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

Stock exchange releases - 25 October 2005


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
of 25 October 2005 the share subscriptions made for the 11,200,000 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 27
October 2005.

As a result of the directed share offering the share capital of the Company will
increase by EUR 15,120,000 and will, upon registration of the share capital
increase, amount to EUR 183,860,128.80 consisting of 136,192,688 shares. All the
shares subscribed in connection with the directed share offering have been paid
in full and entitle, as of the financial year 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, 25 October 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
Main news media
www.citycon.fi