Notice to holders of Citycon's stock option rights 1999

The dividend correction to the subscription price of Citycon shares with the
stock option rights 1999 took effect today. The current share subscription price
is EUR 1.35.

The Annual General Meeting of Citycon authorised on 14 March 2006 the Board of
Directors to decide on a rights issue and the company has announced that the
rights issue is intended to be carried out soon after the AGM subject to
favourable market conditions. If a holder of Citycon's stock option rights 1999
wishes to participate in the potential rights issue, (s)he should exercise
his/her right to subscribe the company's shares without delay.

In case the authorisation for a rights issue is exercised, it will require
adjustments to the terms and conditions of share subscription under the company's
stock option schemes, and the company's Board of Directors will make the
necessary decisions on this matter in due course to ensure equal treatment of all
security holders of Citycon.

Instructions for stock option holders wishing to exercise their share
subscription right are available on the company's website www.citycon.fi under
Investors/Shares/Stock option rights.

Helsinki, 17 March 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

Eero Sihvonen, CFO, tel. +358 9 6803 6730 or
mobile +358 50 557 9137

Distribution:
Helsinki Stock Exchange
Major media
www.citycon.fi