Citycon Oyj - Company Announcement

Proposals by Citycon Oyj’s Board of Directors' Nomination and Governance Committee for the AGM

CITYCON OYJ       Stock Exchange Release	            8 February 2012 at 10:30
hrs 

Citycon Oyj's Board of Directors' Nomination and Governance Committee proposes
for the Annual General Meeting to be held on 21 March 2012 that the number of
members of the Board of Directors be resolved at current ten, and that the
present Directors Ronen Ashkenazi, Chaim Katzman, Roger Kempe, Kirsi Komi,
Claes Ottosson, Dor J. Segal, Jorma Sonninen, Per-Håkan Westin and Ariella
Zochovitzky be re-elected to the Board and that Mr Bernd Knobloch be elected as
a new Director to the Board for a term that will continue until the closing of
the next Annual General Meeting. Of the present Directors, Thomas W. Wernink
will leave the Board. 

Bernd Knobloch (born 1951) is a German citizen and he has degrees in Law and
Business Administration from the Universities of Frankfurt and Munich. Mr
Knobloch has made an extensive career in German and international banking and
real estate business, latest as Chairman of the Management Board of Eurohypo AG
and member of the Management Board of Commerzbank AG until 2008 and Supervisory
Board member of Hypo Real Estate until 2009. He serves as a non-executive
Director in the London-based Palatium Investment Management Ltd., in addition
to which he holds a number of positions of trust in various entities. He is
independent of the company and of significant shareholders. 

Said candidates have given their consent to the election. The candidates'
personal details are available on the corporate website at
www.citycon.com/board. 

Additionally, the Nomination and Governance Committee proposes that the
remuneration of members of the Board of Directors remain unchanged and that
Chairman of the Board of Directors be paid an annual fee of EUR 160,000, Deputy
Chairmen EUR 60,000 and ordinary members of the Board EUR 40,000. In addition,
the Nomination and Governance Committee proposes that Chairman of the Board and
Chairmen of the Board's committees be paid a meeting fee of EUR 700 and other
Board and committee members EUR 500 per meeting. The Nomination and Governance
Committee also proposes that members of the Board of Directors not residing in
the Helsinki Metropolitan Area be compensated accrued travel and lodging
expenses as well as other potential costs related to Board work. 

Helsinki, 8 February 2012

CITYCON OYJ
Marcel Kokkeel
CEO

For further information, please contact:
Marcel Kokkeel, CEO
Tel. +358 20 766 4521 or +358 40 154 6760
marcel.kokkeel@citycon.fi

Distribution:
NASDAQ OMX Helsinki
Major media
www.citycon.com