MODERN TIMES GROUP MTG ABFINANCIAL RESULTS FOR THE PERIOD JANUARY - DECEMBER 2002 Stockholm, February 12, 2003 - Modern Times Group MTG AB ("MTG") (Stockholmsbörsen: MTGA, MTGB; Nasdaq: MTGNY), the international media group, today announced its preliminary financial results for the full year and fourth quarter of 2002, ending December 31, 2002. · Net sales of SEK 1,730 (1,852) million for the quarter and operating income before non-recurring items of SEK 192 (225) million, resulting in an operating margin of 11%. · Net sales of SEK 6,023 (6,402) million for the full year and operating income before non-recurring items of SEK 230 (375) million, resulting in an operating margin of 4%. · Non-recurring items of SEK -126 million for the quarter and SEK 37 for the full year, including a capital gain of SEK 163 million, a provision of SEK 96 million for closures and write offs, and SEK 30 million in sponsorship costs for Victory Challenge. · SEK 423 million increase in operating free cash flow to SEK 345 (- 78) million for the full year, or SEK 5.20 (-1.18) in operating free cash flow per share for the full year. · The number of digital subscribers increased during the quarter to 617,000; more than doubling of Pay-TV operating income to SEK 352 (164) million for the full year. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/02/12/20030212BIT00870/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/02/12/20030212BIT00870/wkr0002.pdf The full report