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STOCK EXCHANGE RELEASE 2 Feb 2005

SHARES SUBSCRIBED WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Announcement
                           February 2, 2005 at 3.00 p.m.

SHARES SUBSCRIBED WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

Pursuant to Jaakko Pöyry Group Oyj's Bond Loan with Warrants of 1998,
5000 new shares have been subscribed with the warrants between January 1
and February 2, 2005. The share subscriptions and the consequential
increase of the company's registered share capital will be handled at
the Board Meeting of the company on March 3, 2005.

According to the terms and conditions of the bond loan, the subscribed
new shares entitle to dividend for the financial year 2005. Other
shareholders' rights commence on the date of registration of the share
capital increase into the Trade Register.

The subscription period for all warrants ends on April 30, 2005. A total
of 916 565 shares have been subscribed with the warrants by February 2,
2005. An aggregate of 1.3 million shares in the company can be
subscribed with these warrants.

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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