SDI STARTS OPERATIONS IN LATVIA Subtitling & Dubbing International (SDI) continues its expansion by establishing itself in Latvia. Establishment has been implemented by taking over TV3 Latvia´s staff and technology, including technology for subtitling of the channel´s TV programmes. Operations will be conducted in the newly established SDI Latvia, based in Riga. A prime objective is to associate external customers with the business. SDI has developed into one of the world´s largest suppliers of subtitling and dubbing for TV, video and cinema. SDI was founded in 1981 and operates in Sweden, Norway, Denmark, Finland, Estonia, Lithuania, the Netherlands, United Kingdom, Lebanon, Hong Kong, Japan, Taiwan and Thailand. In Latvia, besides subtitling, operations will also include voice-over, a simpler form of dubbing. SDI operates in an industry where international presence provides a competitive edge. Local versions of subtitling of TV programmes simplify and result in higher quality and lower costs for customers. The market is expected to expand thanks to the growing number of TV channels. The agreement with TV3 Latvia is not expected to have any significant effect on the 1999 MTG results. For further information, please visit www.mtg.se, or email info@mtg.se or contact: Hans-Holger Albrecht, President & CEO tel: +46 8 562 000 50 Matthew Hooper, Investor & Press Relations tel: +44 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 ADRs are listed 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.waymaker.net/bitonline/2004/01/07/20040107BIT00300/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/07/20040107BIT00300/wkr0002.pdf