THE AUDITORS' REPORT ON THE GENERAL AUDIT CONCERNING CITYCON OYJ'S
INTERIM REPORT FOR THE PERIOD 1 JAN.-31 MAR. 2004

On request from international investors, Citycon Oyj has requested
auditors' general review concerning the interim report for the
period 1.1.-31.3.2004. In the future, Citycon Oyj will disclose an
auditors' statement of this kind in interim reports.
Independent Accountants' Review Report addressed to the Citycon
Board of Directors:

We have reviewed the consolidated balance sheet of Citycon Oyj as
of March 31, 2004, the related consolidated statements of
operations for the three-month period ended March 31, 2004, and
the related consolidated statements of cash flows for the three-
month period ended March 31, 2004, which are included in the
Company's interim report. These consolidated financial statements
are the responsibility of the Board of Directors and the Company's
management.

We conducted our review in accordance with the International
Standard on Auditing applicable to review engagements. This
standard requires that we plan and perform the review to obtain
moderate assurance as to whether the financial statements are free
of material misstatement. A review is limited primarily to
inquiries of company personnel and analytical procedures applied
to financial data and thus provides less assurance than an audit.
We have not performed an audit and, accordingly, we do not express
an audit opinion.

Based on our reviews, we are not aware of any material
modifications that should be made to the consolidated financial
statements referred to above for them to be in conformity with the
Accounting Act and other rules and regulations governing the
preparation of interim financial statements in Finland.

Helsinki, May 26, 2004

Ari Ahti Jaakko Nyman
Authorized Public Accountant Authorized Public Accountant

CITYCON OYJ
Board of Directors

Further information is available from: Mr Stig-Erik Bergström,
Chairman of the Board of Directors, on +358 400 424 343

Distribution: Helsinki Exchanges and main media

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