Citycon Oyj - Company Announcement

Citycon s Shopping Centre Transaction in Tallinn, Estonia, Finalised

CITYCON OYJ Stock Exchange Release 16 July 2007 at 15.30 hrs

On 7 June 2007, Citycon announced the signing of an agreement to
acquire the shopping centre Magistral, located in the Mustamäe
district of Tallinn, for approximately EUR 16.5 million. Closing of
such transaction took place today. The transaction has been described
in greater detail in the company's stock exchange release issued on 7
June 2007. For additional information on the purchased property, see
the company's homepage www.citycon.fi.

After closing of the deal, the company owns three shopping centres in
the Baltic countries: two in Estonia and one in Lithuania.

Helsinki, 16 July 2007

CITYCON OYJ
Petri Olkinuora
CEO

For further information, please contact:
Harri Holmström, Vice President, Baltic Operations, mobile +358
40 845 5726

Petri Olkinuora, CEO
mobile +358 400 333 256


Citycon is the market leader for the shopping centre business in
Finland, where it owns a total of 20 shopping centres. In Sweden,
Citycon owns eight shopping centres and three in the Baltic
countries. In addition to the shopping centres, Citycon owns 53 other
retail properties, 46 in Finland and seven in Sweden.

Distribution:
Helsinki Stock Exchange
Main news media
www.citycon.fi