NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR IN ANY
OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE
LAW.

Citycon Oyj:n ("Citycon" tai "Yhtiö") hallitus tiedottaa tänään aikomuksestaan
tarjota enintään 22 000 000 uutta Yhtiön osaketta ("Osakkeet"). Osakkeet
tarjotaan suomalaisille ja kansainvälisille institutionaalisille sijoittajille
nopeutetussa tarjousmenettelyssä osakkeenomistajien merkintäetuoikeudesta
poiketen ("Osakeanti"). Osakeannissa tarjottavien Osakkeiden merkintähinta tulee
perustumaan tarjousmenettelyssä määräytyneeseen hintaan. Tarjottavat Osakkeet
vastaavat noin 9,9 prosenttia Cityconin kaikista osakkeista ja äänistä
välittömästi ennen Osakeantia. Cityconin varsinainen yhtiökokous antoi
13.3.2007 hallitukselle valtuutuksen laskea liikkeeseen Osakkeita
osakkeenomistajien merkintäetuoikeudesta poiketen.

Yhtiö aikoo käyttää Osakeannin nettotuotot maksaakseen takaisin Yhtiön
korollisia velkoja ja vahvistaakseen pääomarakennettaan. Osakeanti tarjoaisi
Yhtiölle lisää taloudellista joustavuutta Yhtiön toteuttaessa kehitysprojekteja
ja mahdollisia hankintoja Yhtiön investointistrategian mukaisesti sekä myös
laajentaisi Yhtiön omistuspohjaa.

Cityconin suurin osakkeenomistaja Gazit-Globe Ltd., kansainvälinen listattu
kiinteistöyhtiö, on ilmaissut tukensa Osakeannille osana pitkän tähtäimen
strategiaansa alueella.

Osakeanti toteutetaan tiettyjen ehtojen täyttyessä Kempen & Co:n ("Kempen")
toteuttamassa nopeutetussa tarjousmenettelyssä suomalaisille ja kansainvälisille
institutionaalisille sijoittajille. Tarjousmenettely alkaa välittömästi ja sen
oletetaan päättyvän ennen päivän päättymistä. Merkintätarjousten
vastaanottaminen voidaan kuitenkin keskeyttää koska tahansa
tarjousmenettelyjakson kuluessa. Yhtiö ja Kempen määrittävät tarjousmenettelyn
päätyttyä tarjottavien Osakkeiden määrän ja hinnan, jolla Osakkeet tarjotaan.
Yksityiskohdat Osakkeiden lukumäärästä ja merkintähinnasta tiedotetaan niin pian
kuin mahdollista tarjousmenettelyn päätyttyä.

Yhtiö on solminut Osakeannin yhteydessä myyntirajoitussopimuksen (lock-up
agreement), jonka mukaan se sitoutuu tietyin poikkeuksin olemaan laskematta
liikkeeseen tai myymättä Cityconin osakkeita ajanjaksona, joka päättyy 90 päivää
Osakeannin toteuttamisen jälkeen.

Osakkeet tuottavat haltijoillensa osakkeenomistajien oikeudet, mukaan lukien
oikeuden saada Yhtiön mahdollisesti jakaman täyden osingon sen jälkeen, kun
Osakkeet on rekisteröity kaupparekisteriin.

Yhtiö hakee Osakkeiden ottamista julkisen kaupankäynnin kohteeksi NASDAQ OMX
Helsinki Oy:ssä. Julkisen kaupankäynnin Osakkeilla odotetaan alkavan arviolta
24.9.2010.

Osakeannin järjestäjänä toimii Kempen (Sole Bookrunner and Lead Manager).

Helsinki, 21.9.2010

CITYCON OYJ
Hallitus

Lisätietoja:
Toimitusjohtaja Petri Olkinuora
Puhelin 020 766 4401 tai 0400 333 256
petri.olkinuora@citycon.fi

Varatoimitus- ja talousjohtaja Eero Sihvonen
Puhelin 020 766 4459 tai 050 557 9137
eero.sihvonen@citycon.fi

Jakelu:
NASDAQ OMX Helsinki
Keskeiset tiedotusvälineet
www.citycon.fi

Disclaimer

This announcement is not for distribution directly or indirectly in or into the
United States, Canada, Japan, Australia, South Africa or any jurisdiction into
which the same would be unlawful. This announcement is for information only and
does not constitute or form part of an offer or solicitation to purchase or
subscribe for Shares in the United States, Canada, Japan, Australia, South
Africa or any jurisdiction in which such an offer or solicitation is unlawful.
No action has been taken by the Company or Kempen that would permit an offering
of such securities or possession or distribution of this announcement or any
other offering or publicity material relating to such securities in any
jurisdiction where action for that purpose is required. Persons into whose
possession this announcement comes are required by the Company and Kempen to
inform themselves about, and to observe such restrictions.

