Citycon s rights issue successfully completed

Stock exchange releases - 3 October 2007


NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA

Citycon Oyj's rights issue of approximately EUR 99 million was
completed successfully today. A total of 27,594,782 shares were
offered for subscription in accordance with shareholders' pre-emptive
subscription rights, and approximately 99 per cent of the offered
shares were subscribed for in the primary subscription. The secondary
subscription was over-subscribed."I am very pleased with the confidence and trust that Citycon's
shareholders have shown in the company. The outcome of the share
offering was excellent. As we have earlier announced, the proceeds of
the offering are intended to be used to partially finance the
acquisition of the shopping centre Iso Omena. The company's
shareholders have evidenced their support for the continuance of the
company's growth strategy through their participation in the
offering," said Citycon's CEO Petri Olkinuora.

Trading of the interim shares, representing the shares subscribed for
in the primary subscription, will commence on the OMX Nordic Exchange
Helsinki tomorrow, 4 October 2007. In accordance with the terms and
conditions of the offering, in case of over-subscription by virtue of
secondary subscription rights, the subscriptions made by the
company's shareholders will be approved in proportion to their
holdings on the record date, but not more than up to the maximum
number of the subscription undertaking.

All shares subscribed for in the rights issue will be registered with
the Finnish Trade Register on or about 10 October 2007 when also the
interim shares will be combined with Citycon's existing class of
shares. The new shares will be subject to public trading on the OMX
Nordic Exchange Helsinki together with the other Citycon shares
starting on or about 11 October 2007.

Citycon will announce the final result of the rights issue on 8
October 2007, following the approval of the primary and secondary
subscriptions by the Board of Directors.

Helsinki, 3 October 2007

CITYCON OYJ
Petri Olkinuora
CEO

For further information, please contact:
Petri Olkinuora, CEO, tel. +358 9 6803 6738 or
mobile +358 400 333 256

Eero Sihvonen, CFO, mobile +358 50 557 9137

Distribution:
OMX Nordic Exchange Helsinki
Major media
www.citycon.fi

This release is not an offer of securities for sale in the United
States. The securities referred to herein may not be offered or sold
in the United States absent registration under the U.S. Securities
Act of 1933, as amended, or an exemption from registration. Any
public offering of securities to be made in the United States will be
made by means of a prospectus that may be obtained from the issuer
and that will contain detailed information about the company and
management, as well as financial statements. The issuer does not
intend to conduct a public offering in the United States or register
any part of the offering in the United States. Copies of this release
are not being made and may not be distributed or sent into the United
States, Canada, Japan or Australia.
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