Citycon Oyj - Company Announcement

Citycon Oyj's Board of Directors' proposals to the AGM

CITYCON OYJ           Stock Exchange Release           9 February 2011 at 9.00
hrs 

Helsinki, Finland, 2011-02-09 08:00 CET (GLOBE NEWSWIRE) -- The Board of
Directors of Citycon Oyj hereby convenes the company's shareholders to the
Annual General Meeting (AGM) to be held at Marina Congress Center, Helsinki,
Finland on 23 March 2011 starting at 2.00 p.m. The Board of Directors makes the
following proposals to the AGM: 

- dividend proposal of EUR 0.04 per share and equity return proposal of EUR
0.10 per share, 

- authorisation to acquire a maximum of 20 million own shares.

1. Dividend proposal as well as proposal for the distribution of assets from
the invested unrestricted equity fund 

The Board of Directors proposes that for the financial year 2010, a per-share
dividend of EUR 0.04 be paid out from the retained earnings and EUR 0.10 per
share be returned from the invested unrestricted equity fund. The dividend and
the equity return will be paid to a shareholder registered in the company's
register of shareholders maintained by Euroclear Finland Ltd on the record date
for dividend payment and equity return 28 March 2011. The Board of Directors
proposes that the dividend and equity return be paid on 8 April 2011. 

2. Authorising the Board of Directors to decide on the acquisition of the
company's own shares 

The Board of Directors proposes that the Annual General Meeting would resolve
on authorising the Board of Directors to decide on the acquisition of a maximum
of 20,000,000 own shares. 

The shares shall be acquired otherwise than in proportion to the holdings of
the shareholders through public trading on the NASDAQ OMX Helsinki Ltd (“Stock
Exchange”) at the market price prevailing at the time of the acquisition by
using unrestricted equity. The shares shall be acquired and paid for in
accordance with the rules of the Stock Exchange and Euroclear Finland Ltd. 

The shares can be acquired to improve the company's capital structure or to be
used in financing or implementation of potential acquisitions or other
corporate transactions or as part of the company's incentive plan. The company
may hold, convey or cancel the shares for said purposes. 

The Board of Directors shall decide on other terms and conditions related to
the acquisition of own shares. The acquisition authorisation is proposed to be
valid until the next Annual General Meeting. 

Notice of the general meeting will be published on the corporate website at
www.citycon.com/agm2011 on 24 February 2011. Citycon Oyj's Financial Statements
and related documents as well as the aforementioned proposals by the Board of
Directors in their entirety are available on said website as of the same date. 

Helsinki, 8 February 2011

CITYCON OYJ
Board of Directors

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.com