Jaakko Pöyry Group awarded extensions to transportation project contracts in Venezuela and Taiwan

Electrowatt Infra, which is part of the Jaakko Pöyry Group's Infrastructure & Environment business group, has been awarded contract extensions comprising consultancy services for the start-up of the light rail transport system in Maracaibo, Venezuela, and engineering services in the Taiwan high-speed railway project. The total value of the assignments is EUR 6.7 million.

The light rail transport contract awarded to Electrowatt Infra Latin America by Metro de Maracaibo C.A. relates to consultancy for the initial operational phase of the system, including business and resource planning, tariffs strategy, environmental impact, technical O&M manuals and procedures, quality management, HR training, and legal and marketing issues. The services will be carried out by end of 2007. Electrowatt Infra Latin America has been the client's agent in the transport system project since 2002.

Electrowatt Infra Asia will continue as the Independent Checking Engineer/Independent Site Engineer in the Taiwan high-speed railway project. This assignment is a continuation to three previous contracts awarded since 1999 in this project, and it continues until the end of 2006. The owner, Taiwan High Speed Rail Corporation, is a joint venture of major Taiwanese industrial and financial companies. The EUR 15.4 billion project comprises a new high-speed rail link between Taipei and Kaohsiung and it is currently one of the most challenging BOT transport projects in the world.

The Jaakko Pöyry Group's Infrastructure & Environment business group uses the brand name Jaakko Pöyry Infra. Its net sales for 2004 were EUR 142 million. The business group has offices in 25 countries and employs 2000 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen
President and CEO

Teuvo Salminen
Deputy to President and CEO