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STOCK EXCHANGE RELEASE 3 May 2005

SHARE SUBSCRIPTIONS WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ AND ENDING OF BOND LOAN WITH WARRANTS OF 1998

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Announcement
                           May 3, 2005 at 1.45 p.m.

SHARE SUBSCRIPTIONS WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ AND ENDING
OF BOND LOAN WITH WARRANTS OF 1998

Pursuant to Jaakko Pöyry Group Oyj's Bond Loan with Warrants of 1998,
26 950 new shares have been subscribed with the warrants between April
22 and 29, 2005. The share subscriptions and the consequential increase
of the company's registered share capital will be handled at the next
Board meeting of the company on July 27, 2005. According to the terms
and conditions of the Bond Loan, the subscribed new shares entitle to
dividends for the financial year 2005. Other shareholders' rights
commence on the date of registration into the Trade Register.

The subscription period for all warrants connected to the Bond Loan with
Warrants of 1998 ended on April 30, 2005. The 1 300 000 warrants
connected to the loan allowed subscription of 1 300 000 new shares of
the company. A total of 1 299 015 shares have been subscribed with the
warrants. Following the approval and registration of all share
subscriptions the share capital of the company will increase by a total
of EUR 1 299 015. The 385 warrants held by Jaakko Pöyry Group Oyj's
wholly-owned subsidiary JP-Sijoitus Oy as well as the 600 warrants with
which shares have not been subscribed, totally 985 warrants, have become
null and void and will be deleted from the book-entry register.

JAAKKO PÖYRY GROUP OYJ


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

Additional information by:
Anne Viitala, Group General Counsel, Jaakko Pöyry Group Oyj
tel. +358 9 8947 2811

www.poyry.com

DISTRIBUTION:
Helsinki Exchanges
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