CITYCON OYJ Stock Exchange Release 19 May 2010 at 16:30 hrs Citycon starts the Martinlaakso shopping centre development project Citycon Oyj starts to build a new shopping centre in Martinlaakso, Vantaa, Finland. The new shopping centre has a central location in Martinlaakso, in the immediate vicinity of railway and bus stations. The existing old retail property will be demolished prior to commencing construction work. Citycon will invest approximately EUR 26.3 million in the shopping centre to be built, which will have a gross leasable area of 7,300 square metres of retail premises and parking facilities for 475 cars. The new Martinlaakso shopping centre will be part of Citycon's Partners in Everyday Life shopping centre cluster: its offering will mainly focus on groceries and other daily necessities as well as on local services. The shopping centre will house grocery stores S-market and Lidl, a pharmacy as well as bank services and cafes. The new Martinlaakso shopping centre will be opened in September 2011. Citycon has today sold the building right of 5,000 square meters for apartments which will be built on top of the shopping centre to Skanska Talonrakennus Oy. The selling price was EUR 2.3 million. In addition, Citycon receives a one-off compensation of EUR 1.1 million from the City of Vantaa for the commuter parking facility investment. Martinlaakso in Vantaa is a lively and growing suburb in the Helsinki Metropolitan Area, just 20 minutes by train from the Helsinki CBD. There is clearly demand for a new shopping centre. "The old shopping centre to be demolished is both technically and commercially outdated. The new shopping centre will improve and broaden Martinlaakso's retail offering considerably and increase Citycon's market share," says Jukka Posti, Citycon's Property Development Director. Helsinki, 19 May 2010 CITYCON OYJ Petri Olkinuora Chief Executive Officer For further information, please contact: Petri Olkinuora, CEO Tel. +358 20 766 4401 or mobile +358 400 333 256 petri.olkinuora@citycon.fi Distribution: NASDAQ OMX Helsinki Major media www.citycon.com [HUG#1417292]