MTG TO HEDGE US DOLLAR AND SWISS FRANC CURRENCY EXPOSURE Modern Times Group MTG AB, the international entertainment broadcasting group, today announced that it will hedge its US dollar and Swiss Franc denominated contracted outflow on a rolling twelve month basis. The items to be hedged relate to programming content acquired in foreign currencies. The hedging programme will reduce short-term currency translation effects on the group's cost base. 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, Corporate Communications tel: +44 (0) 20 7321 5010 Modern Times Group is an international entertainment broadcasting group with operations in more than 30 countries around the world. MTG is the largest Free-to-air and Pay-TV operator in Scandinavia and the Baltics, the largest shareholder in Russia´s fourth largest television network, and the number one commercial radio operator in the Nordic region. The Viasat DTH satellite TV platform offers digital multi-channel TV packages of 50 own-produced and third party entertainment channels to viewers in 15 countries across Europe and Viasat TV channels now reach over 50 million people every day. 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/2004/11/12/20041111BIT20690/wkr0019.pdf