MTG invests in convertible bond issue

May 14 2002

NOT FOR DISTRIBUTION IN THE UNITED STATES

MTG INVESTS IN CONVERTIBLE BOND ISSUE
Modern Times Group MTG AB, the international media group, today
announced that it has subcribed to an issue of convertible notes by
Metro International S.A. The principal amount of the notes is US$ 20
million and they have a five year yield to maturity in 2007.
The notes are convertible into Metro International S.A. B shares at a
price of US$ 2.01 (SEK 20.50) per share and have an annual coupon of
6.25%. The notes are issued and redeemed at 100% (par value). The
terms of the convertible notes have been based on an independent fair
market valuation.

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, 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 (symbol: MTGNY).


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The following files are available for download:
http://www.waymaker.net/bitonline/2002/05/14/20020514BIT01340/wkr0001.doc
http://www.waymaker.net/bitonline/2002/05/14/20020514BIT01340/wkr0002.pdf

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