ANNUAL GENERAL MEETING OF SHAREHOLDERS Modern Times Group MTG AB, the international media group, today announced that all resolutions proposed to its Annual General Meeting of shareholders in Stockholm today were passed. Carl Lindgren was elected as auditor and Björn Flink was elected as deputy auditor. In accordance with the share option scheme that was approved at the Extraordinary General Meeting of shareholders on 16 February 2001, the meeting voted to authorize the Board of Directors to issue debentures with not more than 127,476 detachable warrants, on one or more occasions at any time before the next Annual General Meeting of shareholders, entitling the holders to subscribe for new shares in the Group. The right to subscribe for debentures shall, disregarding the shareholders' preferential rights, be given to wholly owned subsidiaries in the group. The reason for this decision is to secure the option undertakings under the above-mentioned incentive programme and to cover administrative costs and social fees or similar taxes arising under the incentive programme. For further information, please visit www.mtg.se, email info@mtg.se, or contact: Hans-Holger Albrecht, President & CEO tel: +46 (0) 8 562 000 50 Investor & Press Relations tel: +44 (0) 20 7321 5010 Modern Times Group MTG AB has six business areas: Viasat Broadcasting (free-to-air and pay TV channels in nine countries, and the new media businesses - teletext operations and the Everyday interactive TV, internet and mobile portals), Radio (local and national networks in five countries), Publishing (financial news and information services), Modern Interactive (home shopping, e-commerce, and logistics), SDI Media (subtitling and dubbing services), and Modern Studios (content production and rights library). Modern Times Group MTG AB's class A and B shares are listed on the Stockholmsbörsen O-list (symbols: MTGA and MTGB) and ADRs are listed on the Nasdaq National Market in New York (symbol: MTGNY). ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/05/16/20020516BIT00790/wkr0001.doc http://www.waymaker.net/bitonline/2002/05/16/20020516BIT00790/wkr0002.pdf