen, President & CEO, Jaakko Pöyry Group Oyj, tel. +358-9-8947 2999.

Erkki Savolainen, Project Manager, Jaakko Pöyry Oy, tel. +358-9-8947 2739

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