Published: 2003-03-20 11:00:04 CET
Citycon Oyj
Company Announcement
CITYCON OYJ'S ANNUAL GENERAL MEETING
CITYCON OYJ  STOCK EXCHANGE BULLETIN 20 MARCH 2003 at 12 noon

CITYCON OYJ'S
ANNUAL GENERAL MEETING

Citycon Oyj's Annual General Meeting took place in
Helsinki on 
20 March 2003. The Meeting adopted the parent company's and the

consolidated financial statements for 2002 and discharged the 
members of
the Board of Directors and the Chief Executive 
Officer from liability. In
accordance with the proposal of the 
Board of Directors, the Meeting decided
to approve a dividend 
payment of EUR 0.09 for the financial year ended 31
December 
2002 on all shares outside the Company's ownership. The record

date for the distribution of dividend is 25 March 2003 and the 
dividend
will be paid on 1 April 2003.

The Annual General Meeting decided to
re-appoint the current 
members of the Board of Directors - Stig-Erik
Bergström, Heikki 
Hyppönen, Juhani Järvi, Jorma Lehtonen, Carl G. Nordman and
Juha 
Olkinuora - for a further term of office.

Authorised public
accountants Ari Ahti and Jaakko Nyman, with 
authorised public accountants
KPMG Wideri Oy Ab as deputy 
auditor were re-appointed as the company's
auditors for a 
further term of office. 

The Meeting decided that the
Chairman of the Board of Directors 
be paid an annual fee of EUR 18,000 and a
fee of EUR 420 for 
each meeting, that the Deputy Chairman be paid an annual
fee of 
EUR 14,400 and a fee of EUR 350 for each meeting and that 
ordinary
members of the Board of Directors be paid an annual fee 
of EUR 12,000 and a
fee of EUR 350 for each meeting. Payment of 
the annual fee is conditional on
members of the Board of 
Directors signing an undertaking to use the net part
of the fee 
to acquire Company's shares. 

The Annual General Meeting
authorised the Board of Directors to 
decide within one year of the Meeting
whether to increase the 
Company's share capital by a maximum of EUR
28,464,893.10 
through one or more new issues offering a maximum aggregate of

21,085,106 new shares having a nominal value of EUR 1.35. The 
authorisation
includes the right to disapply the pre-emption 
rights of existing
shareholders.

The Annual General Meeting authorised the Board of Directors
to 
decide within one year of the Meeting on the acquisition of the

Company's own shares provided that the aggregate nominal value 
of the
shares owned by the Company, including those already 
acquired, does not
exceed five per cent (5 %) of the Company's 
share capital and votes after the
acquisition. Pursuant to this 
authorisation the Company may acquire a maximum
of 1,414,892 of 
its own shares. The Company's own shares may be acquired for
use 
as consideration in any acquisitions of property, shares or any 
other
assets important to the Company's business.

The Annual General Meeting
authorised the Board of Directors to 
decide within one year of the Meeting on
the conveyance of the 
Company's own shares purchased by virtue of the
authorisation 
given to the Board of Directors and of all own shares otherwise

owned by the Company for use, for example, as consideration in 
any
acquisitions of property, shares or other assets important 
to the Company's
business.

The Board of Directors' proposals approved by the Annual General

Meeting appear in full in the Stock Exchange bulletin of 27 
February
2003.

CITYCON OYJ
Petri Olkinuora
CEO


Further information is
available from:
Mr Petri Olkinuora, CEO, on +358 400 333
256


Distribution:
Helsinki Exchanges and main media