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STOCK EXCHANGE RELEASE 7 Jan 2004

NOTICE PURSUANT TO FINNISH SECURITIES MARKETS ACT 2:10; GRANTHAM, MAYO, VAN OTTERLOO & CO.'S SHAREHOLDINGS IN JAAKKO PÖYRY GROUP OYJ

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           January 7, 2004 at 12.00 p.m.

NOTICE PURSUANT TO FINNISH SECURITIES MARKETS ACT 2:10; GRANTHAM, MAYO,
VAN OTTERLOO & CO.'S SHAREHOLDINGS IN JAAKKO PÖYRY GROUP OYJ

Jaakko Pöyry Group Oyj has been informed on December 29, 2003 that the
total holdings of funds under the management of Grantham, Mayo, Van
Otterloo & Co. LLC have fallen below 1/20 of the share capital and
voting rights in Jaakko Pöyry Group Oyj.

The holding of funds under the management of Grantham, Mayo, Van
Otterloo & Co. LLC, 40 Rowes Wharf, Boston, MA 02210, USA, amount to
697 474 shares, i.e. 4.99 per cent of the share capital in Jaakko Pöyry
Group Oyj. The duty to disclose the change in reportable holdings
emerged due to an increase of share capital in Jaakko Pöyry Group Oyj on
December 19, 2003 following upon subscription of warrants pursuant to
the company's Bond Loan with Warrants. The number of shares in Jaakko
Pöyry Group Oyj held by Grantham, Mayo, Van Otterloo & Co. has remained
unchanged.

The registered share capital of Jaakko Pöyry Group Oyj comprises a total
of 13 966 901 shares entitling to a total of 13 966 901 votes.

JAAKKO PÖYRY GROUP OYJ


Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Deputy to President and CEO


Additional information by:
Satu Perälampi, Investor Relations Manager, Jaakko Pöyry Group Oyj
Tel. +358 9 8947 3002, +358 40 526 3388

www.poyry.com

DISTRIBUTION:
Helsinki Exchanges
Major media