MODERN TIMES GROUP MTG AB FINANCIAL RESULTS FOR THE PERIOD JANUARY - DECEMBER 2003 Stockholm, 10 February 2004 - Modern Times Group MTG AB ("MTG") (Stockholmsbörsen: MTGA, MTGB) today announced its preliminary financial results for the three months and twelve months ending 31 December 2003. FULL YEAR HIGHLIGHTS - NET SALES UP 5% TO SEK 6,311 (6,023) MILLION - NET INCOME INCREASED TO SEK 289 (-67) MILLION, INCLUDING NON-RECURRING ITEMS OF SEK -99 (37) MILLION - EARNINGS PER SHARE INCREASED TO SEK 4.36 (-1.00) FOURTH QUARTER HIGHLIGHTS - NET SALES OF SEK 1,731 (1,730) MILLION - OPERATING INCOME INCREASED TO SEK 249 (66) MILLION - 26,000 INCREASE IN NUMBER OF PREMIUM SUBSCRIBERS TO 439,000 - PAY-TV OPERATING MARGIN OF 23% (21%), INCLUDING SEK 29 MILLION WRITE DOWN OF VIACESS SMART CARDS - 14% INCREASE IN OPERATING INCOME FROM TV3 SCANDINAVIA TO SEK 73 (64) MILLION, INCLUDING PROVISION OF SEK 38 MILLION 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 Henrik Persson, Investor & Press Enquiries tel: +44 (0) 20 7321 5010 MTG is an international media group with operations in more than 30 countries around the world and principal broadcasting businesses in Scandinavia, the Baltic States, Hungary and Russia. MTG is the largest Free-to-air and Pay-TV operator in the Nordic and Baltic regions and the largest commercial radio operator in Northern Europe. MTG´s Viasat channels reach approximately 50 million people in 14 countries every day and MTG Radio's stations reach of over 3 million daily listeners. The Viasat Broadcasting DTH satellite TV platform offers digital multichannel TV packages of 48 own-produced and third party entertainment channels. MTG is a leading European direct response TV network operator, broadcasting home shopping channels into 100 million homes in 52 countries, as well as one of the world's leading originators and producers of Reality TV formats and a global provider of subtitling and dubbing services to the entertainment industry. Modern Times Group MTG AB class A and B shares are listed on the Stockholmsbörsen O-list (symbols: MTGA and MTGB) ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/10/20040210BIT20460/wkr0006.pdf