Final result of Citycon s rights issue and increase of maximum number<br />of shares that can be subscribed for pursuant to convertible capital<br />bonds of 2006

Stock exchange releases - 8 October 2007


NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA

All offered 27,594,782 shares were subscribed for in Citycon's rights
issue completed on 3 October 2007. A total of 27,235,387 shares were
subscribed for in the primary subscription representing 98.7 per cent
of the shares offered. A total of 6,775,015 shares were subscribed
for in the secondary subscription exceeding by 6,415,620 shares the
number of shares available. The gross proceeds raised by Citycon in
the rights issue were EUR 99,341,215.20.

The Board of Directors of Citycon Oyj has today approved all primary
subscriptions made in the offering carried out between 19 September
2007 and 3 October 2007, and decided to approve the subscriptions
made by the company's shareholders by virtue of the secondary
subscription right in proportion to their holding on the record date
13 September 2007 in accordance with the terms and conditions of the
offering. A shareholder who has exercised his/her secondary
subscription right will receive new shares approximately 0.36 per
cent of the holding on the record date rounded to the closest entire
share. Since no fractions of shares can be issued, shareholders whose
holding on the record date of the offering was 140 shares or less,
could not be allocated any shares in the secondary subscription.

Shareholders that did not receive any or all shares subscribed for by
virtue of the secondary subscription right will be repaid the
subscription price for the shares not received to the bank account
informed by the shareholder in connection with the subscription on or
about 10 October 2007. No interest will accrue for the repayable
funds.

Shares subscribed for in the primary subscription have been subject
to public trading on the OMX Nordic Exchange Helsinki since 4 October
2007 as interim shares. All shares subscribed for in the rights issue
will be registered with the Finnish Trade Register on or about 10
October 2007 after which the interim shares will be combined with
Citycon's existing class of shares. The interim shares as well as
shares subscribed for by exercising the secondary subscription right
will be subject to public trading on the OMX Nordic Exchange Helsinki
together with the other Citycon shares starting on or about 11
October 2007.

Following the registration of the new shares in the Trade Register,
the number of Citycon's shares will amount to 220,758,254 shares. All
shares subscribed for in the rights issue have been fully paid for.
The subscribed shares will entitle their holders to full dividend (if
any) and to all other rights attached to the shares in the company as
of the registration of the shares with the Trade Register.

Pursuing to the rights issue and the decision to adjust the
conversion price of the convertible capital bonds listed on 22 August
2006 taken by the Board of Directors on 10 September 2007 in
accordance with the terms and conditions of the bonds, the Board of
Directors also decided to increase the maximum number of shares that
can be subscribed for pursuant to the convertible bonds from
25,326,947 shares to 26,190,476 shares. The increase in the maximum
number of shares is expected to be registered in the Trade Register
on or about 10 October 2007.

Helsinki, 8 October 2007

CITYCON OYJ
Board of Directors

For further information, please contact:
Petri Olkinuora, CEO, tel. +358 9 6803 6738 or
mobile +358 400 333 256

Eero Sihvonen, CFO, mobile +358 50 557 9137

Distribution:
OMX Nordic Exchange Helsinki
Major media
www.citycon.fi

This release is not an offer of securities for sale in the United
States. The securities referred to herein may not be offered or sold
in the United States absent registration under the U.S. Securities
Act of 1933, as amended, or an exemption from registration. Any
public offering of securities to be made in the United States will be
made by means of a prospectus that may be obtained from the issuer
and that will contain detailed information about the company and
management, as well as financial statements. The issuer does not
intend to conduct a public offering in the United States or register
any part of the offering in the United States. Copies of this release
are not being made and may not be distributed or sent into the United
States, Canada, Japan or Australia.
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