METRO TO BUDAPEST Metro will now be launched in the Hungarian capital, Budapest. A distribution agreement has been made with the BKV, the subway company in Budapest. The name of the newspaper is "Metro Gratisz" (Metro Free of Charge). The new newspaper will be published by the company MTG-Metro-Gratisz KFT which is a joint venture between Metro International and two Hungarian parties. Metro in Budapest will look much the same as the other Metro- newspapers. It will be distributed free-of-charge, deriving revenue from advertising sales and with high journalistic level. Robert Braunerhielm, President of MTG Publishing, says in a comment: Metro has been concentrated to middle-sized cities in Europe, such as Stockholm, Prague and Gothenburg. We are convinced that Metro will be as successful in the economically expansive Budapest, as it is in the other cities. Metro in Budapest is supposed to start in spring 1998. Metro, which now has more than 600,000 daily readers, started two years ago. In a short time it became the second largest newspaper in Stockholm. In July this year, Metro Prague was launched. After just a couple of weeks, it became the largest newspaper in Prague. In February next year, Metro will be launched in Gothenburg. For further information, please visit www.mtg.se, or email info@mtg.se or contact: Hans-Holger Albrecht, President & CEO tel: +46 8 562 000 50 Matthew Hooper, Investor & Press Relations tel: +44 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 Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/05/20040105BIT00120/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/05/20040105BIT00120/wkr0002.pdf