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STOCK EXCHANGE RELEASE 29 Jul 2002

SHARES SUBSCRIBED WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Announcement
                           July 29, 2002 at 6.00 p.m.

SHARES SUBSCRIBED WITH WARRANTS IN JAAKKO PÖYRY GROUP OYJ

Pursuant to Jaakko Pöyry Group Oyj's Bond Loan with Warrants of
1998, 117 090 new shares have been subscribed. Following these
subscriptions, the company's registered share capital will increase
by EUR 117 090 from EUR 13 659 311 to EUR 13 776 401 and the total
number of authorized shares will increase to 13 776 401. The
increase in share capital should be registered in the Trade Register
on August 5, 2002. The subscribed shares shall entitle to dividends
for the financial year 2002 and to all other shareholders' rights as
of the registration in the Trade Register. The new shares should be
available for public trading on the Helsinki Exchanges on August 6,
2002.

The subscription period for all warrants ends on April 30, 2005. A
total of 415 415 shares have been subscribed with the warrants on
July 29, 2002.

JAAKKO PÖYRY GROUP OYJ



Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Executive Vice President


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

www.poyry.com


DISTRIBUTION:
Helsinki Exchanges
Major media