Citycon's share capital increase based on stock options

CITYCON OYJ STOCK EXCHANGE RELEASE 21 July 2005 at 9:00 a.m. Citycon's share capital increase based on stock options A total of 464,330 new Citycon shares with a nominal value of EUR 1.35 per share were subscribed in July exercising the A/B/C options based on the company's stock option plan 1999. The corresponding share capital increase, EUR 626,845.50 was entered in the Trade register today. The new shares will be traded on the Helsinki Exchange's Main list together with the old shares as of 22 July 2005. The 464,330 shares were subscribed at a per-share subscription price of EUR 1.40. Each share entitles to one vote. The new shares entitle their holders to a dividend for the financial year 2005. Other shareholder entitlements became effective today. After the increase the registered share capital of Citycon Oyj is EUR 152,226,928.80 and the total amount of shares is 112,760,688. The unexercised stock options based on Citycon's stock option plan 1999 entitle their holders to subscribe 4,643,170 new shares, corresponding to a further capital increase of EUR 6,268,279.50. The share subscription period will expire on 30 September 2007. Helsinki, 21 July 2005 CITYCON OYJ Petri Olkinuora CEO For further information, please contact: Petri Olkinuora, CEO, tel. +358 9 6803 6738 or +358 400 333 256 Distribution: Helsinki Exchanges Main Media www.citycon.fi

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