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PRESS RELEASE 31 Oct 2006

PÖYRY AWARDED OIL PIPELINE ENGINEERING CONTRACT IN SPAIN

Pöyry's Energy business group has been awarded an engineering services contract by Repsol YPF for the duplication of the 360-km Cartagena-Puertollano oil pipeline in Spain. The value of the assignment is EUR 1.6 million.

The project is part of a major investment programme which the Spanish Repsol YPF, the 10th biggest petroleum company in the world, is developing in Spain. The investment programme comprises enlargement of the existing oil refineries and redesign of the oil products transport network.

Pöyry's services include basic and detail engineering and procurement services for the pipeline and four pumping stations. The services will be supplied under a joint venture scheme together with the Spanish engineering company Intecsa-Inarsa.

Pöyry's Spanish company, Heymo Ingeniería S.A. has a long track record in basic and detail engineering, construction supervision and project management for pipelines and storage farms and pumping stations in Spain and abroad, and in turn-key contracts. This assignment is a continuation of the long-term collaboration with Repsol YPF and further expands the service portfolio within the oil and gas sector in Spain.

Pöyry is a global consulting and engineering firm focusing on the energy, forest industry and infrastructure & environment sectors. Pöyry's annual net sales amount to about EUR 600 million and it employs 6000 experts

PÖYRY PLC

Satu Perälampi

Investor Relations Manager

Additional information by:

Jesús de Miguel, Area Manager, Oil & Gas, Heymo Ingeniería S.A., Spain

Tel. +34 913 822 300

www.poyry.com

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