STOCKHOLM, Sweden, April 30, 2003 (PRIMEZONE) -- Modern Times Group MTG AB (Stockholm:MTGA) (Nasdaq:MTGNY) (Other OTC:MTGNF), the international media group, today announced the signing of a new SEK 800 million revolving multi-currency credit facility in addition to the groups existing bank facilities. The facility matures on 31 December 2007.
The new facility is for general corporate purposes and continued expansion of the Group.
The facility has been arranged and coordinated by Deutsche Bank, and provided by a group of leading international banks comprising Deutsche Bank, ING Bank, Nordea and Handelsbanken. The Group's liquid funds, including the amount of unutilized credit facilities as at 31 March 2003, but excluding the new facility, totaled SEK 569 million.
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 Matthew Hooper, Investor & Press Enquiries tel: +44 (0) 20 7321 5010
Modern Times Group MTG AB has five business areas: Viasat Broadcasting (free-to-air and pay-TV broadcasting operations in nine countries and teletext operations in four countries), Radio (seven national networks or local stations in five countries), TV-Shop (home shopping and logistics), SDI Media (subtitling and dubbing services), and Modern Studios (content production and distribution).
Modern Times Group MTG AB class A and B shares are listed on the Stockholmsborsen O-list (symbols: MTGA and MTGB) and ADRs are listed on the Nasdaq National Market (symbol: MTGNY).
This press release contains certain "forward-looking statements" with respect to our expectations and plans, strategy, management's objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that our actual results in the future could differ materially from those anticipated in forward- looking statements depending on various important factors. Please refer to the documents we have filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including our most recent annual report on Form 20-F, for a discussion of certain of these factors.
All forward-looking statements in this press release are based on information available to us on the date hereof. All written or oral forward-looking statements attributable to Modern Times Group, any Modern Times Group members or persons acting on our behalf are expressly qualified in their entirety by the factors referred to above. We do not intend to update these forward-looking statements.
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