Citycon Oyj to repay its capital loan 1/1999 prematurely

Citycon Oyj to repay its capital loan 1/1999 prematurely
Citycon Oyj has decided to repay its capital loan 1999 prematurely on 30 June
2005. The loan will be repaid according to the terms and conditions of the loan.
Citycon issued on 30 June 1999 a EUR 68 452 486 capital loan to institutional
investors. The loan was originally due to mature on 30 June 2009. The note
holders of the loan will be informed of the prepayment through an announcement in
Helsingin Sanomat on 15 June 2005.

The prepayment of the loan will result according to a current estimate in a one
time cost of approximately EUR 5.5 million that will be charged fully in the
second quarter result. Citycon has today announced the issue of a new capital
loan. The amount of the new loan is EUR 70 million and its maturity date is 17
June 2010. After taking into account the above mentioned one time cost the net
savings in the financing expenses of Citycon will be approximately EUR 1.5
million over the next four years.

CITYCON OYJ
Board of Directors

For more information, please contact:
Petri Olkinuora, CEO
tel. +358 9 6803 6738 or +358 400 333 256
petri.olkinuora@citycon.fi

Pirkko Salminen, CFO
tel. +358 9 6803 6730 or +358 50 3022 485
pirkko.salminen@citycon.fi

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