Citycon Oyj - Company Announcement

Citycon Sells 41 Apartments in Tumba Centrum, Sweden

CITYCON OYJ          Release       9 May 2011 at 11.45 hrs

Citycon continues with the divestments of its residential portfolio in Sweden
by selling 41 apartments connected to the shopping centre Tumba Centrum for SEK
48 million (approximately EUR 5 million). The apartments will be sold to a
newly founded owners association called Tumba Torg by an agreement where the
owners association agrees to purchase 100 per cent of the shares in Citycon's
Swedish subsidiary Tumba Bostäder AB. The sold apartments have a total area of
2,328 sq.m., which accounts for approximately 25 per cent of all the apartments
connected to Tumba Centrum. Closing of the transaction is expected to take
place in July 2011. 

“Citycon is a shopping centre operator focused in retail and therefore
residential properties are not part of our strategy. Our intention is to sell
all non-core residential properties from our portfolio,” comments Marcel
Kokkeel, Citycon's CEO. 

This is Citycon's fourth residential disposal. These past years the company has
sold a total of 342 apartments in Sweden, approximately half of Citycon's
residential portfolio in the country. 

Helsinki, 9 May 2011

CITYCON OYJ
Marcel Kokkeel
CEO

For further information, please contact:

Ulf Attebrant, Vice President, Swedish operations
Telephone +46 8 5228 0313
ulf.attebrant@citycon.com

Distribution:
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www.citycon.com