Stockholm, 16 February 2005 - Modern Times Group MTG AB (“MTG”) (Stockholmsbörsen: MTGA, MTGB) today announced its preliminary financial results for the fourth quarter and twelve months ended 31 December 2004. FOURTH QUARTER HIGHLIGHTS • Group net sales up 12% to SEK 1,943 (1,731) million • TV3 Scandinavia net sales up 16% to SEK 678 (583) million • Quarterly net intake of 52,000 digital premium subscribers • Group operating income of SEK 246 (249) million including SEK 66 million write down in Modern Entertainment • Net income of SEK 106 (163) million • Earnings per share of SEK 1.60 (2.45) FULL YEAR HIGHLIGHTS • Group net sales up 8% to SEK 6,836 (6,311) million • TV3 Scandinavia net sales up 14% to SEK 2,293 (2,007) million • Record result in Group history with operating income up 6% to SEK 573 (542) million excluding SEK 381 million net gain from sale of SDI Media • Net income up to SEK 654 (289) million • Earnings per share increase to SEK 9.85 (4.36) Hans-Holger Albrecht, President and CEO of MTG, commented: “Despite 2004 being a year of significant investment and increased competition for MTG, we have delivered the Group’s highest ever annual operating result. The fourth quarter net premium subscriber intake was also the highest since the digitalisation of the Viasat platform in 2000.” “In line with the clearly articulated business strategy for our Scandinavian and Central and East European broadcasting operations, investments have been made in programming for our free-to-air channels; in new sports, movie and documentary channels to further strengthen our pay-TV offering; in the implementation of a new security system on the Viasat platform to eliminate piracy; and in the cooperation to develop the national commercial radio market in Sweden. We have also increased our equity holdings in core broadcasting assets in Norway and Russia.” “These developments have enabled us to win increased market shares and have already begun to pay off in accelerated sales growth, as well as positioning us well to benefit from high incremental operating margins moving forward due to our efficient and flexible operating structure. We continue to roll-out our channels into new territories and onto additional networks, in order to take advantage of increased digitalisation in our home markets and of the rapid development of the broadcasting landscape in Eastern Europe.” 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