Share subscriptions with warrants in Jaakko Pöyry Group Oyj and ending of Bond Loan with Warrants of 1998

Pursuant to Jaakko Pöyry Group Oyj's Bond Loan with Warrants of 1998, 26 950 new shares have been subscribed with the warrants between April 22 and 29, 2005. The share subscriptions and the consequential increase of the company's registered share capital will be handled at the next Board meeting of the company on July 27, 2005. According to the terms and conditions of the Bond Loan, the subscribed new shares entitle to dividends for the financial year 2005. Other shareholders' rights commence on the date of registration into the Trade Register.

The subscription period for all warrants connected to the Bond Loan with Warrants of 1998 ended on April 30, 2005. The 1 300 000 warrants connected to the loan allowed subscription of 1 300 000 new shares of the company. A total of 1 299 015 shares have been subscribed with the warrants. Following the approval and registration of all share subscriptions the share capital of the company will increase by a total of EUR 1 299 015. The 385 warrants held by Jaakko Pöyry Group Oyj's wholly-owned subsidiary JP-Sijoitus Oy as well as the 600 warrants with which shares have not been subscribed, totally 985 warrants, have become null and void and will be deleted from the book-entry register.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen
President and CEO

Teuvo Salminen
Deputy to President and CEO