The Board of Directors of Citycon Oyj has in its meeting of 9
December 2008 resolved to cancel the 442 bonds, repurchased by the
company between 28 October and 25 November 2008, from its
subordinated convertible capital bonds issued on 2 August 2006 (the"Convertible Bonds") in accordance with section 7 (g) of the terms
and conditions of the Convertible Bonds. Citycon announced the
repurchases on 4 November 2008, 18 November 2008 and 2 December 2008.

After the cancellation the number of issued and outstanding bonds
under the Convertible Bonds amounts to 1,758 and the maximum number
of shares that can be subscribed for on the basis of such bonds
amounts to 20,928,571 shares. As a result of the cancellation, the
maximum increase of Citycon's share capital on the basis of the
Convertible Bonds decreased from EUR 35,357,142.60 to EUR
28,253,570.85. The above amendments to Citycon's Convertible Bonds
were registered in the Trade Register today, on 19 December 2008.

The bonds repurchased by Citycon on 10 December 2008 have not yet
been cancelled.

Helsinki, 19 December 2008

Petri Olkinuora

For further information, please contact:
Eero Sihvonen, CFO
Tel. +358 20 766 4459 or mobile +358 50 557 9137

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