CITYCON SELLING COMPANY-HELD SHARES AS P

Stock exchange releases - 30 October 2003

CITYCON SELLING COMPANY-HELD SHARES AS PART OF THE FINANCING
ARRANGEMENTS FOR THE ACQUISITION OF A SHOPPING CENTRE

Citycon Oyj's Board of Directors decided on 30 October 2003, on
the basis of an authorisation granted by the annual general
meeting of 20 March 2003, to surrender 3,874,000 Citycon shares
held by the company for sale in public dealing by the Helsinki
Exchanges. Citycon is selling the shares as part of the financing
arrangements for the purchase of the Jyväskylän Forum shopping
centre.

The shares will be surrendered in suitable batches after the
publication of a decision in accordance with section 7:5 of the
Companies Act. The shares will be handed over at no less than
their market price at the time of surrender, which price shall be
determined in public trading by the Helsinki Exchanges.

The authorisation granted by the annual general meeting has been
entered in the Trade Register and it is valid till 20 March 2004.
The authorisation applies to all company-held Citycon shares. The
surrender is, in accordance with the authorisation, possible in
cases other than that of a shareholder having pre-emption rights
over company shares. Furthermore, according to the authorisation,
the shares may be surrendered by sale in public trading of
securities by the Helsinki Exchanges.

CITYCON OYJ
Board of Directors

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