Citycon Oyj

Regulatory Filings • Feb 28, 2007

Disclosure 176672

Citycon Oyj - Corporate Action

Citycon's development project in Lahti advances

Citycon has today agreed to purchase the entire stock of MREC Kiinteistö Oy Lahden Hansa. The debt-free purchase price is EUR 17.0 million, which equals to an initial net yield of 5.8 per cent. The property is an essential part of the shopping centre Trio, which is currently refurbished and developed by Citycon. The gross leasable area of Hansa is 11,000 sq.m. As a result of this acquisition, Citycon's GLA in Trio totals 46,000 sq.m. and it owns nearly the entire shopping centre. The annual footfall of the shopping centre in 2006 reached 8.9 million. In addition to retail premises, Hansa property also comprises a hotel."The acquisition of Hansa provides us with an opportunity to develop Trio, the leading shopping facility in Lahti city centre, more extensively. In addition, the deal strengthens Citycon's position as the market leader in the Finnish shopping-centre business. This investment is a natural part of Trio's development project", states Vice President Kaisa Vuorio, responsible for Citycon's Finnish operations. Helsinki, 28 February 2007 CITYCON OYJ Petri Olkinuora CEO For further information, please contact: Kaisa Vuorio, Vice President, Finnish operations mobile +358 500 667 227 Petri Olkinuora, CEO, mobile+358 400 333 256 Distribution: Helsinki Stock Exchange Major media www.citycon.fi