Exhibit 4.7

EXECUTION COPY

SUPPLEMENTAL AGREEMENT

Dated
30 April 2003

relating
to

SEK
800,000,000 Multi-currency Revolving Credit Facilities

Arranged
by Deutsche Bank AG London

and to

SEK
900,000,000 Multi-currency Revolving Credit Facilities

Arranged
by Deutsche Bank AG London

and

Nordea Bank Sweden AB (publ)

each provided to

Modern Times Group MTG AB (publ)

Agent

Deutsche Bank Luxembourg S.A.

ALLEN & OVERY London

---

CONTENTS

|            |  |                                |  | Page
|----------- |  | ------------------------------ |  | ----
|Clause      |  |                               
|1.          |  | Interpretation                 |  | 1   
|2.          |  | Amendments                     |  | 2   
|3.          |  | Representations                |  | 2   
|4.          |  | Fees and Expenses              |  | 4   
|5.          |  | Amendment Date                 |  | 4   
|6.          |  | Miscellaneous                  |  | 5   
|7.          |  | Governing law and Jurisdiction |  | 5   
|Schedules   |  |                               
|1           |  | Restated Agreement             |  | 6   
|2           |  | Conditions Precedent Documents |  | 98  
|Signatories |  | 101                           

---

THIS DEEDis dated 30 April 2003 and is madeBETWEEN:

BACKGROUND

NOW THIS DEED WITNESSETHas follows:

1.     INTERPRETATION

1.1   Definitions

1.2   Interpretation of Existing Agreement

1

---



1.3   Construction

2.     AMENDMENTS

3.     REPRESENTATIONS

3.1   Representations and warranties

3.2   Existing Agreement

3.3   Powers and authority

3.4   Legal validity

3.5   Non-conflict

3.6   Authorisations

2

---

3.7   No filing

3.8   Consents obtained

3.9   Choice of law

3.10 No immunity

3.11 Principal Agreements

3.12 Major Licences and Necessary Authorisations

3.13 No withholding Taxes

3.14 Relevant Laws

3

---

3.15 No Default

3.16 Information Memorandum

3.17 Environmental Matters



3.18 Repetition

4.     FEES AND EXPENSES

4.1   Waiver Fee

4.2   Expenses

4.3   Stamp and other duties

5.     AMENDMENT DATE

4

---

6.     MISCELLANEOUS

6.1   Finance Document

6.2   Continuation of Existing Agreement

6.3   Guarantees

6.4   Counterparts

6.5   Contracts (Rights of Third Parties) Act 1999

6.6   Effect as a Deed

7.     GOVERNING LAW AND JURISDICTION

IN WITNESSwhereof the parties hereto have caused this Deed to be duly executed and delivered as a deed the day and year first above written.

5

---



SCHEDULE 1

RESTATED AGREEMENT

AGREEMENTrelating to

SEK 800,000,000 Multi-currency Revolving Credit Facilities

Arranged
by

DEUTSCHE BANK AG

LONDON

and to  SEK 900,000,000 Multi-currency Revolving Credit Facilities

Arranged
by

DEUTSCHE BANK AG  LONDON  and  NORDEA BANK SWEDEN AB (publ)

for

MODERN TIMES GROUP MTG AB (publ)

Agent

DEUTSCHE BANK LUXEMBOURG S.A.

ALLEN & OVERY London

6

---

CONTENTS

|Clause |  | Heading                                |  | Page                                   
|------ |  | -------------------------------------- |  | ---------------------------------------
|1      |  | Purpose and definitions                |  | 12                                     
|       |  | 1.1                                    |  | Purpose                                
|       |  | 1.2                                    |  | Definitions                            
|       |  | 1.3                                    |  | Headings                               
|       |  | 1.4                                    |  | Construction of certain terms          
|       |  | 1.5                                    |  | Majority Banks                         
|2      |  | The Facilities                         |  | 26                                     
|       |  | 2.1                                    |  | Amounts                                
|       |  | 2.2                                    |  | Obligations several                    
|       |  | 2.3                                    |  | Interests several                      
|3      |  | Conditions                             |  | 26                                     
|       |  | 3.1                                    |  | Documents and evidence                 
|       |  | 3.2                                    |  | General conditions precedent           
|       |  | 3.3                                    |  | Waiver of conditions precedent         
|       |  | 3.4                                    |  | Notification                           
|4      |  | Utilisations                           |  | 27                                     
|       |  | 4.1                                    |  | Tranche A, Tranche B and Tranche C     
|       |  | 4.2                                    |  | Maximum Tranche A Outstandings         
|       |  | 4.3                                    |  | Maximum Tranche B Outstandings         
|       |  | 4.4                                    |  | Maximum Tranche C Outstandings         
|       |  | 4.5                                    |  | Advances                               
|       |  | 4.6                                    |  | Amount and Term                        
|       |  | 4.7                                    |  | Selection of currencies                
|       |  | 4.8                                    |  | Limit on currencies; non-availability  
|       |  | 4.9                                    |  | Currency amounts                       
|       |  | 4.10                                   |  | Notification to Banks                  
|       |  | 4.11                                   |  | Application of proceeds                
|5      |  | Bank Guarantees                        |  | 28                                     
|       |  | 5.1                                    |  | Receipt of Utilisation Notices         
|       |  | 5.2                                    |  | Completion of Utilisation Notices      
|       |  | 5.3                                    |  | Notification of Banks                  
|       |  | 5.4                                    |  | Authority of Agent                     
|       |  | 5.5                                    |  | Issue of Bank Guarantees               
|       |  | 5.6                                    |  | Notification of the Borrower           
|       |  | 5.7                                    |  | Extension or renewal of Bank Guarantees
|       |  | 5.8                                    |  | Notification of extensions/renewals    
|6      |  | Interest and Bank Guarantee Commission |  | 29                                     
|       |  | 6.1                                    |  | Normal interest rate                   
|       |  | 6.2                                    |  | Margin                                 
|       |  | 6.3                                    |  | Interest for late payment              
|       |  | 6.4                                    |  | Notification of interest rate          
|       |  | 6.5                                    |  | Reference Bank quotations              
|       |  | 6.6                                    |  | Market disruption; non-availability    
|       |  | 6.7                                    |  | Bank Guarantee Commission              
|       |  |                                        |  |                                        

