Citycon's share capital increase based on stock options 1999

A total of 15,000 new Citycon shares with a nominal value of EUR 1.35 per share
were subscribed between 17 and 23 March 2006 exercising the A/B/C options based
on the company's stock option plan 1999. The corresponding share capital
increase, EUR 20,250 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 29 March 2006. The holders of these shares are entitled to
participate in the share issue announced by the company on 24 March 2006.

The per-share subscription price of the shares subscribed with the option rights
was EUR 1.35. Each share entitles to one vote. The new shares entitle their
holders to a dividend for the financial year 2006. Other shareholder entitlements
became effective today.

After the increase the registered share capital of Citycon Oyj amounts to EUR
185,148,919.80 and the total number of shares to 137,147,348.

The unexercised stock options related to Citycon's stock option plan 1999 entitle
their holders, in accordance with the terms and conditions of the plan, as
amended due to the share issue on 24 March 2006, to subscribe for 3,776,928 new
shares, corresponding to a further share capital increase of EUR 5,098,852.80.
The share subscription period will expire on 30 September 2007.

Helsinki, 28 March 2006

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
Major media
www.citycon.fi