Board of Directors' formation and election of the members of the Board of
Directors' committees

In the formative meeting held on 5 March 2005, Citycon's Board of Directors
elected Stig-Erik Bergström as Chairman and Thomas Wernink as Deputy Chairman.

The following members were elected to the Board of directors' committees:

Audit Committee
Stig-Erik Bergström
Raimo Korpinen (Chairman)
Thomas Wernink

Compensation Committee
Stig-Erik Bergström (Chairman)
Tuomo Lähdesmäki
Carl G. Nordman

Investment Committee
Amir Gal
Stig-Erik Bergström
Dori Segal
Thomas Wernink (Chairman)

Nomination Committee
Stig-Erik Bergström
Amir Gal
Tuomo Lähdesmäki (Chairman)
Claes Ottosson

The independence of the Board Members of Directors
In the view of the Board of Directors all members of the Board except Thomas
Wernink, who has entered into a Consultancy Agreement with the company, are
independent of the company. Further, in the view of the Board of Directors, Stig-
Erik Bergström, Raimo Korpinen, Tuomo Lähdesmäki, Carl G. Nordman and Thomas
Wernink are independent of a significant shareholder.

CITYCON OYJ
Board of Directors

Further information from: CEO, Mr Petri Olkinuora on +358 400 333 256.

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