April 4 2003


Modern Times Group MTG AB, the international media group, today
announced that its RIX FM national station is for the first time now
bigger than both P1 and P3, the two state owned national public service
radio stations. This is the first time in the history of the Swedish
radio industry that a commercial station has attracted more listeners
than the public service stations.

The latest survey by official industry research company ‘RUAB’ shows
that 860,600 (11.3%) of Swedes listen to RIX FM each day. This marks an
increase of 80,000 listeners for RIX since the survey conducted at the
same time last year. P1 and P3 attracted 805,800 and 783,600 daily
listeners respectively, whilst the distance between RIX and its
commercial rivals has increased with MIX Megapol and French radio group
NRJ attracting 457,900 and 518,100 daily listeners respectively.

RIX’s popular morning ‘drive time’ show, “RIX MorronZoo”, continued to
be the number one morning show in Sweden with 508,300 daily listeners,
compared to P3’s 448,500. The show was voted the best radio show in
Sweden and was awarded the “Guldhornet” award earlier this year, with
the nearest commercial show ranked tenth.

The combined daily reach of MTG Radio’s stations (RIX FM, Lugna
Favoriter, Power Hit Radio and Metro FM) is now 1,155,300 listeners.

MTG also owns and operates the two largest commercial radio channels in
Stockholm, ‘Lugna Favoriter’ and ‘Power Hit Radio’. Soft Adult
Contemporary format station ‘Lugna Favoriter’ increased its daily reach
in Stockholm to 152,500 listeners, equivalent to a 9.7% daily reach, and
continues to be Stockholm’s largest commercial station ahead of P3.
Contemporary Hit Radio format station ‘POWER Hit Radio’ increased its
daily listener numbers to 118,200, representing a 7.5% daily reach in
Sweden’s capital, and maintained its position as the second largest
commercial station in Stockholm. ‘POWER Hit radio’ beats all other
stations on the market, including the government stations, when it comes
to the target 15-34 year old age group.

Hans-Holger Albrecht, President and CEO of MTG, commented: “This is a
remarkable achievement and firmly establishes MTG Radio as the market
leader in Sweden. Despite the lower penetration available to commercial
stations, MTG has successfully built the largest national radio station
in Sweden and the leading stations in Stockholm and Gothenburg. Not only
do MTG’s stations attract the largest number of listeners, but we also
deliver the target groups that advertisers want. Both listeners and
advertisers appreciate a strong commercial player in the Swedish radio

For further information, please visit www.mtg.se, email info@mtg.se, or
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 is a leading vertically integrated media group with
broadcasting, production, content and media services businesses,
operating in more than 30 countries around the world. MTG is the largest
Free-and Pay- TV operator in the Nordic & Baltic region, and also has
Free-TV operations in Russia and Hungary. MTG is the largest commercial
radio broadcaster in Northern Europe, the global market leader in DVD
subtitling and dubbing, and a leading international Reality-TV
production house.

MTG’s ‘A’ and ‘B’ shares are traded on the Stockholmsbörsen ‘O-list’ and
its ‘B’ share ADRs are listed on Nasdaq.

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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