METRO TO BE DISTRIBUTED TO SHAREHOLDERS Today, the Board of Directors of Modern Times Group MTG AB decided to propose to the annual meeting of shareholders scheduled for May 25, 2000, that all shares in Metro International SA will be distributed to the shareholders of MTG. Metro International SA includes Metro International as well as those parts of MTG´s publishing businesses that consists of the Metro editions in MTG´s core geographical markets, the Nordic countries. Metro is published in Stockholm, Gothenburg, Malmö, and Helsinki. Outside the Nordic countries, the newspaper is published in Prague, Budapest, the Netherlands, Newcastle, Zurich, Santiago de Chile, and Philadelphia, a total of 11 editions. The Board proposes that each share in MTG entitle its holder to one share in Metro International SA. All the outstanding shares of Metro will be distributed to the shareholders of MTG. There is future potential dilution of 35 percent from a convertible loan from MTG, options to the original founders and existing and future management of Metro. "Metro is the fastest growing product in the print media market today with a truly global potential. MTG´s other businesses are international but the markets are often national and the focus is mainly regional. Both businesses will do better by developing independently. In addition, todays financial markets prefer pure plays, says Pelle Törnberg, CEO of MTG. Pelle Törnberg will initially also serve as CEO of Metro International SA. At today´s meeting Hans-Holger Albrecht, president of the Viasat Broadcasting business area, was appointed Chief Operating Officer (COO) of MTG. The executive management of Metro International SA will in addition consist of senior vice presidents Jan Sjöwall, Jens Torpe and Steve Nylundh. -The geographical expansion of the newspaper Metro is likely to continue at an accelerating pace. We are negotiating in some very existing cities. We will soon launch an international monster Internet portal, in which all local editions in local languages will be accessable throughout the world. In addition we plan to provide news as well as services from all participating Metro cities, says Jan Sjöwall senior vice president of Metro International. An information memorandum about the Metro dividend will be distributed early May. A complete prospectus will be distributed before listing. The Board of MTG proposes to list the shares of Metro International SA in Stockholm and New York (Nasdaq). At the annual meeting of shareholders, Asger Aamund is intended to be proposed for the election as a member of the Board of MTG, and Johan Hakelius is intended to be proposed for the election as a deputy member of the Board. Asger Aaumund, 60, is Chairman of the Board of the Danish subsidiaries of MTG, Tele2, and TV3. He is a major shareholder of Bavarian Nordic Research Institute, NeuroSearch and NeuroTech. He has many years' experience as a senior executive and as a boardmember of Danish enterprises. Johan Hakelius, 33, is editor in chief of Finanstidningen. Hakelius previously worked as a editorial writer of the nationwide daily Svenska Dagbladet and in 1999 became Finanstidningen's first political affairs editor, when the newspaper decided to start an editorial page. In January 2000, he was appointed editor in chief of the opinion and culture section. For additional information, please contact Pelle Törnberg, president and CEO of MTG and Metro International, at +46-8-5620 0050. Modern Times Group MTG AB is listed on the OM Stockholm 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/2000/04/18/20000418BIT00880/bit0001.doc http://www.bit.se/bitonline/2000/04/18/20000418BIT00880/bit0002.pdf