Published: 2005-04-05 15:00:00 CEST
Citycon Oyj
Company Announcement
Board of Directors' formation and election of the members of the Board of
Citycon Oyj         Stock Exchange Release 5 April 2005 at 4:00pm

Board of
Directors' formation and election of the members of the Board of
Directors'
committees

In the formative meeting held on 5 March 2005, Citycon's Board of
Directors
elected Stig-Erik Bergström as Chairman and Thomas Wernink as Deputy
Chairman.

The following members were elected to the Board of directors'
committees:

Audit Committee
Stig-Erik Bergström
Raimo Korpinen
(Chairman)
Thomas Wernink

Compensation Committee
Stig-Erik Bergström
(Chairman)
Tuomo Lähdesmäki
Carl G. Nordman

Investment Committee
Amir
Gal
Stig-Erik Bergström
Dori Segal
Thomas Wernink (Chairman)

Nomination
Committee
Stig-Erik Bergström
Amir Gal
Tuomo Lähdesmäki (Chairman)
Claes
Ottosson

The independence of the Board Members of Directors
In the view of
the Board of Directors all members of the Board except Thomas
Wernink, who has
entered into a Consultancy Agreement with the company, are
independent of the
company. Further, in the view of the Board of Directors, Stig-
Erik Bergström,
Raimo Korpinen, Tuomo Lähdesmäki, Carl G.  Nordman and Thomas
Wernink are
independent of a significant shareholder.

CITYCON OYJ
Board of
Directors

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