Subscriptions of Citycon shares exercising stock option rights 1999

Stock exchange releases - 11 September 2007

a.m.

A total of 353,201 new Citycon shares have been subscribed exercising
stock options under the company's 1999 stock-option scheme. 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 12 September 2007. The new shares entitle their holders to
participate in the rights issue announced by Citycon yesterday.

The shares were subscribed at a per-share subscription price of EUR
1.35. 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
193,163,472. The share subscription price was 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 259,876 new shares
taking into account the stock options held by Citycon's subsidiary
Veniamo-Invest Oy. Considering that Veniamo-Invest Oy is not entitled
to subscribe shares in its parent company, the maximum number of
shares that can actually be subscribed with the remaining 1999 stock
options is 71,386.

The share subscription period under the 1999 stock option scheme will
expire on 30 September 2007. Since the shares are payable upon
subscription, the subscription period actually ends on 28 September
2007, because the two last days of September are not banking days. In
accordance with the Rules of the Helsinki Stock Exchange, trading
with Citycon's 1999 A/B/C option rights (CTY1SEW199) ends on 24
September 2007.

Helsinki, 11 September 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

This press release has not been prepared for the purpose of an offer
of, solicitation of an offer, or any similar acts to buy or subscribe
for, securities of the issuer, and, in particular, does not
constitute an offer or a solicitation of an offer for securities of
the issuer in or to residents of the United States, Canada, Japan, or
Australia.
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