PELLE TÖRNBERG CHOOSES METRO INTERNATIONAL

PELLE TÖRNBERG CHOOSES METRO INTERNATIONAL Pelle Törnberg said in a statement today: "Growth in Metro International is so strong that it's become impossible for me to be President of two listed companies. At this point, I'm forced to make a choice, and I'm choosing Metro International. With Metro International, I'll be able to work in countries and continents in which MTG does not operate. Also, the continuity in MTG's management will guarantee its continued success." "It's difficult to choose between two very interesting jobs," says Törnberg. "But this will be somewhat easier because the two companies have the same chairman." With Pelle Törnberg as President of Metro International, the board of MTG in a meeting today appointed Hans-Holger Albrecht to new President of MTG. His new position will commence on October 1, 2000. Pelle Törnberg will also be nominated to the board of MTG. The change in management announced today is preparation in connection with the distribution of Metro shares to MTG shareholders. Hans-Holger Albrecht was appointed Chief Operating Officer of MTG in May earlier this year. The board expressed its appreciation to Pelle Törnberg for his many years of successful efforts in developing MTG. Törnberg established his cooperation with Kinnevik's media ventures in 1989 when he was president and partner of Strix. Since that time, he has been behind many of the media undertakings that today constitute MTG and Metro. MTG became a publicly-listed company in September 1977. Since that time, it has experienced very strong growth. Metro will be listed as a separate company later this week. Hans-Holger Albrecht is currently COO for MTG and head of business area Broadcasting. Albrecht began at MTG in 1997. Previously, he was with CLT/Ufa and Daimler Benz. Modern Times Group MTG AB is listed on the OM Stockholm Exchange's O List under the symbol MTG and on Nasdaq in New York under the symbol MTGNY. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/08/14/20000814BIT00870/bit0001.doc http://www.bit.se/bitonline/2000/08/14/20000814BIT00870/bit0002.pdf

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