CITYCON OYJ Stock Exchange Release 10 March 2009 at 15:30 hrs Citycon has continued the buybacks of its convertible capital bonds of 2006 Citycon Oyj has repurchased its subordinated convertible capital bonds issued on 2 August 2006 (the "Convertible Bonds") for an aggregate consideration of EUR 2.5 million including accrued interest through a deal executed on 10 March 2009. The face value repurchased by the company amounted to EUR 4.4 million corresponding to 88 bonds with face value of EUR 50,000 corresponding to approximately four per cent of the aggregate amount of the Convertible Bonds due 2013. Including the buybacks Citycon concluded between 28 October 2008 and 27 February 2009, Citycon has repurchased a total principal amount of EUR 33.5 million of the Convertible Bonds corresponding to approximately 30.5 per cent of the aggregate amount of the Convertible Bonds. The weighted average repurchase price has been 53.5 per cent of the bonds' face value. The principal amount of the Convertible Bonds listed on 22 August 2006 amounts to EUR 110 million and the Convertible Bonds carry an interest at the rate of 4.50 per cent p.a. The Convertible Bonds were issued to international institutional investors in deviation from the pre-emptive rights of shareholders based on the authorization of the company's Annual General Meeting held on 14 March 2006. The repurchases of the bonds have been executed in the open market 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 the company will cancel the repurchased bonds. The repurchases have been carried out because the market situation has enabled the company to repurchase the bonds at a price clearly below their face value and because the repurchases enable the company to strengthen its balance sheet and decrease its net financial expenses. Helsinki, 10 March 2009 CITYCON OYJ Petri Olkinuora CEO For further information, please contact: Eero Sihvonen, CFO Tel +358 20 766 4459 or +358 50 557 9137 eero.sihvonen@citycon.fi Distribution: NASDAQ OMX Helsinki Major media www.citycon.com