Citycon's share capital increase based on stock options 1999

Stock exchange releases - 20 December 2005


Citycon's share capital increase based on stock options 1999

A total of 189,330 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 255,595.50
was entered in the Trade Register today. The new shares will be traded on the
Helsinki Stock Exchange's main list together with the other Citycon shares as of
21 December 2005.

The 189,330 shares were subscribed at a per-share subscription price of EUR 1.40.
Each share entitles to one vote. The new shares entitle their holders to a
dividend for the financial year 2005. Other shareholder entitlements became
effective today.

After the increase the registered share capital of Citycon Oyj amounts to EUR
184,115,724.30 and the total number of shares to 136,382,018.

The unexercised stock options based on Citycon's stock option plan 1999 entitle
their holders to subscribe for 4,221,840 new shares, corresponding to a further
share capital increase of EUR 5,699,484.00. The share subscription period will
expire on 30 September 2007.

Helsinki, 20 December 2005

CITYCON OYJ

Petri Olkinuora
CEO

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