CHANGES IN THE COMPOSITION OF CITYCON OY

Stock exchange releases - 28 August 2003

   

This is a translation of Citycon's release of August 28,
2003.

CHANGES IN THE COMPOSITION OF CITYCON OYJ'S CORPORATE MANAGEMENT
COMMITTEE

Pirkko Salminen has started as Citycon Oyj's CFO and member of the
Corporate Management Committee. Salminen came to Citycon from
Stockmann Oyj, where she was Treasurer.

Antti Uski, Head of Citycon's Shopping Centres Division, is to
retire on 30 October 2003. As of 1 September 2003, the management
of the Shopping Centres Division will be the responsibility of CEO
Petri Olkinuora.

As of 1 September 2003, Citycon's Corporate Management Committee
will be comprised of CEO Petri Olkinuora, CFO Pirkko Salminen,
Corporate General Counsel Outi Raekivi, Heads of Division Jyrki
Karjalainen and Carl Slätis, and Head of Shopping Centres Division
Kaisa Vuorio.

Citycon is Finland's leading property investment company
specialised in business premises for the retail trade. Citycon's
business focuses on the Helsinki Metropolitan Area and Finland's
biggest regional centres.

Helsinki 28 August 2003
Citycon Oyj
Board of Directors

Further information: CEO Petri Olkinuora, Tel. +358 400 333 256

Distribution: Helsinki Exchanges and main media