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STOCK EXCHANGE RELEASE 13 Feb 2004

SHARES SUBSCRIBED WITH WARRANTS: JAAKKO PÖYRY GROUP OYJ

HEX HELSINKI     SECURITIES EXCHANGE  RELEASE 47/2004
                 SHARES               13 February 2004

SHARES SUBSCRIBED WITH WARRANTS: JAAKKO PÖYRY GROUP OYJ

A total of 3 700 Jaakko Pöyry Group Oyj's shares have
been subscribed with the Jaakko Pöyry Group Oyj's
warrants attached to the bond with warrants issued in
1998. The shares will be traded on the Helsinki Exchanges
as old shares as of 16 February 2004.

Identifiers of Jaakko Pöyry Group Oyj's share:

Trading code:                        JPG1V
ISIN code:                           FI0009006696
Number of shares:                    13 970 601


HELSINKI EXCHANGES
Mikko Timonen