Citycon is to strengthen its Shopping Centres Division, part of
its core competence. Kaisa Vuorio, MSc (Eng) has been appointed
the Director of the division. She has worked for Citycon since
2000 and is a member of the company's Corporate Management
Committee. In addition to serving as Director of the division,
Vuorio will continue as Director of Shopping Centres and will be
responsible for properties outside the Helsinki Metropolitan Area.

Commercial college graduate Timo Mäntylä has been appointed as a
new Director, Shopping Centres, of the division. He has served
Citycon as Leasing Manager since 2002. Mäntylä's new sphere of
responsibility is Citycon's shopping centres in Espoo.
Commercial college graduate Olli Lehtoaro will continue as
Director, Shopping Centres with responsibility for properties in

The appointments will come into effect on 1 November 2003.

Citycon is a property investment company specialising in retail
premises and the market leader for shopping centre business in
Finland. The company owns 14 shopping centres in the Helsinki
Metropolitan Area and other regional centres in Finland. In
addition to shopping centres, Citycon also owns 133 supermarkets
and shops. The balance sheet value of the company's entire
property portfolio is EUR 672.7 million, of which shopping centres
account for roughly 55 per cent and supermarkets and shops for
about 45 per cent.

Helsinki 30 October 2003
Citycon Oyj
Board of Directors

Further information: CEO Petri Olkinuora, Tel. +358 400 333 256

Distribution: Helsinki Exchanges and main media