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Home News JAAKKO PÖYRY GROUP SIGNED ACQUISITION AGREEMENT IN AUSTRIA AND CZECH REPUBLIC

STOCK EXCHANGE RELEASE 15 Apr 2004

JAAKKO PÖYRY GROUP SIGNED ACQUISITION AGREEMENT IN AUSTRIA AND CZECH REPUBLIC

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           April 15, 2004 at 10.30

JAAKKO PÖYRY GROUP SIGNED ACQUISITION AGREEMENT IN AUSTRIA AND CZECH
REPUBLIC

Jaakko Pöyry Group Oyj and Verbund AG have signed an agreement on April
14, 2004 according to which the ownership and voting rights in
subsidiaries owned by the Verbund group will be transferred to Jaakko
Pöyry Group Oyj as follows:

- 74.9 per cent of Verbundplan GmbH in Austria
- 97.25 per cent of Verbundplan Prüf- und Messtechnik GmbH in Austria
- 95.19 per cent of AQUATIS a.s. in the Czech Republic

The transaction price to be paid for the companies is EUR 6.1 million.
The parties to the deal retain the option to buy/sell the 25.1 per cent
interest in Verbundplan GmbH which remains in the hands of a subsidiary
controlled by Verbund AG. The option can be exercised during 2008. The
parties have the obligation to buy/sell this interest if the other party
so requires.

The companies' combined net sales for 2003 amounted to about EUR 45
million and they employ 470 people. The companies posted a slight profit
for 2003. The companies do not have any interest-bearing debts. The
effect of the deal on the Jaakko Pöyry Group's earnings for 2004 is
expected to be neutral and for 2005 positive.

The Board of Directors of Jaakko Pöyry Group Oyj approved the deal in
its meeting on April 8, 2004. The closure of the transaction is subject
to approval by Verbund's decision-making bodies, the competition
authorities in Austria and the Czech Republic as well as to the
completion of details related to change of control. The necessary
decisions are expected before the end of June 2004.

The Jaakko Pöyry Group announced the signing of a memorandum of
understanding concerning the acquisition in a stock exchange notice
dated December 2, 2003. The business operations of the acquired
companies and their strategic importance for the Jaakko Pöyry Group are
described in more detail in the above-mentioned notice and in the Annual
Report for 2003.

The Jaakko Pöyry Group will consolidate the acquired companies' earnings
for the period January 1 - June 30, 2004 in connection with its earnings
figures for the second quarter.

JAAKKO PÖYRY GROUP OYJ


Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Deputy to President and CEO

Additional information:
Teuvo Salminen, Deputy to President and CEO, Jaakko Pöyry Group Oyj
Tel.  +358 9 8947 2872, +358 400 420 285
Jaakko Pöyry Group Oyj's Stock Exchange Notice, December 2, 2003

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