Citycon Oyj - Company Announcement

Citycon Signed a EUR 330 Million Five-year Credit Facility

CITYCON OYJ           Stock Exchange Release           12 May 2011 at 13:40 hrs

Citycon Oyj has today signed a EUR 330 million long-term unsecured credit
facility agreement with a Nordic bank group. The facility consists of a bullet
term loan of EUR 220 million and a EUR 110 million revolving credit facility.
The loan period is five years. The facility was oversubscribed during
syndication. "We are very pleased with this successfully arranged and oversubscribed loan
refinancing transaction that further demonstrates Citycon's access to
competitively priced funding and the strength of our core bank relationships",
comments CFO and Executive Vice President Eero Sihvonen. 

The credit margins are close to those of the credit facilities signed in 2010.
The margins are subject to a pricing grid based on Citycon's interest coverage
ratio covenant. The new syndicated loan will strengthen Citycon's available
liquidity, provide means to finance company's growth with long-term financing
and will extend the average loan maturity of Citycon's loan portfolio. 

A total of EUR 240 million of the credit facility will be used to refinance a
EUR 165 million revolving credit facility due in 2011 and a EUR 75 million
revolving credit facility due in 2012.The rest of the proceeds will be utilized
to finance Citycon's (re)development pipeline and potential property
acquisitions in accordance with Citycon's strategy. 

The mandated lead arrangers of the facility are Pohjola Bank Plc, Danske Bank
A/S, DNB NOR Bank ASA, Nordea Bank Finland Plc and Skandinaviska Enskilda
Banken AB (publ) together with Swedbank AB (publ) as an arranger. 

Helsinki, 12 May 2011

CITYCON OYJ
Marcel Kokkeel
CEO

For further information, please contact:
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 20 766 4459 or +358 40 557 9137
eero.sihvonen@citycon.fi

Distribution:
NASDAQ OMX Helsinki
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www.citycon.com