MTG: Financial results for the period January -- June 2003

Stockholm, SWEDEN


STOCKHOLM, Sweden, Aug. 6, 2003 (PRIMEZONE) -- Modern Times Group MTG AB ("MTG") (Stockholm:MTGA) (Nasdaq:MTGNY) today announced its preliminary financial results for the second quarter and first six months ended 30 June 2003.

SECOND QUARTER HIGHLIGHTS

-- Group Operating Income, Excluding Non-Recurring Capital Gains Last Year, Increased To Sek 159 (41) Million

- Pre-Tax Profit Amounted To Sek 104 (53) Million

- Net Sales Up By 8% To Sek 1,631 (1,506) Million and MTG Increased Its Market Share For Both Radio And Tv Advertising In The Nordic Region

- TV3 Scandinavia Net Sales Up 14% Year-On-Year To Sek 561 (492) Million

- Operating Income From Pay-TV Operations Increased To Sek 127 (88) Million

- Swedish Radio Operations Report Operating Profit


 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
 Mia Brunell, Chief Financial Officer         tel: +46 (0) 8 562 000 50
 Matthew Hooper, Investor & Press Relations   tel: +44 (0) 20 7321 5010

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The following files are available for download:

http://www.waymaker.net/bitonline/2003/08/06/20030806BIT00550/wkr0002.pdf

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