BERTRANGE, Luxembourg, March 26, 2003 (PRIMEZONE) -- Metro International S.A. ("Metro") (Nasdaq:MTROa) (Nasdaq:MTROb), the international newspaper group, today announced that it has prolonged its distribution contract with SL, the Stockholm Public Transport Authority, until 2010. The agreement gives Metro the right to distribute its newspaper in the Stockholm commuter transport system. Stockholm's public transport system is used by approximately 600,000 daily commuters.
The contract was signed in 1995 when Metro launched its first newspaper in Stockholm. Metro has since grown to become the largest newspaper in Sweden with 1.1 million daily readers, of which 716,000 are in Stockholm.
Anders Kvarby, CEO Metro Sweden, commented: "Distribution through the public transport system in Stockholm has proved a very efficient way to reach the people of Stockholm. We have enjoyed a successful partnership with SL and are delighted to have extended it until 2010."
Gunnar Schon, CEO of SL, commented: "Everything we do is intended to increase the number of passengers in the SL public transport system. The cooperation with Metro, which has developed positively over many years, provides our passengers with a newspaper that they appreciate and also provides SL with an efficient information channel to communicate with the traveling public. We are looking forward to an even broader and deeper relationship in the years ahead."
PelleTornberg, President and CEO of Metro International, commented: "This agreement is good news both for Metro and for the Swedish newspaper market, which is otherwise controlled by one company. Regardless of metrics used, the Swedish private media company Bonnier controls more than 50% of the daily newspaper market. Bonnier's share of the daily newspaper advertising market is as high as 68%. Metro has been the first newspaper to successfully challenge Bonnier's monopolistic position and we will continue to do so in cooperation with SL."
For further information, please visit www.metro.lu, email info@metro.lu or contact:
Pelle Tornberg, President & CEO, tel: +44 (0) 20 7016 1300
Matthew Hooper, Investor & Press Relations tel: +44 (0) 20 7321 5010
Metro is the world's largest free newspaper, publishing and distributing 25 editions in 16 countries in 14 languages: Stockholm, Prague, Gothenburg, Hungary, the Netherlands, Helsinki, Malmo, Santiago, Philadelphia, Toronto, Rome, Milan, Warsaw, Athens, Montreal, Barcelona, Boston, Madrid, Copenhagen, Aarhus, Paris, Marseille, Lyon, Hong Kong and Seoul.
Metro International S.A. 'A' and 'B' shares are listed on the Stockholmsborsen 'O-List' and on the Nasdaq stock market under the symbols MTROA and MTROB.
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 Metro International S.A, any Metro International S.A. 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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