Radio p4 hele Norge awarded new radio license in norway

June 27 2003

RADIO P4 HELE NORGE AWARDED NEW RADIO LICENSE IN NORWAY

Modern Times Group MTG AB, the international media group, today
announced that the Norwegian Ministry of Culture has decided to award
Radio P4 Hele Norge the P5 license. The license agreement runs for 10
years and the concession fee is NOK 90m for the full period. The license
guarantees a minimum penetration of 60% of the Norwegian population.

MTG owns 10,673,508 shares in Radio P4 Hele Norge, representing 33% of
capital and votes in the company.

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/2003/06/27/20030627BIT00550/wkr0001.doc
http://www.waymaker.net/bitonline/2003/06/27/20030627BIT00550/wkr0002.pdf

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