7

---

|7 |  | Repayment, cancellation and prepayment        |  | 31                                                   
|- |  | --------------------------------------------- |  | -----------------------------------------------------
|  |  | 7.1                                           |  | Repayment of Tranche A Outstandings                  
|  |  | 7.2                                           |  | Repayment of Tranche B Outstandings                  
|  |  | 7.3                                           |  | Reduction of Tranche B Commitments                   
|  |  | 7.4                                           |  | Repayment of Tranche C Outstandings                  
|  |  | 7.5                                           |  | Reduction of Tranche C Commitments                   
|  |  | 7.6                                           |  | Currency rollovers                                   
|  |  | 7.7                                           |  | Termination Date                                     
|  |  | 7.8                                           |  | Voluntary cancellation of Commitments                
|  |  | 7.9                                           |  | Termination of Tranche A Commitments                 
|  |  | 7.10                                          |  | Termination of Tranche B Commitments                 
|  |  | 7.11                                          |  | Termination of Tranche C Commitments                 
|  |  | 7.12                                          |  | Mandatory prepayments                                
|  |  | 7.13                                          |  | Voluntary prepayment                                 
|  |  | 7.14                                          |  | Amounts payable on prepayment                        
|  |  | 7.15                                          |  | Notice of prepayment                                 
|  |  | 7.16                                          |  | No other prepayments                                 
|8 |  | Fees and expenses                             |  | 34                                                   
|  |  | 8.1                                           |  | Fees                                                 
|  |  | 8.2                                           |  | Expenses                                             
|  |  | 8.3                                           |  | Value Added Tax                                      
|  |  | 8.4                                           |  | Stamp and other duties                               
|9 |  | Payments and Taxes; accounts and calculations |  | 35                                                   
|  |  | 9.1                                           |  | No set-off or counterclaim; distribution to the Banks
|  |  | 9.2                                           |  | Payments by the Banks                                
|  |  | 9.3                                           |  | Non-Banking Days                                     
|  |  | 9.4                                           |  | Agent may assume receipt                             
|  |  | 9.5                                           |  | Grossing-up for Taxes                                
|  |  | 9.6                                           |  | Qualifying Banks                                     
|  |  | 9.7                                           |  | Claw-back of Tax benefit                             
|  |  | 9.8                                           |  | Certification to secure a Tax benefit                
|  |  | 9.9                                           |  | Bank accounts                                        
|  |  | 9.10                                          |  | Partial payments                                     
|  |  | 9.11                                          |  | Calculations                                         
|  |  | 9.12                                          |  | Certificates conclusive                              
|  |  | 9.13                                          |  | Effect of monetary union                             
|  |  |                                               |  |                                                      

8

---

|10 |  | Guarantee                                    |  | 39                                                           
|-- |  | -------------------------------------------- |  | -------------------------------------------------------------
|   |  | 10.1                                         |  | Covenant to pay                                              
|   |  | 10.2                                         |  | Guarantors as principal debtors; indemnity                   
|   |  | 10.3                                         |  | No security taken by Guarantors                              
|   |  | 10.4                                         |  | Interest                                                     
|   |  | 10.5                                         |  | Continuing security and other matters                        
|   |  | 10.6                                         |  | New accounts                                                 
|   |  | 10.7                                         |  | Liability unconditional                                      
|   |  | 10.8                                         |  | Collateral Instruments                                       
|   |  | 10.9                                         |  | Waiver of Guarantor's rights                                 
|   |  | 10.10                                        |  | Suspense accounts                                            
|   |  | 10.11                                        |  | Settlements conditional                                      
|   |  | 10.12                                        |  | Guarantors to deliver up certain property                    
|   |  | 10.13                                        |  | Retention of this guarantee                                  
|   |  | 10.14                                        |  | Changes in constitution or reorganisations of Finance Parties
|   |  | 10.15                                        |  | Other guarantors                                             
|   |  | 10.16                                        |  | Acceding Guarantors                                          
|   |  | 10.17                                        |  | Release of Subsidiaries                                      
|   |  | 10.18                                        |  | Release of Tidnings AB Metro                                 
|   |  | 10.19                                        |  | Limitation of liability of Guarantors                        
|   |  | 10.20                                        |  | U.S. Guarantors                                              
|11 |  | Representations and warranties               |  | 43                                                           
|   |  | 11.1                                         |  | Repeated representations and warranties                      
|   |  | 11.2                                         |  | Further representations and warranties                       
|   |  | 11.3                                         |  | Repetition                                                   
|   |  | 11.4                                         |  | Acceding Guarantors                                          
|12 |  | Undertakings                                 |  | 47                                                           
|   |  | 12.1                                         |  | Positive covenants                                           
|   |  | 12.2                                         |  | Negative covenants                                           
|   |  | 12.3                                         |  | United States laws                                           
|13 |  | Financial covenants                          |  | 54                                                           
|   |  | 13.1                                         |  | Financial covenants                                          
|   |  | 13.2                                         |  | Auditors' certificate                                        
|   |  | 13.3                                         |  | Cure provisions                                              
|14 |  | Events of Default                            |  | 56                                                           
|   |  | 14.1                                         |  | Events of default                                            
|   |  | 14.2                                         |  | Acceleration                                                 
|   |  | 14.3                                         |  | Demand basis                                                 
|15 |  | Indemnities                                  |  | 60                                                           
|   |  | 15.1                                         |  | Miscellaneous indemnities                                    
|   |  | 15.2                                         |  | Currency of account; currency indemnity                      
|   |  | 15.3                                         |  | Environmental indemnity                                      
|   |  | 15.4                                         |  | ESCB reserve requirements                                    
|16 |  | Unlawfulness and increased costs; mitigation |  | 61                                                           
|   |  | 16.1                                         |  | Unlawfulness                                                 
|   |  | 16.2                                         |  | Increased costs                                              
|   |  | 16.3                                         |  | Exceptions                                                   
|   |  | 16.4                                         |  | Mitigation                                                   
|   |  |                                              |  |                                                              

