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STOCK EXCHANGE RELEASE 3 May 2001

SHARES SUBSCRIBED WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Announcement
                           May 3, 2001 8.15 a.m.

SHARES SUBSCRIBED WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

Pursuant to Jaakko Pöyry Group Oyj's Bond Loan with Warrants of
1998, 70 200 new shares have been subscribed with A-warrants and 61
950 new shares have been subscribed with B-warrants, totalling 132
150 new shares. Following upon these subscriptions the company's
registered share capital will increase by EUR 132 150 from EUR 13
744 386 to EUR 13 876 536 and the total amount of authorized shares
will rise to 13 876 536. The increase of share capital will be
registered in the Trade Register on May 9, 2001. The subscribed
shares entitle to dividends for the financial year 2001. They
entitle to all other shareholders' rights as of the registration
date May 9, 2001. The new shares should be available for public
trading on the Helsinki Exchanges on May 11, 2001.

The subscription period for A-warrants commenced on April 1, 2000
and for B-warrants on April 1, 2001. The subscription period ends
for all warrants on April 30, 2005. A total of 206 250 shares have
been subscribed based on the Bond Loan with Warrants as of May 3,
2001.

JAAKKO PÖYRY GROUP OYJ


Erkki Pehu-Lehtonen                 Teuvo Salminen


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

www.poyry.com


DISTRIBUTION:
Helsinki Exchanges
Major media