CITYCON'S SHARE CAPITAL INCREASE BASED ON STOCK OPTIONS

CITYCON OYJ STOCK EXHANGE RELEASE 16 December 2004 at 9.00 a.m. CITYCON'S SHARE CAPITAL INCREASE BASED ON STOCK OPTIONS A total of 228,500 new Citycon shares with a nominal value of EUR 1.35 per share were subscribed in November. exercising the A/B/C options based on the company's stock option plan 1999. The corresponding share capital increase, EUR 308,475 was entered in the Trade register today. The new shares will be traded on the Helsinki Exchanges' Main list together with the old shares as of 17 December 2004. The 228,500 shares were subscribed at a per-share subscription price of EUR 1.54. Each share entitles to one vote. The new shares entitle their holders to a dividend for the financial year 2004. Other shareholder entitlements became effective today. After the increase the registered share capital of Citycon Oyj is EUR 156,655,833.30 and the total amount of shares is 116,041,358. Helsinki, 16 December 2004 CITYCON OYJ Petri Olkinuora CEO For further information, please contact: Petri Olkinuora, CEO, tel. +358 9 6803 6738 or +358 400 333 256

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