Annual general meeting of shareholders

May 16 2002

ANNUAL GENERAL MEETING OF SHAREHOLDERS

Modern Times Group MTG AB, the international media group, today
announced that all resolutions proposed to its Annual General Meeting of
shareholders in Stockholm today were passed.

Carl Lindgren was elected as auditor and Björn Flink was elected as
deputy auditor. In accordance with the share option scheme that was
approved at the Extraordinary General Meeting of shareholders on 16
February 2001, the meeting voted to authorize the Board of Directors to
issue debentures with not more than 127,476 detachable warrants, on one
or more occasions at any time before the next Annual General Meeting of
shareholders, entitling the holders to subscribe for new shares in the
Group. The right to subscribe for debentures shall, disregarding the
shareholders’ preferential rights, be given to wholly owned subsidiaries
in the group. The reason for this decision is to secure the option
undertakings under the above-mentioned incentive programme and to cover
administrative costs and social fees or similar taxes arising under the
incentive programme.

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
Investor & Press Relations tel: +44 (0) 20
7321 5010

Modern Times Group MTG AB has six business areas: Viasat Broadcasting
(free-to-air and pay TV channels in nine countries, and the new media
businesses – teletext operations and the Everyday interactive TV,
internet and mobile portals), Radio (local and national networks in five
countries), 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 rights library).

Modern Times Group MTG AB’s 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 in New York (symbol: MTGNY).


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The following files are available for download:
http://www.waymaker.net/bitonline/2002/05/16/20020516BIT00790/wkr0001.doc
http://www.waymaker.net/bitonline/2002/05/16/20020516BIT00790/wkr0002.pdf

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