Citycon Oyj - Company Announcement

Citycon has continued the repurchases of its convertible capital bonds of 2006 by acquiring bonds with face value of EUR 21 million from Gazit-Globe Ltd. and an institutional investor

CITYCON OYJ    Stock Exchange Release     13 August 2012 at 17:50 hrs

Citycon Oyj has repurchased convertible capital bonds (the “Convertible Bonds”)
issued on 2nd August 2006 from its main shareholder, Gazit-Globe Ltd. with face
value of EUR 20 million and EUR 1 million from an institutional investor. The
repurchase price was 100.4% which is, according to the company's knowledge, in
accordance with the market price for the Convertible Bonds. According to the
company's knowledge, Gazit-Globe Ltd. owned 48 % of the total shares and votes
in Citycon Oyj on 30th June 2012. The decision to repurchase the Convertible
Bonds was prepared by the company's members of the Board of Directors
independent of Gazit-Globe Ltd. 

The amount of EUR 21 million of nominal value repurchased by the company
corresponding to 420 bonds with nominal value of EUR 50.000 corresponding to 19
% of the aggregate amount of the Convertible Bonds maturing in 2013. The deal
was executed on 13 August 2012. 

Including the previous buybacks concluded by Citycon, the company has
repurchased Convertible Bonds to the aggregate amount of EUR 68.75 million of
nominal value corresponding to approximately 63 % of the aggregate amount of
the Convertible Bonds. The capital of the Convertible Bonds listed on 22nd
August 2006 amounts to EUR 110 million with the fixed annual interest rate of
4.50%. 

The repurchases of the bonds have been executed in accordance with Section 7
(f) of the terms and conditions of the Convertible Bonds. In accordance with
the terms and conditions of the Convertible Bonds Citycon Oyj will cancel the
repurchased bonds. The repurchase was executed as part of the company's
refinancing plan and it will reduce Citycon's financing costs. In accordance
with the terms and conditions, the Convertible Bonds are due to be repaid at
the maturity date in August 2013. 

Helsinki 13 August 2012

CITYCON OYJ

Marcel Kokkeel
CEO

For further information, please contact:
Eero Sihvonen, Executive VP and CFO
Tel +358 20 766 4459 or +358 50 557 9137
eero.sihvonen@citycon.fi


Distribution:

NASDAQ OMX Helsinki
Major media
www.citycon.com