SALE OF MODERN ENTERTAINMENT MOVIE RIGHTS

July 14 2005

Modern Times Group MTG AB, the international entertainment-broadcasting group, today announced that it has signed an agreement to sell the majority of Modern Entertainment’s movie title rights to Lions Gate Entertainment for an undisclosed consideration. MTG has also announced its intention to close down the Modern Entertainment business in due course. This will have little impact on MTG’s financial results moving forward.

Modern Entertainment licenses film rights to theatrical and DVD distributors, broadcasters and cable networks around the world. Modern Entertainment is based in Los Angeles and operates within the Modern Studios business area. US-based Lions Gate Entertainment is the premier independent filmed entertainment producer and distributor, and has one of the global entertainment industry’s largest libraries.

Hans-Holger Albrecht, President and CEO of MTG, commented: “This disposal and the decision to close down Modern Entertainment reflect our strategy to focus on our core broadcasting operations and directly related businesses in Europe”.

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, Corporate Communications
tel: +44 (0) 20 7321 5010

Modern Times Group is an international entertainment-broadcasting group with operations in more than 30 countries around the world. MTG is the largest Free-to-air and Pay-TV operator in Scandinavia and the Baltics, the largest shareholder in Russia´s fourth largest television network, and the number one commercial radio operator in the Nordic region. The Viasat DTH satellite TV platform offers digital multi-channel TV packages of 50 own-produced and third party entertainment channels to viewers in 19 countries across Europe and Viasat TV channels now reach over 60 million people every day.

Modern Times Group MTG AB class A and B shares are listed on the Stockholmsbörsen O-list under the symbols ‘MTGA’ and ‘MTGB’.

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