Subscription of Citycon shares exercising stock option rights 1999<br />and 2004 A

Stock exchange releases - 24 July 2007


A total of 307,524 new Citycon shares have been subscribed exercising
stock options under Citycon's 1999 and 2004 stock-option schemes. The
new shares were registered in the Trade Register today and will be
traded on the Helsinki Stock Exchange together with the other Citycon
shares as of 25 July 2007.

A total of 303,068 shares were subscribed exercising the 1999 A/B/C
stock options at a per-share subscription price of EUR 1.35 and 4,456
shares exercising the 2004 A stock options at a per-share
subscription price of EUR 2.1636. Each share entitles their holder to
one vote and to a dividend for the financial year 2007. Other
shareholder entitlements became effective today.

As a result of the increase, the number of Citycon shares totals
192,810,271. The share subscription price has been recognised under
the invested unrestricted equity fund, so there is no change in the
company's registered share capital, which amounts to EUR
259,570,510.20.

The unexercised stock options under the 1999 stock-option scheme
entitle their holders to subscribe for further 613,077 new shares.
The share subscription period will expire on 30 September 2007. The
unexercised stock options under the 2004 A stock-option scheme
entitle their holders to subscribe for a further 1,155,307 new
shares. The share subscription period will expire on 31 March 2009.

Helsinki, 24 July 2007

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
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