Citycon Oyj - Company Announcement

Citycon Acquired Shopping Centre Arabia in Helsinki

CITYCON OYJ       Stock Exchange Release           4 April 2012 at 13:25 hrs

Citycon has today acquired the shopping centre Arabia in Helsinki, Finland, for
EUR 19.5 million from Tapiola Group. Shopping centre Arabia is located in the
fringe of Helsinki's city centre, some four kilometres North-East on a lot
owned by the City of Helsinki. The shopping centre has a gross leasable area of
approximately 14,000 square metres, with 11,400 square metres of retail
premises. The net initial yield on the acquisition price is around 6 per cent
but it is expected to grow rapidly to 7 per cent after planned commercial
development actions. 

Arabianranta is former industrial area that has been converted into an urban
residential and campus area during past decades. Round 13,000 inhabitants live
in the Arabianranta area and thousands of homes have been built there during
the last 10 years and further homes are under construction. Rich in cultural
history and modern community living the Arabianranta area at the moment employs
6,000 people and offers 13,000 students a place to study. It is a part of
Helsinki's tram and bus network. 

“The excellent location of the centre with good public transportation
connections and its situation among a demographically strong, urban living,
working and studying environment brings growth potential in daily footfall. Our
aim is to reach this potential with active development: we will both increase
and diversify the offering of the centre. The centre fits Citycon's strategy
like a glove: we invest in shopping centres located in growing city centres,”
says Michael Schönach, Head of Citycon's Finnish Operations. 

Arabia Shopping Centre in Figures                                               
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Gross leasable area,      approx. 14,000                                        
 sq.m.                                                                          
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Retail premises, sq.m.    approx. 11,400                                        
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Other, sq.m.              approx. 2,600                                         
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Number of shops                                                               31
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Built/redeveloped in      Built 1960                                            
                          Redeveloped 2002                                      
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Sales, EUR million, 2011                                                    48.2
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No. of parking spaces     326 heated spaces                                     
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Anchor tenants            K-Supermarket, S-Market, Tarjoustalo, Alko, Chico's,  
                           pharmacy                                             
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Economic occupancy rate,                                                      93
 %                                                                              
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Citycon financed the acquisition from its existing credit facilities. The
acquisition will increase rental income and improve the profitability of
Citycon's Finnish operations. It is also expected to be earnings per share
accretive. 

Following the acquisition, Citycon owns 36 shopping centres and 41 other retail
properties in Finland, Sweden, Estonia and Lithuania. In addition, the company
manages and leases two shopping centres without owning them. In Finland,
Citycon owns a total of 23 shopping centres after the acquisition. 

Helsinki, 4 April 2012

CITYCON OYJ
Marcel Kokkeel
CEO

For further information, please contact:
Michael Schönach, Executive VP, Finnish Operations
Tel. +358 40 356 0909
michael.schonach@citycon.fi

Distribution:
NASDAQ OMX Helsinki
Major media
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