STOCKHOLM, Sweden, April 15, 2002 (PRIMEZONE) -- Metro International S.A. ("Metro") (Nasdaq:MTROA) (Nasdaq:MTROB), the international newspaper group, today announced the launch of the Metro newspaper in Hong Kong. Copies of the first Chinese language edition of Metro were distributed by hand and from racks this morning in the City's MTR subway, and at key central points in the city. The daily circulation of 300,000 copies will make Metro the third largest daily newspaper in Hong Kong. The newspaper will be in Chinese with an international news section in English, and the Chinese title of the newspaper translates as 'Metropolis Daily'.
Metro was awarded a contract to distribute a new edition of Metro in Hong Kong in November of last year by the MTR Corporation, which operates the City's subway network. 2.3 million passenger's travel on the MTR every day, making it one of the largest subway networks in the world. The newspaper will be distributed each morning, 6 days a week (Monday through Saturday), by hand and from racks in the network's 43 stations, as well as by hand at 50 other central locations mainly focused on the Hong Kong island itself.
Hong Kong is one of the world's major cities with a population of 6.5 million, and is also one of the world's major commercial centres, attracting annual media spend of U.S. $3.5 billion. 37 %, or U.S. $1.3 billion, of this advertising spend is placed in print media. Metro has worked closely with InvestHK in the build-up to the launch and formed a partnership to facilitate the further growth and development of Metro in the province. InvestHK is a Hong Kong Government Department, which is dedicated to helping companies to establish or expand their business operations in Hong Kong.
Pelle Tornberg, President & CEO of Metro International, commented: "Hong Kong is the ideal market for the launch of Metro into Asia and the MTR provides the most efficient means of distribution. The edition will present the standardized Metro blend of fact-based independent reporting of local, regional and international news and feature stories. As always, the distribution is focused on the young professional commuting public."
"The support of InvestHK has been invaluable in terms of providing introductions to the key decision makers in Hong Kong and specialist advice on the local market."
Metro is the world's largest free newspaper, publishing and distributing 23 editions in 15 countries in 13 languages: Stockholm, Prague, Gothenburg, Hungary, the Netherlands, Helsinki, Malmo, Santiago, Philadelphia, Toronto, Rome, Milan, Warsaw, Athens, Montreal, Barcelona, Boston, Madrid, Copenhagen, Paris, Marseille, Lyon and Hong Kong.
Metro International S.A. 'A' and 'B' shares are listed on the NASDAQ National Market and on the Stockholmsborsen O-List under the symbols MTROA and MTROB.
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