MTG offers to take over TV4 licence in Sweden

June 11 2003

MTG OFFERS TO TAKE OVER TV4 LICENCE IN SWEDEN

Modern Times Group MTG AB, the international media group, today
announced that it has written to Sweden’s Ministry of Culture, offering
to take over TV4’s national commercial TV broadcasting license in the
Swedish terrestrial analogue network. This follows the Swedish
government’s enquiry into the annual concession fee that TV4 has to pay
for its licence, and could generate over SEK 1 billion for the Swedish
government.

MTG is prepared to accept the current concession agreement with all its
existing terms and conditions.

MTG’s proposal comes after a special Government enquiry into the terms
of the current agreement, which has recommended a 20% reduction in the
license fee per annum over the next five years.

MTG’s letter to the Swedish Minister of Culture, Marita Ulvskog, states:
“Modern Times Group MTG AB considers the current conditions of the
licence – including the original concession fee – to be favourable to
the extent that the company would be prepared to take up the license to
broadcast commercial TV in the terrestrial network, without any changes
to the existing agreement. The reason for introducing a license fee
together with the terrestrial license was that the TV broadcaster
controlling the terrestrial commercial license has a significant
competitive advantage in terms of penetration over the channels
distributed via satellite.”

Hans-Holger Albrecht, President and CEO of MTG, commented: “The terms
and conditions of the concession are fair and the competitive advantage
for the licence holder is considerable for the foreseeable future, so we
would be more than happy to take over the license and all of its
existing commitments”.

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 Enquiries tel: +44 (0) 20 7321 5010

Modern Times Group MTG AB has five business areas: Viasat Broadcasting
(free-to-air and pay-TV broadcasting operations in nine countries and
teletext operations in four countries), Radio (seven national networks
or local stations in five countries), TV-Shop (home shopping and
logistics), SDI Media (subtitling and dubbing services), and Modern
Studios (content production and distribution).

Modern Times Group MTG AB 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).

This press release contains certain “forward-looking statements” with
respect to our expectations and plans, strategy, management’s
objectives, future performance, costs, revenues, earnings and other
trend information. It is important to note that our actual results in
the future could differ materially from those anticipated in forward-
looking statements depending on various important factors. Please refer
to the documents we have filed with the U.S. Securities and Exchange
Commission under the U.S. Securities Exchange Act of 1934, as amended,
including our most recent annual report on Form 20-F, for a discussion
of certain of these factors.

All forward-looking statements in this press release are based on
information available to us on the date hereof. All written or oral
forward-looking statements attributable to Modern Times Group, any
Modern Times Group members or persons acting on our behalf are expressly
qualified in their entirety by the factors referred to above. We do not
intend to update these forward-looking statements.


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The following files are available for download:
http://www.waymaker.net/bitonline/2003/06/11/20030611BIT00490/wkr0001.doc
http://www.waymaker.net/bitonline/2003/06/11/20030611BIT00490/wkr0002.pdf

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