9

---

|17 |  | Set-off and pro rata payments            |  | 62                                                                                 
|-- |  | ---------------------------------------- |  | -----------------------------------------------------------------------------------
|   |  | 17.1                                     |  | Set-off                                                                            
|   |  | 17.2                                     |  | Pro rata payments                                                                  
|   |  | 17.3                                     |  | No release                                                                         
|   |  | 17.4                                     |  | No charge                                                                          
|18 |  | Assignment, transfer and funding offices |  | 63                                                                                 
|   |  | 18.1                                     |  | Benefit and burden                                                                 
|   |  | 18.2                                     |  | No assignment by Obligors                                                          
|   |  | 18.3                                     |  | Transfer                                                                           
|   |  | 18.4                                     |  | Reliance on Transfer Certificate                                                   
|   |  | 18.5                                     |  | Authorisation of Agent                                                             
|   |  | 18.6                                     |  | Construction of certain references                                                 
|   |  | 18.7                                     |  | Lending offices                                                                    
|   |  | 18.8                                     |  | Disclosure of information                                                          
|   |  | 18.9                                     |  | Confidentiality undertaking                                                        
|   |  | 18.10                                    |  | Limitation on certain obligations                                                  
|   |  | 18.11                                    |  | Restrictions on transfers                                                          
|19 |  | Arrangers, Agent and Reference Banks     |  | 65                                                                                 
|   |  | 19.1                                     |  | Appointment of Agent                                                               
|   |  | 19.2                                     |  | Agent's actions                                                                    
|   |  | 19.3                                     |  | Agent's duties                                                                     
|   |  | 19.4                                     |  | Agent's rights                                                                     
|   |  | 19.5                                     |  | No liability of Arrangers and Agent                                                
|   |  | 19.6                                     |  | Non-reliance on Arrangers or Agent                                                 
|   |  | 19.7                                     |  | No Responsibility on Arrangers or Agent for any Obligor's performance              
|   |  | 19.8                                     |  | Reliance on documents and professional advice                                      
|   |  | 19.9                                     |  | Other dealings                                                                     
|   |  | 19.10                                    |  | Rights of Agent as Bank; no partnership                                            
|   |  | 19.11                                    |  | Amendments; waivers                                                                
|   |  | 19.12                                    |  | Reimbursement and indemnity by Banks                                               
|   |  | 19.13                                    |  | Retirement of Agent                                                                
|   |  | 19.14                                    |  | Change of Reference Banks                                                          
|   |  | 19.15                                    |  | Powers and duties of the Agent as agent in relation to the Subordination Provisions
|   |  | 19.16                                    |  | All enforcement action through the Agent                                           
|20 |  | Notices and other matters                |  | 70                                                                                 
|   |  | 20.1                                     |  | Notices                                                                            
|   |  | 20.2                                     |  | Electronic communication                                                           
|   |  | 20.3                                     |  | Use of websites                                                                    
|   |  | 20.4                                     |  | Notices through the Agent                                                          
|   |  | 20.5                                     |  | No implied waivers, remedies cumulative                                            
|   |  | 20.6                                     |  | English translations                                                               
|   |  | 20.7                                     |  | Counterparts                                                                       
|   |  | 20.8                                     |  | Obligors                                                                           
|21 |  | Governing law and jurisdiction           |  | 73                                                                                 
|   |  | 21.1                                     |  | Law                                                                                
|   |  | 21.2                                     |  | Submission to jurisdiction                                                         
|   |  | 21.3                                     |  | Agent for service of process                                                       
|   |  |                                          |  |                                                                                    

10

---

|Schedules |  |                                                                                       
|--------- |  | --------------------------------------------------------------------------------------
|1         |  | Part AThe Original Guarantors                                                        
|          |  | Part BThe Banks and their Commitments                                                
|2         |  | Form of Utilisation Notice                                                            
|3         |  | [Not restated]                                                                        
|4         |  | Calculation of Additional Cost                                                        
|5         |  | Form of Transfer Certificate                                                          
|6         |  | Part ACompliance Certificate to be delivered by an Authorised Officer of the Borrower
|          |  | Part BCompliance Certificate to be delivered by the auditors of the Group            
|7         |  | Part APrincipal Agreements                                                           
|          |  | Part BMajor Licences                                                                 
|8         |  | Part ADeed of Guarantor Accession                                                    
|          |  | Part BDocuments and evidence to be delivered by Acceding Guarantors                  
|9         |  | Form of Bank Guarantee                                                                
|10        |  | Counter Indemnity                                                                     
|12        |  | Broadcasting Division                                                                 
|13        |  | Permitted Loans                                                                       

