MTG RENEWS DISTRIBUTION CONTRACTS WITH TDC AND TELIA STOFA

August 21 2003

MTG RENEWS DISTRIBUTION CONTRACTS WITH TDC AND TELIA STOFA

Modern Times Group MTG AB, the international media group, today
announced that it has renewed its distribution contracts with a number
of leading Danish cable operators including TDC Kabel TV and Telia
Stofa. MTG’s channels are the most popular satellite and cable channels
in Denmark and the new contracts reach over 50% of all Danish TV
households.

Typically, new distribution contracts are signed for a two-year period,
however, the new MTG contracts have been awarded for longer periods. The
new contracts will commence on the 1st September 2003.

MTG’s contract with TDC Kabel TV, which covers approximately 900,000 of
the total 2.4 million TV households in Denmark, includes TV3, 3+ and
Viasat sport. The contract with Telia Stofa, which reaches 350,000 cable
households, includes TV3 and 3+. The existing Telia Stofa contract with
Viasat Sport continues as before. MTG has also negotiated new agreements
with a number of smaller cable operators and hopes that the
renegotiations of existing contracts will be finalised shortly.

MTG recently acquired the rights for popular sports events such as the
SAS league, which is the Danish premier league in Football, the
Champions league, the US and European PGA golf tours and Formula 1.

Niels Brening, CEO of TDC Kabel TV commented: “TV3 and 3+ are without
doubt the most popular satellite and cable TV channels in Denmark, not
least because of their exclusive coverage of leading sports events which
has also boosted Viasat Sports popularity. Therefore we are delighted to
be able to keep these channels in our programme package.”

Hans-Holger Albrecht, President and CEO of MTG, commented: “These new
contracts show the popularity of our channels in Denmark, as Viasat’s
position as the entertainment brand for sport goes from strength to
strength. It also shows the success of our continued investment in new
sports’ rights and stronger content.”

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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