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. Asger Asmund, David Chance, Lars-Johan Jarnheimer, Stig Nordin, Jan Hugo Stenbeck and Pelle Törnberg were all re-elected as members of the Board of Directors. Johan Hakelius was re-elected as a Deputy Member of the Board of Directors. Hans Karlsson was re-elected as Auditor for the Group and Carl Lindgren 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 authorise the Board of Directors to issue debentures with not more than 342,140 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. Only wholly-owned subsidiaries of the Group will be entitled to subscribe for the debentures. Shareholders also resolved to authorise the Board of Directors to issue convertible bonds, on one or more occasions at any time before the next Annual General Meeting of shareholders, with a value not exceeding EUR 140,000,000. The bonds may only be converted into MTG B shares. For further information, please visit www.mtg.se, send an email to info@mtg.se, or contact: Hans-Holger Albrecht, President & CEO tel: +46 (0) 8 562 000 50 Communications Director tel: +44 (0) 20 7321 5010 Modern Times Group MTG AB has seven business areas: Viasat Broadcasting (free-to-air and pay TV channels in nine countries), Radio (seven networks in five countries), New Media (the Everyday interactive TV portal, Internet portal, Mobile portal, and teletext services), 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 library). Modern Times Group MTG AB's class A and B shares are listed on the Stockholmsbörsen O list ( symbols: MTGA and MTGB) and on the Nasdaq National Market in New York (symbol: MTGNY). Modern Times Group MTG Ab Skeppsbron 18, Box 2094, SE-103 13 Stockholm, Sweden Tel. +46 8 562 000 50 Fax. +46 8 20 50 74 (Publ) Registration No. 556309- 9158 www.mtg.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/17/20010517BIT00640/bit0001.doc http://www.bit.se/bitonline/2001/05/17/20010517BIT00640/bit0002.pdf