CITYCON OYJ      STOCK EXHANGE RELEASE 23 September 2004 at 8.00
a.m.

APPROVAL OF SHARE SUBSCRIPTIONS RELATED TO THE SHARE OFFERING AND

APPLICATION FOR ADMISSION OF THE NEW SHARES TO THE MAIN LIST OF 
HELSINKI
EXCHANGES 
The Board of Directors of Citycon Oyj ("the Company") has approved
in 
its meeting on 22 September 2004 the share subscriptions made for the

10,000,000 shares issued in connection with the Company's directed 
share
offering. The Board of Directors decided to register the share 
capital
increase in the Trade Register and to apply with the Helsinki 
Exchanges for
admission of the new shares for public trading on the 
main list of the
Helsinki Exchanges along with the other shares of the 
Company in the same
share class. The new shares are estimated to be in 
public trading on 27
September 2004.

Helsinki, 23 September 2004

CITYCON OYJ
BOARD OF
DIRECTORS

For further information, please contact:
Petri Olkinuora, CEO,
tel. +358 9 6803 6738 or
+358 400 333 256