CITYCON OYJ Stock Exchange Release 13 March 2008 at 16.10 hrs Resolutions by Citycon Oyj's Annual General Meeting Citycon Oyj's Annual General Meeting (AGM) took place in Helsinki, Finland, today. The AGM adopted the consolidated financial statements and the parent company's financial statements for the financial year 2007 and discharged the members of the Board of Directors and the Chief Executive Officer from liability. The AGM decided on a dividend of EUR 0.04 per share for the financial year 2007 and, in addition, on equity return of EUR 0.10 per share from the invested unrestricted equity fund. Record date for the dividend payment and equity return is 18 March 2008 and the dividend and equity return will be paid on 2 April 2008. Mr Amir Bernstein and Mr Per-Håkan Westin were elected as new Board members. In addition, the AGM approved the Board of Directors' proposal to amend the terms and conditions of the company's stock option plan 2004. Board members and their remuneration The number of Board members remained at eight with Gideon Bolotowsky, Raimo Korpinen, Tuomo Lähdesmäki, Claes Ottosson, Dor J. Segal and Thomas W. Wernink being re-elected to the Board for a one-year term. Mr Per-Håkan Westin, M.Sc. (Eng.), born 1946, and Mr Amir Bernstein, LL.M., born 1969, were elected as new members to the Board. The AGM decided that the Chairman of the Board of Directors be paid an annual fee of EUR 160,000, the Deputy Chairman EUR 60,000 and ordinary members of the Board EUR 40,000. In addition, the AGM decided that the Chairman of the Board and the Chairmen of the Board's committees be paid a meeting fee of EUR 700 and the other Board and committee members EUR 500 per meeting. Auditor Ernst & Young Oy, a firm of authorised public accountants, continues as the auditor of the company with Authorised Public Accountant Tuija Korpelainen as the chief auditor. Proposal by the Board of Directors to amend the terms and conditions of the option plan 2004 As proposed by the Board of Directors, the AGM decided to amend the terms and conditions of the stock option plan 2004 as follows: From the share subscription prices of stock options 2004 A/B/C shall, as per each record date for dividend payment and/or equity return, be deducted half of the amount of dividends and half of the amounts returned from the invested unrestricted equity fund. The deductions shall be undertaken after the commencement of the period for determination of the share subscription price but before share subscription. Following this decision, the subscription prices of the 2004 option rights as of 18 March 2008 will be as follows: Subscription price with the 2004 A options EUR 2.2732 per share, with B options EUR 2.6608 per share and with C options EUR 4.3613 per share. Helsinki, 13 March 2008 CITYCON OYJ Petri Olkinuora CEO For further information, please contact: Petri Olkinuora, CEO, tel. +358 9 6803 6738 or mobile +358 400 333 256 Eero Sihvonen, CFO, mobile +358 50 557 9137 Distribution: OMX Nordic Exchange Helsinki Major media www.citycon.fi