MTG: Financial Results for the Third Quarter and Nine Months Ended 30 September 2004

Stockholm, SWEDEN


STOCKHOLM, Sweden, Oct. 19, 2004 (PRIMEZONE) -- Modern Times Group MTG AB ("MTG") (Stockholmsborsen: MTGA, MTGB) today announced its financial results for the third quarter and nine months ended 30 September 2004.

Third Quarter Highlights


 -- Group net sales up 8% to SEK 1,550 (1,436) million
 -- TV3 Scandinavia net sales up 17% to SEK 493 (421) million
 -- Group operating income up 7% to SEK 58 (54) million excluding
    SEK 381 million net gain from sale of SDI Media
 -- Net income up to SEK 407 (44) million
 -- Earnings per share increase to SEK 6.13 (0.67)

Nine Month Highlights


 -- Group net sales up 7% to SEK 4,893 (4,580) million
 -- TV3 Scandinavia net sales up 13% to SEK 1,615 (1,424) million
 -- Group operating income up 12% to SEK 327 (293) million excluding
    SEK 381 million net gain from sale of SDI sale
 -- Net income up to SEK 548 (127) million
 -- Earnings per share increase to SEK 8.25 (1.91)

Hans-Holger Albrecht, President and CEO of MTG, commented: "We are continuing to drive our clear strategy of developing our free-to-air and pay-TV broadcasting businesses in our core Scandinavian territories, as well as into high growth new Central and Eastern European markets. The integrated Viasat platform enables the group to generate multiple revenue streams and considerable operating synergies."

"The performance of our free-to-air businesses in the seasonally weakest advertising sales quarter of the year demonstrates that our investments in content are already paying off and we have continued to grow our market shares in all territories. We have also successfully implemented the secure new encryption system for Viasat's premium pay-TV channels in order to eliminate piracy and have further strengthened our premium pay- TV offering whilst remaining the price leader in each market."

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,Corporate Communications tel: +44 (0) 7768 440 414

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 15 countries across Europe and Viasat TV channels now reach over 50 million people every day. Modern Times Group MTG AB class A and B shares are listed on the Stockholmsborsen O-list (symbols: MTGA and MTGB)

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