Modern Times Group MTG AB Financial Results For The Nine Months Ended 30 September 2003

Stockholm, SWEDEN


STOCKHOLM, Sweden, Oct. 22, 2003 (PRIMEZONE) -- Modern Times Group MTG AB ("MTG") (Other OTC:MTGNF) (Nasdaq:MTGNY) today announced its preliminary financial results for the third quarter and nine months ended 30 September 2003.

NINE MONTHS ENDED 30 SEPTEMBER 2003

- Net Sales Up 7% To SEK 4,580 (4,293) Million

- Net Income Up More Than Four Times To SEK 127 (27) Million

- Earnings Per Share Of SEK 1.91 (SEK 0.41)

Third Quarter Highlights

- Net Sales Up 5% To SEK 1,436 (1,371) Million

- EBIT Up To SEK 54 (-23) Million

- TV3 Scandinavia Net Sales Up 7% To SEK 421 (394) Million

- Number Of Digital Pay-TV Subscribers Increases To 599,000

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/2003/10/22/20031022BIT00610/wkr0001.doc

The full report

http://www.waymaker.net/bitonline/2003/10/22/20031022BIT00610/wkr0002.pdf

The full report