Published: 2005-12-16 14:10:00 CET
Citycon Oyj
Company Announcement
Citycon continues expanding in Sweden
CITYCON OYJ          Stock Exchange Release        16 Dec. 2005 at 3:10

Citycon continues expanding in Sweden

On 16 December 2005 Citycon
Oyj has signed an agreement to acquire four retail
centres located in Backa,
Hindås, Landvetter and Floda in the Greater Gothenburg
area, Sweden. The
closing is expected to take place in February 2006. Debt free
purchase price
of the properties amounted to SEK 239.0 million (approx. EUR 25.4
million) and
the annual net yield to 7.2 per cent at the time of the signing.

area of the acquired retail centres totals 25,709 square meters and
average occupancy rate amounts to 96 per cent.
All properties are located in
rapidly growing areas within 35 kilometres from
downtown Gothenburg. The
properties are well established neighbourhood shopping
centres housing also
public services.

The acquisition of the retail centres follows the
acquisition of Lindome retail
centre in Greater Gothenburg area announced by
Citycon in November. The
acquisitions are in line with Citycon's strategy to
expand its business in
Scandinavia and the Baltic countries and will
strengthen Citycon's position in
the Swedish real estate market.

16 December 2005

Board of Directors

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

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