CITYCON NOT TO SELL COMPANY-HELD SHARES

Stock exchange releases - 12 November 2003

2003 at 4.00 p.m.

CITYCON NOT TO SELL COMPANY-HELD SHARES

Citycon Oyj's Board of Directors has decided for the time
being not to sell the Citycon shares held by the company,
as was stated in the release published on 30 October
2003. The reason for this decision is the sale of the
shareholdings in the company of its previous main
shareholders Nordea Bank Finland Plc, Kesko Corporation
and its subsidiaries, and Sampo Life Insurance Company
Ltd.

The financing for the purchase of the Jyväskylän Forum
shopping centre has been arranged entirely through bank
loans and from the company's liquid assets.

Helsinki, 12 November 2003

CITYCON
Board of Directors

Further information: CEO Petri Olkinuora, tel.
+358 400 333 256
Distribution: Helsinki Exchanges, main media

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