Citycon's share capital increase based on stock options 1999 and 2004 A

Stock exchange releases - 14 December 2006


Citycon's share capital increase based on stock options 1999 and 2004 A

A total of 616,151 new Citycon shares with a nominal value of EUR 1.35 per share
were subscribed in November exercising the A/B/C options and A options based on
the company's stock option plans 1999 and 2004, respectively. The corresponding
share capital increase, EUR 831,803.85 was entered in the Trade Register today.
The new shares will be traded on the Helsinki Stock Exchange together with the
other Citycon shares as of 15 December 2006.

The per-share subscription price of the 554,183 shares subscribed with the 1999
A/B/C options was EUR 1.35, and that of the 61,968 shares subscribed with the
2004 A options was EUR 2.2336. Each subscribed 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
225,697,293.00 and the total number of shares to 167,183,180.

The unexercised stock options related to Citycon's stock option plan 1999 entitle
their holders to subscribe for 1,078,013 new shares, corresponding to a further
share capital increase of EUR 1,455,317.55. The share subscription period will
expire on 30 September 2007. The unexercised stock options A related to Citycon's
stock option plan 2004 entitle their holders to subscribe for 1,317,462 new
shares, corresponding to a further share capital increase of EUR 1,778,573.70.
The share subscription period will expire on 31 March 2009.

Helsinki, 14 December 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