MTG ACQUIRES ESTONIAN RADIO STATIONS MTG has today acquired three estonian radio stations that cover the towns of Tallinn, Tartu and Pärnu. These radio stations reach some 50 per cent of the Estonian population and 70 per cent of the market for advertising. MTG will be a partner in the stations and the program offering will be revamped to a format characterized as "soft adult contemporary" ("Soft AC"). In other words this is quiet music for adults, playing such artists as Mariah Carey, Rod Stewart, Whitney Houston and Elton John. The name of the radio channels in Estonia will be Easy FM. "Soft adult contemporary is one of the most successful formats in the world. But up to now it has been lacking in Estonia, which should mean that the listener potential is large," says Anders Nilsson, President of MTG Radio. 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/2004/01/07/20040107BIT00120/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/07/20040107BIT00120/wkr0002.pdf