The Shares referred to in this announcement have not been, and will not be,
registered under the United States Securities Act of 1933, as amended (the
"Securities Act") or under the securities legislation of any state of the United
States, and may not be offered or sold in the United States, absent registration
or pursuant to an exemption from, or in a transaction not subject to, the
registration requirements under the Securities Act. No public offering of
securities of the Company will be made in connection with the Offering.

In relation to each member State of the European Economic Area which has
implemented the Prospectus Directive (as defined below) (each, a "Relevant
Member State"), with effect from and including the date on which the Prospectus
Directive is implemented in that Relevant Member State (the "Relevant
Implementation Date"), the Offering will not be made to the public in that
Relevant Member State, except, with effect from and including the Relevant
Implementation Date:
(i) to qualified investors (as defined in the Prospectus Directive or
implementing legislation in the Relevant Member State) ("Qualified Investors");
(ii) to fewer than 100 natural or legal persons (other than qualified investors
as defined in the Prospectus Directive); or
(iii) in any other circumstances which do not require the publication by the
Company of a prospectus pursuant to Article 3 of the Prospectus Directive.

MEMBERS OF THE PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE OFFERING. THIS
ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND: (A)IN THE EUROPEAN ECONOMIC
AREA, THIS ANNOUNCEMENT IS DIRECTED ONLY AT PERSONS WHO ARE QUALIFIED INVESTORS
(AS DEFINED IN ARTICLE 2(1)(E) OF EU DIRECTIVE 2003/71/EC (THE "PROSPECTUS
DIRECTIVE") AND (B) IN THE UNITED KINGDOM, THIS ANNOUNCEMENT IS DIRECTED ONLY AT
QUALIFIED INVESTORS WHO ARE: (I) INVESTMENT PROFESSIONALS FALLING WITHIN ARTICLE
19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER
2005 (THE "ORDER"), OR (II) PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D)
("HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS, ETC") OF THE ORDER, OR
(III) PERSONS TO WHOM IT MAY OTHERWISE BE LAWFULLY COMMUNICATED (ALL SUCH
PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). ANY INVESTMENT OR
INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO
QUALIFIED INVESTORS (WHO, IF THEY ARE IN THE UNITED KINGDOM, ARE RELEVANT
PERSONS) OR OTHERWISE IN CIRCUMSTANCES WHICH DO NOT REQUIRE THE PUBLICATION BY
THE COMPANY OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE
AND PERSONS WHO ARE NOT QUALIFIED INVESTORS (AND, IN THE UNITED KINGDOM,
RELEVANT PERSONS) SHOULD NOT RELY ON THIS ANNOUNCEMENT.

In the Netherlands, this announcement is only directed to (a) legal entities
which are authorised or regulated to operate in the financial markets or, if not
so authorised or regulated, whose corporate purpose is solely to invest in
securities; (b) any legal entity which has two or more of (1) an average of at
least 250 employees during the last financial year; (2) a total balance sheet of
more than €43,000,000 and (3) an annual net turnover of more than €50,000,000,
as shown in its last annual or consolidated accounts; and (c) such other persons
or legal entities which qualify as qualified investor under the Dutch Financial
Supervision Act (Wet op het financieel toezicht). In respect of the Offering,
neither the Company nor Kempen: (i) is required to obtain a fund supervision
license pursuant to the Dutch Financial Supervision Act and (ii) is subject to
supervision of the Netherlands Authority for the Financial Markets.

Persons (including individuals, funds or otherwise) by whom or on whose behalf a
commitment to subscribe for Shares has been given will be deemed to have read
and understood this announcement In particular, each such investor represents,
warrants and acknowledges that it is: (i) a Relevant Person (as defined above)
and undertakes that it will acquire, hold, manage or dispose of any Shares that
are allocated to it for the purposes of its business; and (ii) unless otherwise
agreed, outside the United States and is subscribing for the Shares in an
"offshore transaction" (within the meaning of Regulation S under the United
States Securities Act of 1933, as amended (the "Securities Act")).

The price of the securities discussed in this announcement and the income from
them may go down as well as up and the investors may not get back the full
amount invested on disposal of the Shares. Any indication in this announcement
of the price at which the Shares have been bought or sold in the past cannot be
relied upon as a guide to future performance.


[HUG#1445828]