MTG Radio enters Finland

MTG RADIO ENTERS FINLAND MTG Radio will purchase 24% of the shares in P4 Finland Oy. The agreement includes MTG Radio taking over management responsibility for two stations with almost nationwide coverage. In March, P4 Finland Oy obtained the rights to operate two radio stations, one reaching about 2.8 million potential listeners and the other 2.0 million. In addition to responsibility for managing the stations, MTG Radio's purchase of the 24% stake entails responsibility for financing the company. "We can operate the networks with much lower production costs than is possible in Sweden. Our goal is for the company to become one of the leading radio operators in Finland," says Anders Nilsson, president of MTG Radio. One of the networks, Groove Radio, is already broadcasting. The other will start this autumn. The acquisition is in line with MTG Radio's strategy to gain a solid footing in MTG's core markets, that is, the Nordic countries and Baltic states. MTG Radio runs Sweden's biggest radio network, RIX FM, and the most popular radio stations in Stockholm and Gothenburg, Power Hit Radio. Since the start of 1999, the business area MTG Radio has also entered the Estonian and Latvian markets, through Easy FM. In addition, MTG is the biggest investor in P4 Radio Hele Norge, with a 33.1% stake. Taking over management responsibility for the Finnish radio stations is one of several ventures into Finland by the Modern Times Group this year. A decision has been made to broadcast MTG's TV3 to Finland via satellite. Broadcasts will commence this autumn. Also, from September 7 the newspaper Metro will be published in Finnish in Helsinki. That paper has been available in English in Helsinki since early summer, for the Finnish presidency of the European Union. For additional information, please contact Anders Nilsson, president, MTG Radio, at +46-70-725 0013, or Hein Espen Hattestad, administrative director, P4, at +47-95-96 25 05. Modern Times Group MTG AB is listed on the Stockholm Stock Exchange's O list (symbol: MTG) and on the Nasdaq National Market in New York (symbol: MTGNY). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/08/26/19990826BIT00590/bit0001.doc http://www.bit.se/bitonline/1999/08/26/19990826BIT00590/bit0002.pdf

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