Citycon Oyj           Stock Exchange Release        29 April 2005 at 9:00
a.m.

Citycon's share capital increase based on stock options

A total of
37,000 new Citycon shares with a nominal value of EUR 1.35 per share
were
subscribed in April exercising the A/B/C options based on the company's
stock
option plan 1999. The corresponding share capital increase, EUR 49,950
was
entered in the Trade register today. The new shares will be traded on
the
Helsinki Stock Exchange's Main list together with the old shares as of 2
May
2005.

The 37,000 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
151,600,083.30 and the total amount of
shares is 112,296,358.

The unexercised stock options based on Citycon's
stock option plan 1999 entitle
their holders to subscribe 5,107,500 new
shares, corresponding to a further
capital increase of EUR 6,895,125. The
share subscription period will expire on
30 September 2007.

Helsinki, 29
April 2005

CITYCON OYJ

Petri Olkinuora
CEO

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