Citycon became main owner of IsoKristiina Shopping Centre in Lappeenranta

Citycon Oyj Stock Exchange Release 31 May 2005 at 4:15pm Citycon became main owner of IsoKristiina Shopping Centre in Lappeenranta Citycon Oyj, a property investment company specialised in retail premises, acquired the entire stock of a real estate company called Kiinteistö Oy Karjalan Kauppakeskus in a transaction executed on 31 May 2005. Karjalan Kauppakeskus owns commercial premises in IsoKristiina Shopping Centre located in Lappeenranta. After the transaction Citycon is the main owner of the IsoKristiina premises. Citycon's total debt free investment is amounted to EUR 7.9 million. The transaction relates to Citycon's growth strategy to expand its business in Finland, Scandinavia and the Baltic countries. As a result of the transaction, Citycon's commercial property holding in IsoKristiina increased with approx. 7,600 square metres to approx. 17,300 square metres of the total area of approx. 19,800 square metres. The remaining area in the complex consists of mainly office premises. The net yield percentage of the property on its purchase price at the date of the transaction was roughly 8.3 per cent. IsoKristiina Shopping Centre is the biggest shopping centre in South-East part of Finland with the total sales of approx. EUR 44.2 million and with about 2.6 million customers in 2004. Citycon is the market leader for shopping centre business in Finland. Citycon owns a total of 16 shopping centres in the Helsinki Metropolitan Area and in other regional centres in Finland and, as planned, as of 1 July 2005 Åkersberga Shopping Centre located in the Stockholm Metropolitan Area in Sweden. In addition to shopping centres, Citycon owns 128 supermarkets and shops in Finland. The fair value of the company's entire property portfolio on 31 March 2005 was EUR 736.4 million, of which shopping centres account for 60.8 per cent and supermarkets and shops for 39.2 per cent. Citycon Oyj Board of Directors For more information, please contact: Petri Olkinuora, CEO tel. +358 400 333 256 petri.olkinuora@citycon.fi Kaisa Vuorio, Head of Shopping Centres Division tel. +358 500 667 227 kaisa.vuorio@citycon.fi Distribution: Helsinki Stock Exchange Main news media www.citycon.fi

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