MTG SIGNS NEW CONTRACT WITH SPANISH TV CHANNEL Modern Times Group MTG AB, the international media group, today announced that its Spanish subsidiary, IMS, has extended its contract with Telemadrid, the leading commercial TV broadcaster in the Madrid area of Spain, until 2004. IMS Spain produces content and sells advertising for teletext and other interactive platforms. The value of the contract to IMS Spain, over its full term, is expected to be SEK 40 million. As part of the agreement, IMS Spain will also provide teletext services to up to four other channels owned by TeleMadrid, which will increase both penetration and reach and, thereby, drive advertising sales growth. Telemadrid has committed to the wider promotion of the teletext service and a joint product development team has been established in order to develop new applications. The team will focus on developing content and services for new interactive platforms including digital television. IMS Spain's sister company, InTV, extended its similar contract with Spanish national commercial TV broadcaster, Telecinco, to 2006 last year. The value of the contract was estimated at SEK 400 million. Hans-Holger Albrecht, President & CEO of MTG, commented: "The extension of our contracts in Spain demonstrate the value of the services that we continue to develop for broadcasters and sell to advertisers. These become even more profitable in the context of the digital environment. The Spanish operations have shown strong sales growth and ongoing innovation and indicate the potential of MTG's expansion of its businesses and service offerings into new markets". MTG's operations in Spain were established in 1995 and continue to develop applications for interactive platforms including chat services through teletext and SMS, and WAP services. Both InTV and IMS Spain are part of MTG's New Media operating division and reported 2000 sales of SEK 45.7 million. 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 Investor / Media Relations tel: +44 (0) 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.bit.se/bitonline/2001/07/13/20010713BIT00390/bit0001.doc http://www.bit.se/bitonline/2001/07/13/20010713BIT00390/bit0001.pdf