CITYCON OYJ Stock Exchange Release 23 August 2006 at 10.10 a.m.

Citycon signs EUR 600 million syndicated loan facility

Citycon Oyj has today signed a EUR 600 million credit facility agreement with an
international bank group. The facility consists of a seven year amortizing term
loan of EUR 435 million, and a EUR 165 million revolving credit facility of up to
five years.

The facility will be used to refinance Citycon's existing credit facility of
originally EUR 450 million, raised in 2004 and maturing in 2009, and to finance
company's property acquisitions.

The initial interest margins of the facility are 0.5% - 0.675% and the new
facility will reduce Citycon's annual financing costs by about EUR 0.7 million
compared to the previous facility and will extend the average loan maturity of
Citycon's loan portfolio.

The mandated lead arrangers of the facility are Nordea Bank Finland Plc, Danske
Bank A/S, Eurohypo AG and OKO Bank plc with five additional banks joining in the
bank group. The facility was substantially oversubscribed at syndication.

Helsinki, 23 August 2006

Board of Directors

For further information, please contact:
Eero Sihvonen, Chief Financial Officer
Mobile +358 50 557 9137

Petri Olkinuora, CEO
Mobile +358 400 333 256

Citycon is the Finnish market leader in the shopping centre business. It owns a
total of 19 shopping centres in the Helsinki Metropolitan Area and other regional
centres of Finland, and nine shopping and retail centres in the Stockholm and
Gothenburg regions in Sweden. In the Baltic countries, Citycon owns the Rocca al
Mare shopping centre in Tallinn, Estonia and the Mandarinas shopping centre in
Vilnius, Lithuania.

In addition to shopping centres, Citycon owns 127 supermarket and retail premises
in Finland.

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