MTG APPLIES FOR DIGITAL TERRESTRIAL BROADCASTING LICENCES Modern Times Group MTG AB, the international media group, today announced that it has applied for licenses to broadcast its Viasat television channels on the Swedish digital terrestrial broadcasting network. The application is conditional on the result of ongoing negotiations regarding Viasats wish to become an operator of the digital terrestrial network. The presence of Viasats channels on the digital terrestrial network would increase the range of content available to TV households, and the inclusion of Viasat as an additional operator of the digital network would benefit viewers by creating freedom of choice. 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 Matthew Hooper, Investor & Press Enquiries tel: +44 (0) 207321 5010 Modern Times Group MTG AB has five business areas: Viasat Broadcasting (free-to-air and pay-TV broadcasting operations in nine countries and teletext operations in four countries), Radio (seven national networks or local stations in five countries), TV-Shop (home shopping and logistics), SDI Media (subtitling and dubbing services), and Modern Studios (content production and distribution). Modern Times Group MTG AB class A and B shares are listed on the Stockholmsbörsen O-list (symbols: MTGA and MTGB) and ADRs are listed on the Nasdaq National Market (symbol: MTGNY). This press release contains certain "forward-looking statements" with respect to our expectations and plans, strategy, management's objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that our actual results in the future could differ materially from those anticipated in forward- looking statements depending on various important factors. Please refer to the documents we have filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including our most recent annual report on Form 20-F, for a discussion of certain of these factors. All forward-looking statements in this press release are based on information available to us on the date hereof. All written or oral forward-looking statements attributable to Modern Times Group, any Modern Times Group members or persons acting on our behalf are expressly qualified in their entirety by the factors referred to above. We do not intend to update these forward-looking statements. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/09/23/20030923BIT00110/wkr0001.doc http://www.waymaker.net/bitonline/2003/09/23/20030923BIT00110/wkr0002.pdf