Citycon's share capital increase based on stock options 1999

Stock exchange releases - 27 July 2006


Citycon's share capital increase based on stock options 1999

A total of 269,433 new Citycon shares with a nominal value of EUR 1.35 per share
were subscribed in July exercising the A/B/C options based on the company's stock
option plan 1999. The corresponding share capital increase, EUR 363,734.55 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
28 July 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
223,145,163.90 and the total number of shares to 165,292,714.

The unexercised stock options related to Citycon's stock option plan 1999 entitle
their holders to subscribe for 2,906,511 new shares, corresponding to a further
share capital increase of EUR 3,923,789.85. The share subscription period will
expire on 30 September 2007.

Helsinki, 27 July 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