JP Management Consulting Oy and Jaakko Pöyry Consulting Oy will merge into Jaakko Pöyry Group Oyj

The Board of Directors of Jaakko Pöyry Group Oyj has yesterday approved a merger plan according to which Jaakko Pöyry Consulting Oy, a company belonging to Jaakko Pöyry Group, merges into Jaakko Pöyry Group Oyj by an absorption merger. The Board of Directors of Jaakko Pöyry Consulting Oy has approved the merger plan for their part. The shareholders of both companies will decide on the merger in the Annual General Meetings to be held on February 18, 2005 and March 3, 2005.

Prior to the enforcement of the above-mentioned merger, the subsidiary of Jaakko Pöyry Consulting Oy, JP Management Consulting Oy (a company also belonging to Jaakko Pöyry Group), will merge into Jaakko Pöyry Consulting Oy by an absorption merger. The Boards of Directors of Jaakko Pöyry Consulting Oy and JP Management Consulting Oy have approved the merger plan on January 28, 2005. The shareholders of both companies will decide on the merger in the Annual General Meetings to be held on February 18, 2005.

The purpose of the mergers is to clarify the group structure of Jaakko Pöyry Group and to simplify administration. The mergers are estimated to take effect on August 24, 2005 and August 31, 2005.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen
President and CEO

Teuvo Salminen
Deputy to President and CEO