MTG ANNOUNCES UPDATED FINANCIAL BREAK-DOWN ON MTG.SE AS A RESULT OF CHANGES IN SWEDISH GAAP, MODERN TIMES GROUP MTG AB WILL, AS PREVIOUSLY ANNOUNCED, ADJUST THE YEAR 2000 FINANCIALS TO REFLECT THESE CHANGES FROM THE RELEASE OF THE NUMBERS FOR THE FIRST QUARTER 2001, DUE ON APRIL 25. THE DETAILED BREAK-DOWN IS NOW AVAILABLE UNDER SECTION "FINANCIAL INFORMATION" ON MTG'S WEB PAGE. GO TO "YEAR END REPORT 2000" AND TO "FINANCIAL INFORMATION ADJUSTED TO NEW SWEDISH GAAP" ON MTG'S HOMEPAGE WWW.MTG.SE. THE MAIN CHANGES IN SWEDISH GAAP THAT INFLUENCE THE ACCOUNTING IN MTG ARE; · NO START-UP COSTS ARE CAPITALIZED AND · CONSEQUENTLY, DEPRECIATION ON PREVIOUSLY CAPITALIZED START-UP COSTS IS NOT INCLUDED. THE MAJOR IMPACT ON THE 2001 INCOME STATEMENT IN MTG IS: · REDUCED DEPRECIATION OF APPROXIMATELY 130 MSEK, OF WHICH 40 MSEK ARE RECLASSIFIED TO OTHER OPERATING EXPENSES. THE POSITIVE NET EFFECT ON EARNINGS IS THEREFORE 90 MSEK. · NO DEPRECIATION ON THE INVESTMENT FOR CONVERSION TO DIGITAL TV, AND · NEW START-UPS LIKE THE TV VENTURES IN HUNGARY AND RUSSIA, ARE EXPENSED OVER THE INCOME STATEMENT. For additional information, please visit www.mtg.se, send e-mail to info@mtg.se, or contact: Mia Brunell, CFO +46 (0) 8 562 000 33 Bert Willborg, Press enquiries +46 (0) 8 562 000 51 Modern Times Group MTG AB consists of seven business areas. Viasat Broadcasting (free-TV and pay-TV comprising 18 TV channels in eight countries), Radio (seven networks in five countries), New Media (Everyday the interactive TV portal and Internet portal, text TV), Publishing (the daily Finanstidning, other financial information, magazines, and books), Modern Interactive (traditional home shopping, e- commerce, and logistics), SDI Media (subtitling and dubbing), and Modern Studios (content producers and rights catalog). Modern Times Group MTG AB is listed on Stockholmsbörsen (O list, symbols: MTGA and MTGB) and on the Nasdaq National Market in New York (symbol: MTGNY). ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/10/20010410BIT00810/bit0001.doc http://www.bit.se/bitonline/2001/04/10/20010410BIT00810/bit0001.pdf