MTG RADIO AND SRU EXTEND COOPERATION MTG Radio has renewed its agreement with Svensk Radioutveckling (SRU). This will secure the operation of Sweden's biggest commercial network, RIX FM, for its next broadcast license period, through the end of the year 2008. "We began collaborating in 1995, and it has worked out very well. At the same time, the network has grown much faster than the market on average. That is true of listening audience as well as revenues. So it was natural that we would extend our agreement," says Mats Reimertz, president of SRU and vice president of the Swedish newspaper company Göteborgs-Posten (both owned by the parent company Stampen). SRU has licenses for 10 stations in the RIX FM network, which is operated by MTG Radio, a business area in Modern Times Group MTG AB. At the same time as the contract is being extended, ownership of the license for the RIX FM station in Gothenburg is changing. The license is currently held by the Göteborgs-Posten group but will be transferred to MTG Radio's portion of the network. For some time, MTG Radio has operated Power Hit Radio in Gothenburg (and in Stockholm). "This will allow us to operate both of the Gothenburg stations more efficiently than we do today, based on our experience in Stockholm. This also gives us more options for bundling advertising, for local and national markets," says Anders Nilsson, president of MTG Radio. RIX FM is Sweden's biggest commercial network, with 25 stations and the most listeners. It is also the strongest brand in the commercial radio market in Sweden. For additional information, please contact Anders Nilsson, president, MTG Radio, phone +46 8 5627 2000, or Mats Reimertz, president of SRU, phone +46 31 624-510. Modern Times Group MTG AB is listed on the Stockholm Stock Exchange's O list (symbol: MTG) and on the Nasdaq National Market in New York (symbol: MTGNY). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/18/19991018BIT00610/bit0001.doc http://www.bit.se/bitonline/1999/10/18/19991018BIT00610/bit0002.pdf