11

---

THIS AGREEMENT,originally dated 22 April 1999, was amended and restated on 8 November 2000 and on 30 April 2003 and is made BETWEEN:

IT IS AGREEDas follows:

1      Purpose and definitions

1.1   Purpose

12

---



13

---

14

---



15

---



16

---

17

---



18

---



19

---



20

---



21

---



22

---

23

---

24

---



25

---

2      The Facilities

3      Conditions

26

---

4      Utilisations

27

---



5      Bank Guarantees

28

---

6      Interest and Bank Guarantee Commission

29

---

30

---



7      Repayment, cancellation and prepayment

(1)
Date

(2)
Swedish Kronor Amount
(SEK '000,000)30 June 2000

55031 December 2000

50030 June 2001

45031 December 2001

40030 June 2002

35031 December 2002

30030 June 2003

22531 December 2003

15030 June 2004

0


31

---

(1)
Date

(2)
Swedish Kronor Amount
(SEK '000,000)30 June 2001

80031 December 2001

70030 June 2002

57531 December 2002

45030 June 2003

32531 December 2003

20030 June 2004

0


32

---

33

---

8      Fees and expenses

34

---



9      Payments and Taxes; accounts and calculations

35

---



36

---















37

---











38

---





10    Guarantee











39

---











40

---

















41

---









42

---



11    Representations and warranties







43

---













44

---















45

---











46

---

12    Undertakings









47

---











48

---







49

---















50

---















51

---









52

---











53

---



13    Financial covenants





(1)
Quarter Day

(2)
Ratioeach Quarter Day until and including
the Quarter Day falling on 31 December 2000

5.0:1the Quarter Day falling on 31
March 2001 and each Quarter Day thereafter

3.0:1






(1)
Quarter Day

(2)
Ratioeach Quarter Day falling in 2003

5.0:1each Quarter Day falling in 2004

4.0:1






(1)
Quarter Day

(2)
Ratiothe Quarter Day falling on 31 December 2002

2.0:1the Quarter Day falling on 31 March 2003

2.0:1the Quarter Day falling on 30 June 2003

2.5:1


54

---









55

---



14    Events of Default







56

---

















57

---















58

---















59

---

15    Indemnities









60

---



16    Unlawfulness and increased costs; mitigation







61

---









17    Set-off and pro rata payments



62

---





18    Assignment, transfer and funding offices



63

---













64

---











19    Arrangers, Agent and Reference Banks





65

---







66

---











67

---







68

---











69

---





20    Notices and other matters





70

---







71

---











72

---







21    Governing law and jurisdiction







IN WITNESSwhereof the parties to this Agreement have caused this Agreement to be duly executed on the date first above written.

73

---



Schedule 1

Part AThe Original Guarantors

|Name                                                                                                  |  | Registration Number
|----------------------------------------------------------------------------------------------------- |  | -------------------
|MTG Broadcasting SA Société anonyme11, boulevard Royal
L-2449 Luxembourg
R.C.S. Luxembourg B.73.791   |  | 73.791             
|MTG Broadcasting Holding AB                                                                           |  | 556580-7806        
|MTG Broadcasting AB                                                                                   |  | 556353-2687        
|ViaSat AB                                                                                             |  | 556304-7041        
|ViaSat Broadcasting UK Limited                                                                        |  | 02228654           
|TV1000 AB                                                                                             |  | 556133-5521        
|MTG Publishing SA Société anonyme11, boulevard Royal
L-2449 Luxembourg
R.C.S. Luxembourg B.73.794     |  | 73.794             
|MTG Publishing Holding AB                                                                             |  | 556580-7798        
|MTG Publishing AB                                                                                     |  | 556457-2229        
|MTG Holding AB                                                                                        |  | 556057-9558        
|Modern Times Group MTG A/S (Denmark)                                                                  |  | 13398275           
|ViaSat A/S (Denmark)                                                                                  |  | 10300207           
|3+ Television Ltd                                                                                     |  | 2823600            
|Modern Entertainment Ltd                                                                              |  | 13-3789106         
|Strix Television AB                                                                                   |  | 556345-5624        
|TV 1000 Norge AS                                                                                      |  | 952580108          
|TV6 Broadcasting Group Ltd                                                                            |  | 3072386            
|TV6 Sverige AB                                                                                        |  | 556098-4709        
|MTG Media Services SA Société anonyme11, boulevard Royal
L-2449 Luxembourg
R.C.S. Luxembourg B.73.793 |  | 73.793             
|MTG Media Services Holding AB                                                                         |  | 556580-7848        
|MTG Modern Studios AB                                                                                 |  | 556264-3261        
|TV3 Broadcasting Group Ltd                                                                            |  | 2026891            
|TV-Shop Europe AB                                                                                     |  | 556497-0019        
|Viasat Satellite Services AB                                                                          |  | 556278-7910        
|MTG Internet Retailing AB                                                                             |  | 556406-1702        
|MTG Radio AB                                                                                          |  | 556365-3335        
|Sonet Film Aktiebolag                                                                                 |  | 556103-7283        
|Viasat AS (Norway)                                                                                    |  | 951801879          
|Modern Times Group MTG AS (Norway)                                                                    |  | 912213714          
|Finans Vision AB                                                                                      |  | 556301-5014        

