Q4 2003 - Results for Fouth Quarter and Full Year 2003

Q4 2003 - Results for Fouth Quarter and Full Year 2003 MODERN TIMES GROUP MTG AB FINANCIAL RESULTS FOR THE PERIOD JANUARY - DECEMBER 2003 Stockholm, 10 February 2004 - Modern Times Group MTG AB ("MTG") (Stockholmsbörsen: MTGA, MTGB) today announced its preliminary financial results for the three months and twelve months ending 31 December 2003. FULL YEAR HIGHLIGHTS - NET SALES UP 5% TO SEK 6,311 (6,023) MILLION - NET INCOME INCREASED TO SEK 289 (-67) MILLION, INCLUDING NON-RECURRING ITEMS OF SEK -99 (37) MILLION - EARNINGS PER SHARE INCREASED TO SEK 4.36 (-1.00) FOURTH QUARTER HIGHLIGHTS - NET SALES OF SEK 1,731 (1,730) MILLION - OPERATING INCOME INCREASED TO SEK 249 (66) MILLION - 26,000 INCREASE IN NUMBER OF PREMIUM SUBSCRIBERS TO 439,000 - PAY-TV OPERATING MARGIN OF 23% (21%), INCLUDING SEK 29 MILLION WRITE DOWN OF VIACESS SMART CARDS - 14% INCREASE IN OPERATING INCOME FROM TV3 SCANDINAVIA TO SEK 73 (64) MILLION, INCLUDING PROVISION OF SEK 38 MILLION ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/10/20040318BIT20670/wkr0006.pdf The full report

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MTG (Modern Times Group MTG AB (publ.)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our popular entertainment brands span Content Production, TV, Radio and eSports, and are available around the world. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).

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