Stockholm, 24 October 2005 – Modern Times Group MTG AB (“MTG”) (Stockholmsbörsen: MTGA, MTGB) today announced its financial results for the third quarter and nine months ended 30 September 2005. The Group’s consolidated accounts have been prepared according to International Financial Reporting Standards (IFRS) and reviewed by the Company’s auditors. THIRD QUARTER HIGHLIGHTS • Group net sales up 19% to SEK 1,846 (1,550) million • Group operating income almost tripled to SEK 227 (84) million (in 2004 excluding SEK 381 million net gain from sale of SDI Media) • Record third quarter intake of 42,000 premium DTH subscribers • Free-to-air TV Scandinavia net sales up 10% to SEK 642 (581) million and operating profit of SEK 101 (-46) million • Net income of SEK 177 (430) million (in 2004 including SEK 381 million net gain from sale of SDI Media) • Earnings per share of SEK 2.67 (6.48) NINE MONTH HIGHLIGHTS • Group net sales up 14% to SEK 5,567 (4,893) million • Group operating income up 83% to SEK 742 (405) million (in 2004 excluding SEK 381 million net gain from sale of SDI Media) • Net intake of 95,000 premium DTH subscribers • Free-to-air TV Scandinavia net sales up 10% to SEK 2,080 (1,899) million and operating profit of SEK 304 (18) million • Net income of SEK 867 (617) million (in 2005, including SEK 389 million net gain from sale of TV4 shares and, in 2004, including SEK 381 million net gain from sale of SDI Media) • Earnings per share up to SEK 13.04 (9.29) Hans-Holger Albrecht, President and CEO, commented: “We have now reported yet another record operating quarterly profit and delivered a double digit underlying group operating margin in the seasonally weakest quarter of the year. Each of our core broadcasting businesses has generated strong sales growth and further improvements in operating margins. “Our Scandinavian free-to-air operations have grown strongly across the board and benefited from reduced distribution costs and high incremental margins. Record premium subscriber intake on our Nordic pay-TV platform during the Summer reflects our enhanced content offering and premium package price leadership. At the same time, our operations in Eastern Europe have taken full advantage of continued market growth and their increasingly established market positions. “MTG’s balanced broadcasting business, with access to growing and structurally changing markets across Scandinavia, as well as the higher growth markets in Eastern Europe, is coupled with a highly efficient operating structure that enables the Group to benefit from significant operating advantages. The announced acquisition of TV Prima in the Czech Republic will add a well positioned channel asset in an attractive emerging market place to our portfolio. The launch of a range of new Viasat channels as well as our new PVR (Personal Video Recorder) Viasat+ product and service illustrates our commitment to using new, but proven technology to make our content as broadly available as possible, in order to increase viewer choice. We are on track to deliver the strategic goals that we set last year and continue to review new opportunities.”