Decisions of Citycon Oyj's Extraordinary General Meeting

CITYCON OYJ            Stock Exchange Release              17 May 2010 at 14:50 hrs Decisions of Citycon Oyj's Extraordinary General Meeting Citycon Oyj's Extraordinary General Meeting (EGM) took place in Helsinki, Finland, today. The EGM decided on the number of members of the Board of Directors at ten and elected Chaim Katzman to the Board for a term that will continue until the closing of the next Annual General Meeting. Further, the EGM approved the Board of Directors' proposal for the amendment of Article 4 of the Articles of Association as well as the Nomination Committee's proposal regarding the annual remuneration of Deputy Chairmen of the Board of Directors. Chaim Katzman (born in 1949), who was elected to Citycon's Board of Directors, is the founder, controlling shareholder and Chairman of the Board of Directors of Gazit Inc., as well as Executive Chairman of the Board of Directors of Gazit-Globe Ltd., Gazit Inc.'s subsidiary and the main shareholder of Citycon. In addition, he serves as Chairman of the Board of Directors of several listed Gazit Group companies. Mr Katzman is an Israeli and American citizen and holds a university degree in law. He is independent of the company but not of significant shareholders. Mr Katzman's personal details are available on the corporate website at www.citycon.com/Board. The EGM also decided, as proposed by the Board of Directors, to amend the second paragraph of Article 4 of the company's Articles of Association in such a manner that the Board of Directors elects from among its members one or several Deputy Chairmen instead of one. In addition, the EGM decided, as proposed by the Board of Directors' Nomination Committee, to amend the decision on the remuneration of the members of the Board of Directors made by the AGM on 11 March 2010 in respect of the annual fee payable to the Deputy Chairman in such a manner that an annual fee of EUR 60,000 be paid to each one of one or several Deputy Chairmen. Minutes of the general meeting will be available on the corporate website at www.citycon.com/egm2010 as of 31 May 2010 at the latest. Helsinki, 17 May 2010 CITYCON OYJ Petri Olkinuora CEO For further information, please contact: Petri Olkinuora, CEO Tel. +358 20 766 4401 or mobile +358 400 333 256 petri.olkinuora@citycon.fi Distribution: NASDAQ OMX Helsinki Major media www.citycon.fi [HUG#1416327]

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