Increase of share capital based on subscriptions with

Pursuant to Jaakko Pöyry Group Oyj's Bond Loan with Warrants of 1998, 36 500 shares subscribed with the warrants have been registered in the Trade Register on August 11, 2003. As a result of the subscriptions, the company's registered share capital was increased by EUR 36 500 from EUR 13 800 251 to EUR 13 836 751 and the total amount of authorized shares increased to 13 836 751. The new shares entitle to dividends for the financial year 2003 and to all other shareholders' rights as of the registration date August 11, 2003.

The new shares will be joined to the old shares and are available for public trading on the main list of the Helsinki Exchanges on August 12, 2003. A total of 475 765 shares have been subscribed with warrants on August 11, 2003.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen
President and CEO

Teuvo Salminen
Deputy to President and CEO

Increase of share capital based on subscriptions with warrants in Jaakko Pöyry Group Oyj