Citycon Oyj

M&A Activity • Jun 16, 2009

Disclosure 271007

Citycon Oyj - Company Announcement

Citycon sells apartments to be built in Liljeholmen, Stockholm

Citycon Oyj Stock exchange release 16 June 2009 at 16:30 Citycon will sell the apartments under construction in connection with the Liljeholmstorget shopping centre, located in Stockholm, to Heba Fastighets AB for approximately SEK 176 million (approx. EUR 17.6 million). The apartments to be built have been incorporated into a separate real estate company, and detached from the shopping centre. The total number of apartments is 72 and the leasable area totals some 6,100 m2. The apartments to be built in Liljeholmen are rental apartments and, currently, they are under construction in three stories above the shopping centre. Citycon will bring the residential development to an end and the deal is expected to be finalised in April 2010 after the completion of the apartments."We are pleased that the deal will bring us a good business partner to Liljeholmstorget shopping centre," says Petri Olkinuora, Citycon's CEO. "The building permit required the construction of apartments in connection with the shopping centre. We were planning to sell the apartments from the very beginning, since Citycon concentrates on retail premises, particularly on shopping centres and rental apartments are not part of the Citycon strategy," he continues. The construction of Liljeholmstorget shopping centre is Citycon's largest development project ever. Citycon launched the construction work in May 2007 and the shopping centre will be opened in October 2009. Stockholm, 16 June 2009 CITYCON OYJ Petri Olkinuora CEO For additional information, please contact: Petri Olkinuora, CEO Telephone +358 20 766 4401 or +358 400 333 256 petri.olkinuora@citycon.fi Ulf Attebrant, Vice President, Swedish operations Telephone +46 8 5228 0313 ulf.attebrant@citycon.com Distribution: NASDAQ OMX Helsinki Major media www.citycon.fi The Liljeholmstorget shopping centre in numbers +-------------------------------------------------------+ | Summary | | |----------------------------------------------+--------| | Total costs, EUR million | 180 | |----------------------------------------------+--------| | Total area, sq.m. | 91 000 | |----------------------------------------------+--------| | Leasable area, sq.m. | 77 800 | |----------------------------------------------+--------| | Retail premises, sq.m. | 28 000 | |----------------------------------------------+--------| | Residential premises, sq.m. | 6 100 | |----------------------------------------------+--------| | Office and health centre premises, sq.m. | 12 300 | |----------------------------------------------+--------| | Parking hall, sq.m. | 32 400 | |----------------------------------------------+--------| | Number of parking spaces | 900 | |----------------------------------------------+--------| | Number of stores and restaurants, approx. | 90 | +-------------------------------------------------------+