METRO PARTNERS WITH TORSTAR IN TORONTO

METRO PARTNERS WITH TORSTAR IN TORONTO Metro International S.A. ("Metro"), the leading international daily newspaper group, today announced its intention to enter into a 50/50 partnership with Torstar Corporation ("Torstar") in Toronto, Canada, to publish 'Metro Today'. The agreement is subject to approval by Revenue Canada and reflects the requirement under Canadian law for international publishers to have local partners. 'Metro Today' will be launched on 1 May 2001 with the daily publication and distribution of 180,000 copies of the newspaper, which is expected to be the second largest by circulation in the Greater Toronto area. The new title will replace the existing 'Metro' and 'Today' newspapers, which are distributed free of charge in the City of Toronto by Metro and Torstar respectively. Toronto is the largest city in Canada, with a population of 4,3 million and annual advertising sales of approximately US$1,325 million. The print publication advertising market in Toronto is approximately US$600 million. Under the agreement, the title of the newspaper will be ´Metro Today´ but, in all other material respects, will maintain the same style, format, model, approach and relatively low number of employees. The funding of all costs relating to production and distribution will be split equally between the partners, who will also share the proceeds generated over time by the business. The editorial team will also have the benefit of access to the newswire services of Torstar's ´The Toronto Star´, the largest daily newspaper in Canada by circulation. Metro's current Managing Director and Publisher, Greg Lutes, will be the new Managing Director and Publisher for ´Metro Today´. Andrew Go, President of Business Ventures at Torstar, will be the initial Chairman. Metro editions are distributed in commuter zones and attract an average daily readership of 6.6 million readers worldwide, and achieve a 23% weekly reach of the population of 60 million in areas where Metro editions are distributed, according to the worldwide readership survey conducted by Gallup in November 2000. Metro editions provide fact-based independent journalism and feature local, regional, national and international news. Metro has already launched a new edition in Canada in 2001, with the introduction of the first French language Metro edition in Montreal at the beginning of this month. Pelle Törnberg, President & CEO of Metro International, commented: "This agreement will further facilitate the roll-out of the Metro concept in Canada. We are required to have local partners in Canada and Torstar is the strongest partner that we could have in Toronto. ´Metro Today´ will combine Metro's international brand and business model with Torstar's well-established operations in Canada. This combination continues Metro's commitment to providing high quality editorial within an efficient operating structure." David Galloway, President & CEO of Torstar Corporation, said: "We are delighted to form a partnership with Metro International. Together, we will be able to develop a successful newspaper in the Toronto market". Metro International was demerged from Modern Times Group MTG AB in August 2000. A and B shares in Metro were distributed to MTG shareholders and are listed on the NASDAQ National Market and the OM Stockholm Exchange O List (symbols: MTROA and MTROB). For further information please visit www.metro.lu, email info@sharedvalue.net or contact: Pelle Törnberg, President & CEO tel: +44 (0) 20 7408 0230 Matthew Hooper, Investor enquiries tel: +44 (0) 20 7321 5010 Bert Willborg, Media enquiries tel: +46 (0) 707 27 70 22 Metro International S.A. publishes and distributes free daily newspapers, comprising 19 editions in 14 countries: Stockholm (Metro and Everyday), Gothenburg (Metro), Malmö (Metro), Helsinki (Metro), Prague (Metro), Budapest (Metro), the Netherlands (Metro), Zurich (Metropol), Santiago (MTG), Rome (Metro), Philadelphia (Metro), Toronto (Metro), Buenos Aires (Publimetro), Milan (Metro), Warsaw (Metropol), Athens (Metrorama), Montreal (Metro) & Barcelona (Metro Directo). ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/13/20010313BIT00780/bit0002.doc http://www.bit.se/bitonline/2001/03/13/20010313BIT00780/bit0002.pdf