Citycon strengthens its position in Sweden

Stock exchange releases - 23 November 2005


Citycon strengthens its position in Sweden

On 23 November 2005 Citycon Oyj has agreed to acquire Lindome Retail Centre in
the Greater Gothenburg area, Sweden. The deal is expected to close on 3 January
2006. The centre's debt free purchase price amounts to SEK 74.5 million (EUR 7.8
million) and the net yield at the time of the acquisition to approx. 7.3 per
cent. Citycon is actively seeking for and reviewing additional investment
opportunities in the region to enhance its geographical presence in growth areas
in the Greater Gothenburg area.

Lindome Retail Centre is a neighbourhood shopping centre located about 15
kilometres south of the city centre of Gothenburg in the popular and rapidly
growing Lindome residential area in the Municipality of Mölndal. The gross floor
area of the centre totals 7,642 square metres, most of it retail premises. Anchor
tenant is ICA (KVANTUM).

Lindome Retail Centre is Citycon's first acquisition in the Gothenburg economic
region following previous acquisitions in the Stockholm Metropolitan Area. The
transactions relate to Citycon's expansion strategy in Scandinavia and the Baltic
countries and strengthen Citycon's position in the Swedish real estate market.

Helsinki, 23 November 2005

CITYCON OYJ
Board of Directors

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

Distribution:
Helsinki Stock Exchange
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