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STOCK EXCHANGE RELEASE 23 Feb 2001

SHARES SUBSCRIBED WITH A-WARRANTS IN JAAKKO PÖYRY GROUP OYJ

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Announcement
                           February 23, 2001 at 2.30 p.m.

SHARES SUBSCRIBED WITH A-WARRANTS IN JAAKKO PÖYRY GROUP OYJ

Pursuant to Jaakko Pöyry Group Oyj's Bond Loan with Warrants of
1998, 150 shares subscribed with A-warrants on October 19, 2000
have been registered in the Trade Register on February 23, 2001.
As a result of the subscription, the company's registered share
capital was increased by EUR 150, from EUR 13 724 136 to EUR
13 724 286 and the total amount of authorized shares rose to
13 724 286. The new shares entitle to all shareholders' rights as
of February 23, 2001 and the shares will be joined to the old
shares and available for public trading on the main list of the
Helsinki Exchanges on February 26, 2001.

Moreover, based on A-warrants of the same Bond Loan 20 100 new
shares were subscribed on February 5, 2001. Following upon these
subscriptions the company's registered share capital will increase
by EUR 20 100 from EUR 13 724 286 to EUR 13 744 386 and the total
amount of authorized shares will rise to 13 744 386. This increase
of share capital will be registered in the Trade Register on March
14, 2001. The subscribed shares entitle to dividends for the
financial year 2001. They entitle to all other shareholders'
rights as of the registration date March 14, 2001. The new shares
should be available for public trading on the Helsinki Exchanges
on March 15, 2001.

The subscription period for A-warrants commenced on April 1, 2000
and ends on April 30, 2005. A total of 74 100 shares have been
subscribed with A-warrants as of February 23, 2001.

JAAKKO PÖYRY GROUP OYJ


Erkki Pehu-Lehtonen                 Teuvo Salminen

Additional information by:
Wilhelm Rosenlew, Legal Counsel, Jaakko Pöyry Group Oyj
Tel. +358 9 8947 2030

www.poyry.com


DISTRIBUTION:
Helsinki Exchanges
Major media