THE AUDITORS' REPORT ON THE GENERAL AUDI

CITYCON OYJ STOCK EXCHANGE RELEASE 26 MAY 2004 AT 3 p.m. THE AUDITORS' REPORT ON THE GENERAL AUDIT CONCERNING CITYCON OYJ'S INTERIM REPORT FOR THE PERIOD 1 JAN.-31 MAR. 2004 On request from international investors, Citycon Oyj has requested auditors' general review concerning the interim report for the period 1.1.-31.3.2004. In the future, Citycon Oyj will disclose an auditors' statement of this kind in interim reports. Independent Accountants' Review Report addressed to the Citycon Board of Directors: We have reviewed the consolidated balance sheet of Citycon Oyj as of March 31, 2004, the related consolidated statements of operations for the three-month period ended March 31, 2004, and the related consolidated statements of cash flows for the three- month period ended March 31, 2004, which are included in the Company's interim report. These consolidated financial statements are the responsibility of the Board of Directors and the Company's management. We conducted our review in accordance with the International Standard on Auditing applicable to review engagements. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion. Based on our reviews, we are not aware of any material modifications that should be made to the consolidated financial statements referred to above for them to be in conformity with the Accounting Act and other rules and regulations governing the preparation of interim financial statements in Finland. Helsinki, May 26, 2004 Ari Ahti Jaakko Nyman Authorized Public Accountant Authorized Public Accountant CITYCON OYJ Board of Directors Further information is available from: Mr Stig-Erik Bergström, Chairman of the Board of Directors, on +358 400 424 343 Distribution: Helsinki Exchanges and main media

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