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