Citycon Oyj — Proxy Solicitation & Information Statement 2011

Feb 9, 2011

Proposals by Citycon's Board of Directors' Nomination Committee to the AGM

Proposals by Citycon's Board of Directors' Nomination Committee to the AGM

CITYCON OYJ Stock Exchange Release 9 February 2011 at 16:00 hrs

Helsinki, Finland, 2011-02-09 15:00 CET (GLOBE NEWSWIRE) -- Citycon Oyj's Board
of Directors' Nomination Committee proposes to the Annual General Meeting to be
held on 23 March 2011 that the number of members of the Board of Directors be
resolved at current ten, and that the present Directors Ronen Ashkenazi, Chaim
Katzman, Claes Ottosson, Dor J. Segal, Thomas W. Wernink, Per-Håkan Westin and
Ariella Zochovitzky be re-elected to the Board and that Kirsi Komi, Roger Kempe
and Jorma Sonninen be elected as new Directors to the Board for a term that
will continue until the closing of the next Annual General Meeting. Of the
present Directors, Gideon Bolotowsky, Raimo Korpinen and Tuomo Lähdesmäki will
leave the Board.

Kirsi Komi (born 1963) is a Finnish citizen and has a Master's degree in law
from the University of Helsinki. She is a member of the Board of Directors of
M-real Corporation. Prior to that she worked for Nokia Group in various
positions for almost 20 years, latest General Counsel and member of the
Executive Board of Nokia Siemens Networks. She is independent of the company
and of significant shareholders.

Roger Kempe (born 1959) is a Finnish citizen and has a Master's degree in
economic science and business administration from the Hanken School of
Economics in Helsinki. He is the managing director of Fincorp Ltd., a family
holding company focused on investing. Prior to that he held executive positions
in Evli Bank Plc, whose founding members and owners he is. He is independent of
the company and of significant shareholders.

Jorma Sonninen (born 1962) is a Finnish citizen holding a European Diploma in
Marketing from Chartered Institute of Marketing. He has over 20 years' of
experience from real estate investment business and related advisory services
first as CEO, controlling shareholder and transaction advisor in
Yritysresurssit Oy and following the acquisition of Yritysresurssit Oy's
business by Colliers International Oy, as Head of Transaction and member of the
Board of Directors in Colliers International Oy. He is independent of the
company and of significant shareholders.

Said candidates have given their consent to the election. The candidates'
personal details are available on the corporate website at
www.citycon.com/board.

Additionally, the Nomination Committee proposes that the remuneration of
members of the Board of Directors remain unchanged and that Chairman of the
Board of Directors be paid an annual fee of EUR 160,000, Deputy Chairmen EUR
60,000 and ordinary members of the Board EUR 40,000. In addition, the
Nomination Committee proposes that Chairman of the Board and Chairmen of the
Board's committees be paid a meeting fee of EUR 700 and other Board and
committee members EUR 500 per meeting. The Nomination Committee also proposes
that members of the Board of Directors not residing in the Helsinki
Metropolitan Area be compensated accrued travel and lodging expenses as well as
other potential costs related to Board work.

Helsinki, 9 February 2011

CITYCON OYJ
Petri Olkinuora
CEO

For further information, please contact:
Petri Olkinuora, CEO
Tel. +358 20 766 4401 or mobile +358 400 333 256
petri.olkinuora@citycon.fi

Distribution:
NASDAQ OMX Helsinki
Major media
www.citycon.fi