74

---

Part BThe Banks and their Commitments

(As
at 28th April 2003)

|Name address, e-mail and fax number                                                                                                                                                      |  | Commitment (SEK)
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------
|
|Svenska Handelsbanken AB (publ)
pera03@handelsbanken.se
Fax number: + 46(8)545 21363                                                                                                     |  | 50,000,000      
|Deutsche Bank AG London
Winchester House
1 Great Winchester Street
London EC2N 2DB
henrik.johnsson@db.com
Fax number: +44 (0)20 7545 1239                                                |  | 32,500,000      
|Dresdner Bank Luxembourg S.A.
wolfgang.hormesch@dresdner-bank.lu
Fax number: + 352 4760 884                                                                                              |  | 32,500,000      
|Nordea Bank Sweden AB (publ)
105 71 Stockholm
Axel.Berning@nordea.com
Fax number: +46(8) 614 7587                                                                                        |  | 45,000,000      
|Den Norske Bank ASA
anders.grevstad@dnb.no
Fax number: + 47 22 94 9300                                                                                                                   |  | 15,000,000      
|Banque et Caisse d'Epargne de l'Etat, Luxembourg
srv.cri@bcee.lu
Fax number: + 352 40 15 4284                                                                                            |  | 12,500,000      
|WestLB AG
bernd_kummerow@westlb.de
Mrs Elizabeth Schweizer-Smith
Tel number: + 49 (211) 82674474
Fax number: + 49 (211) 8266303
Fax number: + 49 (211) 8264075                           |  | 12,500,000      
|ING Bank N.V.
CBSA
Bijlmerplein 888, 1102 MG Amsterdam
P.O. Box 1800, 1000 BV Amsterdam
Location Code: HE 03.03
The Netherlands
annelies.hartog@ingbank.com
Fax number: + 31 20 56 35239 |  | 0               
|TOTAL                                                                                                                                                                                    |  | 200,000,000     

75

---



Schedule 2Form of Utilisation Notice

|To: |  | Deutsche Bank Luxembourg S.A.
2, Boulevard Konrad Adenauer
L-1115 Luxembourg |  |         
|--- |  | ---------------------------------------------------------------------------- |  | --------
|    |  | Attention: International Loans and Agency Services                           |  |   20  

SEK 1,700,000,000 Multi-currency Revolving Credit Facilities Agreement dated 22 April 1999 (as from time to time amended, varied, extended,
restated, refinanced or replaced, the "Agreement")

We
refer to the Agreement and hereby give you notice that we wish to [draw down a Tranche [A/B/C] Advance/have a Bank Guarantee
issued] on 20        with a [Term/tenor] of [        ] months.

The
[Advance/Bank Guarantee] shall be denominated in [Swedish Kronor] [name of Optional Currency]. [In
the case of the first Advance under the Tranche C Facility the amount of the Advance is SEK [please specify amount payable to Invik & Co. AB under the
Invik Loan.]

The
amount of the [Advance/Bank Guarantee] is [SEK][name of currency]
[    ]].

[The
funds should be credited to [in the case of the first Advance under the Tranche C Facility [Nordea Bank Sweden AB (publ) account number
3201 77 05705]] [name and number of account] with [details of bank in [principal financial centre for Swedish Kronor or relevant
Optional Currency]].

[The
Beneficiary is [        ].] [Attached hereto are details of the documentation and other
instruments evidencing the guaranteed obligation.]

[Attached
is the form of Bank Guarantee required by the Beneficiary.]

[The
Utilisation is required for the following purposes: [    ].]

We
confirm that:



Words
and expressions defined in the Agreement shall have the same meanings where used in this notice.

For
and on behalf of Modern Times Group MTG AB (publ)

76

---



Schedule 3[Not restated]

77

---



Schedule 4Calculation of Additional Cost



78

---





Schedule 5Form of Transfer Certificate

Banks are advised not to employ Transfer Certificates without first ensuring that the transaction complies with all applicable laws and regulations, including the Financial
Services Act 1986 and regulations made thereunder.

|To: | Deutsche Bank Luxembourg S.A.
2, Boulevard Konrad Adenauer L-1115 Luxembourg
on its own behalf, as Agent for the Banks and on behalf of the Arrangers, each Obligor and each other party to the Finance Documents.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    | Attention: Credit Administration Department                                                                                                                                                                       

Transfer
Certificate

This
Transfer Certificate relates to:

Terms
defined in the Agreement shall have the same meaning in this Transfer Certificate.

79

---



AS WITNESSthe hands of the authorised signatories of the parties hereto on the date appearing below.

80

---



The Schedule

|Amount of
outstanding
Advances and
Currency |  | Maturity Dates |  | Portion transferred
|------------------------------------------- |  | -------------- |  | -------------------
|Tranche A
[                            ]    |  |                |  |                    
|Tranche B
[                            ]    |  |                |  |                    
|Tranche C
[                            ]    |  |                |  |                    

Relevant
Percentage of Bank Guarantees

|Relevant Percentage |  | Undrawn Face Amount |  | Tenor
|------------------- |  | ------------------- |  | -----

81

---

|Swedish Kronor
Amount of
Commitment
SEK                                                                                             |  |  |  | Portion transferred
SEK
|----------------------------------------------------------------------------------------------------------------------------------- |  |  |  | -----------------------
|                                                                                                                                    |  |  |  |                        
|Tranche A: [                              ]
Tranche B: [                              ]
Tranche C: [                              ] |  | 

82

---

Administrative
Details of Transferee

|Funding office:       |  |             
|--------------------- |  | ------------
|Account for payments: |  |             
|Telephone:            |  |             
|Telefax:              |  |             
|Attention:            |  |             
|                      |  |             
|[Existing Bank]       |  | [Transferee]
|By:
Date:             |  | By:
Date:   
|The Agent
By:         |  |             

on
its own behalf
and on behalf of the Borrower and the other parties to the Agreement

Date:

83

---



Schedule 6

Part ACompliance
Certificate to be delivered by an Authorised Officer of the Borrower

|To:        |  | Deutsche Bank Luxembourg S.A.
2, Boulevard Konrad Adenauer
L-1115 Luxembourg |  |       
|---------- |  | ---------------------------------------------------------------------------- |  | ------
|Attention: |  | International Loans and Agency Services                                      |  | [Date]





Dear
Sirs,

SEK 1,700,000,000 Multi-Currency Revolving Credit Facilities Agreement dated 22 April 1999 (as from time to time amended, varied, extended, restated, refinanced or
replaced the "Agreement")

We
refer to the Agreement and deliver this Certificate in respect of the Fiscal Quarter ended[specify Quarter Day]pursuant to
clause 12.1(i)(ii) thereof. Terms defined in the Agreement shall have the same meaning when used in this Certificate.

