Stockholm, 21 April 2005 - Modern Times Group MTG AB (“MTG”) (Stockholmsbörsen: MTGA, MTGB) today announced its preliminary financial results for the first quarter ended 31 March 2005. The Group’s consolidated accounts have been prepared according to International Financial Reporting Standards (IFRS) for the first time. FIRST QUARTER HIGHLIGHTS • Group net sales up 11% to SEK 1,742 (1,571) million • TV3 Scandinavia net sales up 15% to SEK 561 (487) million • Quarterly net intake of 25,000 premium subscribers •Group operating income up 61% to SEK 179 (111) million •Net income of SEK 479 (45) million, including SEK 389 million net gain from sale of TV4 shares •Earnings per share of SEK 7.21 (0.68) Hans-Holger Albrecht, President and CEO of MTG, commented: “Although the first quarter is a seasonally weaker sales period, we showed continued strong sales growth in all of our three core businesses – Free-to-air TV Scandinavia, Pay-TV Nordic and the Central & East European operations. Our Scandinavian free-to-air businesses reported a near 9% operating margin and our quarterly sequential pay-TV margin in the Nordic region increased to 20%. The investments that we have made in programming and penetration are clearly paying off in increased advertising market shares and subscriber growth, as well as increased profitability levels.” 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 Mia Brunell, Chief Financial Officer tel: +46 (0) 8 562 000 50 Matthew Hooper, Corporate Communications tel: +44 (0) 7768 440 414