CITYCON OYJ          Stock Exchange Announcement   19 Oct. 2005 at 8:10
a.m.

Citycon's share capital increase based on stock options 1999

A total
of 189,000 new Citycon shares with a nominal value of EUR 1.35 per share
were
subscribed in October exercising the A/B/C options based on the
company's
stock option plan 1999. The corresponding share capital increase,
EUR 255,150.00
was entered in the Trade register today. The new shares will be
traded on the
Helsinki Stock Exchange's main list together with the other
Citycon shares as of
20 October 2005.

The 189,000 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
168,740,128.80 and
the total number of shares is 124,992,688.

The unexercised stock options
based on Citycon's stock option plan 1999 entitle
their holders to subscribe
for 4,411,170 new shares, corresponding to a further
share capital increase of
EUR 5,955,079.50. The share subscription period will
expire on 30 September
2007.

Helsinki, 19 October 2005

CITYCON OYJ

Petri
Olkinuora
CEO

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

Distribution:
Helsinki Stock Exchange
Main Media
www.citycon.fi