We
confirm that based on the Quarterly Management Accounts delivered to the Agent pursuant to clause 12.1(g) of the Agreement in respect of the Fiscal Quarter of the Group ended
[    ]:

Based
on the above, we confirm that on[specify Quarter Day]:

Accordingly,
we confirm that [save as disclosed in this certificate] on[Specify Quarter Day]the
Borrower was in compliance with those covenants contained in clause 13.1(a) to (d) inclusive of the Agreement which were applicable as at such date.

We1
further confirm that, based on the financial statements delivered to the Agent pursuant to clause 12.1(f) of the Agreement in respect of the Fiscal Year ended
[    ]:

84

---

Accordingly,
we confirm that [save as disclosed in this certificate] on[Specify Quarter Day]none of
the circumstances described in clauses 10.16(a)(i), (ii) or (iii) existed or continued to subsist.

For
and on behalf of
Modern Times Group MTG AB (publ)

---

Authorised Officer

---

85

---

Part BCompliance Certificate to be delivered by the auditors of the Group

Deutsche
Bank Luxembourg S.A.
2, Boulevard Konrad Adenauer
L-1115 Luxembourg

Attention:
International Loans and Agency Services

Modern
Times Group MTG AB (publ)
Skeppsbron 18,
Box 2094
S-103 13
Stockholm
Sweden

Attention:
Chief Financial Officer

[Date]

Dear
Sirs

Modern Times Group MTG AB (publ) (the "Borrower")
SEK 1,700,000,000 Multi-Currency Revolving Credit Facilities Agreement dated 22 April 1999 (as from time to time amended, varied, extended, restated, refinanced or replaced, the "Agreement")

We refer to the Agreement and deliver this certificate in respect of the Fiscal Year ended [last day of Fiscal
Year] pursuant to clause 12.1(i)(ii)(B) thereof. Terms defined in the Agreement shall have the same meanings when used in this certificate.

We
have audited the statutory financial statements of [the Borrower/ the Broadcasting Division and the consolidated financial statements of the
Group] for the Fiscal Year ended [last day of Fiscal Year] in accordance with generally
accepted accounting standards in Sweden. Our audit report has been provided to the shareholders and/or the [supervisory board].

We
have been supplied with the Compliance Certificate required pursuant to clause 12.1(i)(ii)(A) of the Agreement in respect of the Fiscal Quarter ended
[Quarter Day, being the last day of the Fiscal Year](the"Compliance
Certificate"), a copy of which is attached.

We
have reviewed the calculations of the financial ratios and other financial information set out in the Compliance Certificate. Our review consisted of:

Based
on our review, we report that the financial ratios set out in the Compliance Certificate have been correctly calculated and the figures used in those calculations and other financial information
set out in the Compliance Certificate has been correctly extracted from the underlying books and records of the Group. We also report that none of the circumstances described in
clause 10.16(a)(i), (ii) or (iii) exists or continues to subsist.

Yours
faithfully,

[name of Auditors]

86

---

Schedule 7

Part APrincipal Agreements

Part BMajor
Licences

87

---



Schedule 8Part ADeed of Guarantor Accession

|To:   |  | Deutsche Bank Luxembourg S.A. as Agent                  
|----- |  | --------------------------------------------------------
|From: |  | [Acceding Guarantor]and Modern Times Group MTG AB (publ)
|Date: |  | [            ]                                          

SEK 1,700,000,000 Multi Currency Revolving Credit Facility Agreement dated 22 April 1999 (as from time to time amended, varied, extended, restated, refinanced or
replaced the "First Facilities Agreement")

SEK 800,000,000 Multi Currency Revolving Credit Facility Agreement dated [    ] 2003 (as from time to time amended, varied, extended,
restated, refinanced or replaced the "Second Facility Agreement")

An Intercreditor Agreement dated [    ] 2003 in respect of the First Facilities Agreement and the Second Facility Agreement (as from time to
time amended, varied, extended, restated, refinanced or replaced the "Intercreditor Agreement")

We
refer to clause 10.16 of the First Facilities Agreement and clause 11.3 of the Intercreditor Agreement. Words and expressions defined in the First Facilities Agreement have the same
meanings when used in this Deed.

