ILEX Energy to assist in development of Trading and Settlement Code for single energy market in Ireland

ILEX Energy Consulting Ltd, which is part of the Jaakko Pöyry Group's Energy business group, has been retained by the Commission for Energy Regulation and the Northern Ireland Authority for Energy Regulation to assist in the development of the Trading and Settlement Code for the single electricity market in Ireland. The value of the contract is in excess of EUR 1 million.

The Client parties have signed a Memorandum of Understanding according to which they commit themselves to the creation of an all-island energy market by July 1, 2007. The assignment involves developing market rules for the single electricity market within the economic, technical, financial and legal frameworks. ILEX Energy Consulting will be leading the work during 2005 and early 2006 with Nord Pool Consulting. The work will be performed in close cooperation with the Client, the system operators, industry and other interested parties.

The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 146 million in 2004. Electrowatt-Ekono has offices in 22 countries and employs 1500 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Satu Perälampi
Investor Relations Manager