CITYCON OYJ     STOCK EXCHANGE ANNOUNCEMENT   25 October 2005 at 1.00
p.m.

Citycon's Board approved share subscriptions related to its share
offering

The Board of Directors of Citycon Oyj ("the Company") has approved
in its meeting
of 25 October 2005 the share subscriptions made for the
11,200,000 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
for admission to public trading of
the new shares on the main list of the
Helsinki Stock Exchange together with
the Company's other shares in the same
share class. Public trading of the new
shares is estimated to commence on 27
October 2005.

As a result of the
directed share offering the share capital of the Company will
increase by EUR
15,120,000 and will, upon registration of the share capital
increase, amount
to EUR 183,860,128.80 consisting of 136,192,688 shares. All the
shares
subscribed in connection with the directed share offering have been paid
in
full and entitle, as of the financial year commenced on 1 January 2005,
to
dividends (if any) to be distributed in the future. Such shares entitle to
other
rights attached to the shares in the Company as of the registration of
the share
capital increase.

Helsinki, 25 October 2005

CITYCON OYJ
Board
of Directors

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


Distribution:
Helsinki
Stock Exchange
Main news media
www.citycon.fi