The shareholders of Citycon Oyj are hereby summoned to the Annual General Meeting to be held on Thursday, 13 March 2008 at 2.00 p.m. at Finlandia Hall, Helsinki Auditorium, Mannerheimintie 13e, Helsinki, Finland (entrance through doors M3 and K3). The agenda of the meeting includes the following items defined in the Article 9 of the Articles of Association and Section 3 of Chapter 5 of the Finnish Limited Liability Companies Act, and proposals by the Board of Directors and its committees: 1. Presentation of the financial statements and the report by the Board of Directors 2. Presentation of the auditor's report 3. Adoption of the financial statements 4. Resolution on dividend distribution and distribution of assets from the invested unrestricted equity fund On the basis of the financial statements to be adopted for the financial year ending on 31 December 2007, the Board of Directors proposes that a per-share dividend of EUR 0.04 be paid out from the retained earnings and that EUR 0.10 per share be returned from the invested unrestricted equity fund. The Board of Directors proposes that the dividend and equity return be paid on 2 April 2008. The dividend and equity return will be paid to a shareholder registered in the company's shareholders' register on the record date for dividend distribution and equity return 18 March 2008. 5. Discharge from liability to the members of the Board of Directors and the Managing Director 6. Remuneration of the members of the Board of Directors and the auditor The Board of Directors' Nomination Committee proposes 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, it is proposed 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. The Board of Directors proposes, as recommended by the Audit Committee that the audit fee be paid according to the auditor's invoice. 7. Number of the members of the Board of Directors The Board of Directors' Nomination Committee proposes that the number of the Board members remain at the current eight. 8. Election of the members of the Board of Directors The Board of Directors' Nomination Committee proposes that Mr Gideon Bolotowsky, Mr Raimo Korpinen, Mr Tuomo Lähdesmäki, Mr Claes Ottosson, Mr Dor J. Segal and Mr Thomas W. Wernink be re-elected to the Board until the end of the next Annual General Meeting. The Nomination Committee further proposes that Mr Per-Håkan Westin, M.Sc. (Eng.), born 1946, and Mr Amir Bernstein, LL.M., born 1969, be elected as new members to the Board. Mr Westin is Swedish citizen and has earlier been the Managing Director of AP Fastigheter AB, one of the largest real estate companies is Sweden. Mr Amir Bernstein is Israeli citizen and Country Manager (Switzerland) for an international real-estate investment and asset management company, but has recently been appointed Gazit-Globe Ltd.'s Vice President, responsible for their European operations. Gazit-Globe Ltd. is an Israeli property investment company listed on the Tel Aviv Stock Exchange and the main shareholder in Citycon Oyj. Said candidates have given their consent to the election. Additional information on the candidates is available on the company's website www.citycon.fi/agm2008. The current Board members, Mr Carl G. Nordman, Counsellor of Industry (Hon), and Mr Amir Gal, are no longer available for re-election. 9. Election of the auditor The Board of Directors proposes, as recommended by the Audit Committee, that the company's current auditor, Ernst & Young Oy, a firm of authorised public accountants, be re-elected as the auditor of the company. 10. Proposal by the Board of Directors to amend the terms and conditions of option plan 2004 Due to the fact that the Board of Directors proposes to the Annual General Meeting that, in addition to the dividend distribution, the company would return equity from the invested unrestricted equity fund, the Board of Directors proposes that the terms and conditions of the stock option plan 2004 be amended 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. It is further proposed that the Board of Directors be authorized to make the corresponding amendment to the terms and conditions of the share subscription of the stock option plan 2004. Financial Statements and Board of Directors' proposals Citycon Oyj's financial statements and related documents as well as the proposals by the Board of Directors are available on the company's website www.citycon.fi/agm2008. These documents are also available for shareholders' review at the corporate head office in Helsinki, Finland, and copies of them will be sent to a shareholder upon request. Right to attend the meeting A shareholder is entitled to attend the Annual General Meeting and exercise his/her right to vote if (s)he will have 1. Been registered as the company's shareholder in the shareholders' register, maintained by Finnish Central Securities Depository Ltd, on Monday, 3 March 2008 and 2. Notified the company of his/her attendance by 4 p.m. on Monday, 10 March 2008. Registration in the shareholders' register A shareholder whose shares have been entered in his/her personal book-entry securities account is registered in the company's shareholders' register. Shareholders holding nominee-registered shares who wish to attend the AGM can temporarily be registered in the shareholders' register. Such registration should take place on 3 March 2008 at the latest. For temporary registration, a shareholder holding nominee-registered shares should contact his/her account manager. Registration for the AGM If you wish to attend the AGM, please notify the company by either - filling in a registration form on the company's website www.citycon.fi/registration_for_the_AGM, - e-mail to satu.inkilainen@citycon.fi, - telephone +358 9 6803 670 / Satu Inkiläinen, - fax +358 9 6803 6788 or - mail addressed to Citycon Oyj, AGM, Pohjoisesplanadi 35 AB, FI-00100 Helsinki, Finland. Please send any proxies before the end of the registration period. Shareholders' register available for public review The company's shareholders' register per the record date for the AGM is available for public review from 4 March 2008 at Finnish Central Securities Depository Ltd's customer-service outlet, Urho Kekkosen katu 5 C, Helsinki. Helsinki, 22 February 2008 CITYCON OYJ The Board of Directors For further information, please contact: Petri Olkinuora, CEO, tel. +358 9 6803 6738 or mobile +358 400 333 256 Distribution: OMX Nordic Exchange Helsinki Major media www.citycon.fi