Citycon's Board approved share subscriptions related to its share offering

The Board of Directors of Citycon Oyj ("the Company") has approved in its meeting
on 1 August 2005 the share subscriptions made for the 12,000,000 shares issued in
connection with the Company's directed share offering. The Board of Directors
decided to register the share capital increase in the Trade Register and to apply
for admission to public trading of the new shares on the main list of the
Helsinki Stock Exchange together with the Company's other shares in the same
share class. Public trading of the new shares is estimated to commence on 3
August 2005.

As a result of the directed share issue the share capital of the Company will
increase by EUR 16,200,000 and will, upon registration of the share capital
increase, amount to EUR 168,426,928.80 consisting of 124,760,688 shares. All the
shares subscribed in connection with the directed share offering have been paid
in full and entitle, as of the financial period commenced on 1 January 2005, to
dividends (if any) to be distributed in the future. Such shares entitle to other
rights attached to the shares in the Company as of the registration of the share
capital increase.

Helsinki, 1 August 2005

Board of Directors

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

Helsinki Stock Exchange
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