[Name of Acceding Guarantor]of[address](the "Acceding Guarantor") agrees:

The
address for notices of the Acceding Guarantor for the purposes of clause 20.1 of the First Facilities Agreement and clause 12 of the Intercreditor Agreement is:

[                                    ]

This
Deed is intended to be executed as a deed and is governed by English law. Clause 21.2 of the First Facilities Agreement is incorporated in this Deed as if set out in this Deed, mutatis
mutandis.

|[NEW GUARANTOR]                                              |  | MODERN TIMES GROUP MTG AB (publ)                   
|------------------------------------------------------------ |  | ---------------------------------------------------
|Authorised Signatory
[Appropriate execution clause]          |  | Authorised Signatory
[Appropriate execution clause]
|By:                                                          |  | By:                                                
|DEUTSCHE BANK LUXEMBOURG S.A. [Appropriate execution clause] |  |                                                    
|By:                                                          |  |                                                    

88

---

Part BDocuments and evidence to be delivered by Acceding Guarantors

89

---



Schedule 9

Form
of Bank Guarantee

Dear
Sirs



90

---



IN WITNESSwhereof this Guarantee is entered into on [                        ],
200  .

|Guarantors                                                       |  | Percentage Liability
|---------------------------------------------------------------- |  | --------------------
|[                        ]]                                      |  | [      ] per cent.  
|DEUTSCHE BANK LUXEMBOURG S.A.                                    |  |                     
|for and on behalf of the Guarantors                              |  |                     
|By:                                                              |  |                     
|AGREEDand accepted by the Beneficiary
[                        ] |  |                     
|By:                                                              |  |                     
|Date: [                        ]                                 |  |                     

91

---



The Schedule    Certificate of Demand

Dear
Sirs

Guarantee dated [                        ]

We refer to the facility agreement dated [                        ] between ourselves and Modern Times Group MTG
AB (publ) (the "Borrower") in relation to which you have issued the above Guarantee.

The
Borrower has failed to pay an amount due under the facility agreement, the details in relation to which are set out below.

We
hereby demand payment by you of the above unpaid amount under the Guarantee.

By:

[Beneficiary]

Date:

92

---



Schedule 10

Counter
Indemnity



93

---





94

---



Schedule 11

[not restated]

95

---



Schedule 12

Broadcasting
Division

|NAME OF COMPANY                         |  |                 
|--------------------------------------- |  | ----------------
|MTG Broadcasting AB (Sweden)            |  | 556353-2687     
|TV6 I Sverige AB (Sweden)               |  | 556098-4709     
|Z-TV AB (Sweden)                        |  | 556022-0831     
|Viasat AB (Sweden)                      |  | 556304-7041     
|MTG Broadc Center Sth AB (Sweden)       |  | 556493-2340     
|Strix Nyheter AB (Sweden)               |  | 556513-5554     
|Viasat AS (Estonia)                     |  | 10308880        
|Television AB TV 8 (Sweden)             |  | 556507-2401     
|TV3 Lithuania (Lithuania)               |  | 2139302         
|TV3 AS (Estonia)                        |  | 10014747        
|TV3 Latvia (Latvia)                     |  | 0.10306588      
|Viasat Hungaria Rt. (Hungary)           |  | Cg. 01-10-044442
|Viasat Broadcasting UK Ltd (UK)         |  | 0.2228654       
|TV6 Broadcasting Ltd (UK)               |  | 0.3072386       
|3+ Television Ltd (UK)                  |  | 0.2823600       
|MTG New Media Ltd (UK)                  |  | 0.3604568       
|TV3 Broadcasting Group Ltd (UK)         |  | 0.2026891       
|TV3 AB (Sweden)                         |  | 556153-9726     
|TV3 A/S (Denmark)                       |  | 160004          
|TV 3 AS (Norway)                        |  | 945482540       
|TV1000 AB (Sweden)                      |  | 556133-5521     
|TV 1000 Norge AS (Norway)               |  | 952580108       
|Oy Viasat Finland Ab (Finland)          |  | 1075633-8       
|Darial TV (Russia)                      |  | 68394           
|MTG Modern Group (Spain)                |  | NIF B-82199647  
|InTV Espana SL (Spain)                  |  | A-81134819      
|Interactive Partner SL (Spain)          |  | B-82055369      
|Interactive Media (Spain)               |  | B-82199647      
|Viasat AS (Norway)                      |  | 951801879       
|Viasat A/S (Denmark)                    |  | 10300207        
|Scannews A/S (Denmark)                  |  | 182427          
|Viasat Sport A/S (Denmark)              |  | 17981544        
|New Media A/S (Denmark)                 |  | 25997913        
|TV1000 A/S (Denmark)                    |  | 175529          
|MTG New Media AB (Sweden)               |  | 556461-1662     
|Everytext Skand. AB (Sweden)            |  | 556484-0154     
|MTG New Media AS (Norway)               |  | 974676435       
|Everymobile Skand. AB (Sweden)          |  | 556529-7917     
|Everyday TV AB (Sweden)                 |  | 556353-3065     
|Viasat Satellite Services AB            |  | 556278-7910     
|Associated companies                    |  |                 
|Stop AB (Sweden)                        |  | 556249-0424     
|Svensk Programagentur AB (Sweden)       |  | 556453-6281     
|Story First Communication Inc. (Russia) |  |                 
|Scansat A/S (Denmark)                   |  |                 

96

---



Schedule 13

Permitted
Loans

|   |  | Name of Borrower |  | Name of Lender                   |  | Amount                |  | Indebtedness                                               
|-- |  | ---------------- |  | -------------------------------- |  | --------------------- |  | -----------------------------------------------------------
|1. |  | MISA             |  | Modern Times Group
MTG AB (publ) |  | Nominal
US$22,080,000 |  | 6.25% convertible bonds issued by MISA dated 23rd May, 2000
|2. |  | MISA             |  | Modern Times Group
AB MTG (publ) |  | Nominal
US$23,500,000 |  | Loan agreement dated 15th August, 2000                     
|3. |  | MISA             |  | Modern Times Group
AB MTG (publ) |  | Nominal
US$20,000,000 |  | 6.00% convertible bonds issued by MISA dated May 2002      

