MTG REDEEMS THE MINORITY OWNERS IN METRO AND TV-SHOP Modern Times Group MTG AB has this day redeemed the minority owners in Tidnings AB Metro and TV Shop Europe AB. The total redemption amount is SEK 180 million. In both instances MTG honours its obligation to the founders of the companies. They took their business concepts to MTG and they started the companies as co-owners and leading executives. The operations of these companies are now wide-reaching. "We are very pleased to have been approached by such entrepreneurs with their viable business concepts. When the visions prove sustainable, growth substantial and we can spin off the media investments also in other markets, it is self-evident that this must be reflected in the valuation of the holding of the minority owners-entrepreneurs," states MTG president Pelle Törnberg. "If we are to be rich, then our founders and initiators will also be rich." Robert Braunerhielm is one of the founders of the Metro newspaper. Onetime distribution manager, editor-in-chief, sales manager and president of the newspaper, he comments: "We believed in the possibility of publishing a free, distributed, daily newspaper on the Stockholm underground. But we were turned down by banks and other media companies alike. Only when we came to MTG did we find a company group that believed in us. The rest is newspaper history." "I do not believe that any other media player would have given us such a good partnership. If I have a new business concept and need a partner, then I know where to turn." For further information, please visit www.mtg.se, or email info@mtg.se or contact: Hans-Holger Albrecht, President & CEO tel: +46 8 562 000 50 Matthew Hooper, Investor & Press Relations tel: +44 20 7321 5010 Modern Times Group MTG AB has seven business areas: Viasat Broadcasting (free-to-air and pay TV channels in nine countries), Radio (seven networks in five countries), New Media (the Everyday interactive TV portal, Internet portal, Mobile portal, and teletext services), Publishing (financial news and information services), Modern Interactive (home shopping, e-commerce, and logistics), SDI Media (subtitling and dubbing services), and Modern Studios (content production and library). Modern Times Group MTG AB's class A and B shares are listed on the Stockholmsbörsen O-list (symbols: MTGA and MTGB) and on the Nasdaq National Market in New York (symbol: MTGNY). MODERN TIMES GROUP MTG AB Skeppsbron 18, Box 2094, SE-103 13 Stockholm, Sweden Tel. +46 8 562 000 50 Fax. +46 8 20 50 74 (Publ) Registration No. 556309- 9158 www.mtg.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/07/20040107BIT00270/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/07/20040107BIT00270/wkr0002.pdf