Citycon became main owner of IsoKristiina Shopping Centre in Lappeenranta
Citycon Oyj, a property investment company specialised in retail premises,
acquired the entire stock of a real estate company called Kiinteistö Oy Karjalan
Kauppakeskus in a transaction executed on 31 May 2005. Karjalan Kauppakeskus owns
commercial premises in IsoKristiina Shopping Centre located in Lappeenranta.
After the transaction Citycon is the main owner of the IsoKristiina premises.
Citycon's total debt free investment is amounted to EUR 7.9 million.

The transaction relates to Citycon's growth strategy to expand its business in
Finland, Scandinavia and the Baltic countries.

As a result of the transaction, Citycon's commercial property holding in
IsoKristiina increased with approx. 7,600 square metres to approx. 17,300 square
metres of the total area of approx. 19,800 square metres. The remaining area in
the complex consists of mainly office premises. The net yield percentage of the
property on its purchase price at the date of the transaction was roughly 8.3 per
cent.

IsoKristiina Shopping Centre is the biggest shopping centre in South-East part of
Finland with the total sales of approx. EUR 44.2 million and with about 2.6
million customers in 2004.

Citycon is the market leader for shopping centre business in Finland. Citycon
owns a total of 16 shopping centres in the Helsinki Metropolitan Area and in
other regional centres in Finland and, as planned, as of 1 July 2005 Åkersberga
Shopping Centre located in the Stockholm Metropolitan Area in Sweden.

In addition to shopping centres, Citycon owns 128 supermarkets and shops in
Finland. The fair value of the company's entire property portfolio on 31 March
2005 was EUR 736.4 million, of which shopping centres account for 60.8 per cent
and supermarkets and shops for 39.2 per cent.

Citycon Oyj
Board of Directors

For more information, please contact:
Petri Olkinuora, CEO
tel. +358 400 333 256
petri.olkinuora@citycon.fi

Kaisa Vuorio, Head of Shopping Centres Division
tel. +358 500 667 227
kaisa.vuorio@citycon.fi

Distribution:
Helsinki Stock Exchange
Main news media
www.citycon.fi

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