97

---



SCHEDULE 2    CONDITIONS PRECEDENT DOCUMENTS

98

---

99

---



Signatories

|THE BORROWER                                                    |   |                                        |                         
|--------------------------------------------------------------- | - | -------------------------------------- | ------------------------
|EXECUTED as a deed by                                           | ) |                                        | /s/LARS-JOHAN JARNHEIMER
|MODERN TIMES GROUP MTG AB (publ)acting by
Lars-Johan Jarnheimer | ) |                                        |                         
|and Asger Aamund                                                |   |                                        | )                       
|acting under the authority of that                              | ) |                                        | /s/ASGER AAMUND         
|company, in the presence of:                                    | ) |                                        |                         
|Witness's                                                       |   |                                        |                         
|Signature:                                                      |   | /s/JETTE GRUNDTVIG                     |                         
|Name:                                                           |   | JETTE GRUNDTVIG                        |                         
|Address:                                                        |   | Gammel Stand 401202 Kebenhavn KDenmark |                         
|The Original Guarantors                                         |   |                                        |                         
|EXECUTED as a deed by                                           | ) |                                        |                         
|MTG BROADCASTING SAacting by
Mia Brunell                        | ) |                                        | /s/MIA BRUNELL          
|and Anders Nilsson                                              |   |                                        | )                       
|acting under the authority of that                              | ) |                                        | /s/ANDERS NILSSON       
|company, in the presence of:                                    | ) |                                        |                         
|Witness's                                                       |   |                                        |                         
|Signature:                                                      |   | /s/MATTIAS BJÖRK                       |                         
|Name:                                                           |   | MATTIAS BJÖRK                          |                         
|Address:                                                        |   | Roslinv. 1216851 BrommaSweden          |                         
|EXECUTED as a deed by                                           | ) |                                        |                         
|MTG BROADCASTING HOLDING ABacting by
Mia Brunell                | ) |                                        | /s/MIA BRUNELL          
|and Anders Nilsson                                              |   |                                        | )                       
|acting under the authority of that                              | ) |                                        |                         
|company, in the presence of:                                    | ) |                                        | /s/ANDERS NILSSON       
|Witness's                                                       |   |                                        |                         
|Signature:                                                      |   | /s/MATTIAS BJÖRK                       |                         
|Name:                                                           |   | MATTIAS BJÖRK                          |                         
|Address:                                                        |   | Roslinv. 1216851 BrommaSweden          |                         
|EXECUTED as a deed by                                           | ) |                                        |                         
|MTG BROADCASTING ABacting by
Mia Brunell                        | ) |                                        | /s/MIA BRUNELL          
|and Anders Nilsson                                              |   |                                        | )                       
|acting under the authority of that                              | ) |                                        | /s/ANDERS NILSSON       
|company, in the presence of:                                    | ) |                                        |                         
|                                                                |   |                                        |                         

100

---

|Witness's                                |   |                               |                         |  |                                 
|---------------------------------------- | - | ----------------------------- | ----------------------- |  | --------------------------------
|Signature:                               |   | /s/MATTIAS BJÖRK              |                         |  |                                 
|Name:                                    |   | MATTIAS BJÖRK                 |                         |  |                                 
|Address:                                 |   | Roslinv. 1216851 BrommaSweden |                         |  |                                 
|EXECUTED as a deed by                    | ) |                               |                        
|VIASAT ABacting by
Mia Brunell           | ) |                               | /s/MIA BRUNELL         
|and Anders Nilsson                       |   |                               | )                       |  |                                 
|acting under the authority of that       | ) |                               | /s/ANDERS NILSSON      
|company, in the presence of:             | ) |                               |                        
|Witness's                                |   |                               |                         |  |                                 
|Signature:                               |   | /s/MATTIAS BJÖRK              |                         |  |                                 
|Name:                                    |   | MATTIAS BJÖRK                 |                         |  |                                 
|Address:                                 |   | Roslinv. 1216851 BrommaSweden |                         |  |                                 
|EXECUTED as a deed byVIASAT BROADCASTING | ) |                               |                        
|UK LIMITEDacting by
Anders Nilsson       | ) |                               |                        
|and Hans-Holger Albrecht                 |   |                               | )                       |  | /s/ANDERS NILSSON               
|acting under the authority of that       | ) |                               |                        
|company, in the presence of:             | ) |                               | /s/HANS-HOLGER ALBRECHT
|Witness's                                |   |                               |                         |  |                                 
|Signature:                               |   |                               |                         |  |                                 
|                                         |   | /s/MATTIAS BJÖRK              |                         |  | /s/MATTHEW HOOPER               
|Name:                                    |   |                               |                         |  |                                 
|                                         |   | MATTIAS BJÖRK                 |                         |  | MATTHEW HOOPER                  
|Address:                                 |   | Roslinv. 1216851 BrommaSweden |                         |  | 27 Fitzwilliam RoadLondonSW4 ODW
|EXECUTED as a deed by                    | ) |                               |                        
|TV1000 ABacting by
Mia Brunell           | ) |                               | /s/MIA BRUNELL         
|and Anders Nilsson                       |   |                               | )                       |  |                                 
|acting under the authority of that       | ) |                               |                        
|company, in the presence of:             | ) |                               | /s/ANDERS NILSSON      
|Witness's                                |   |                               |                         |  |                                 
|Signature:                               |   | /s/MATTIAS BJÖRK              |                         |  |                                 
|Name:                                    |   | MATTIAS BJÖRK                 |                         |  |                                 
|Address:                                 |   | Roslinv. 1216851 BrommaSweden |                         |  |                                 

101

---

|EXECUTED as a deed by                          | ) |                               |                  
|---------------------------------------------- | - | ----------------------------- | -----------------
|MTG PUBLISHING SAacting by
Mia Brunell         | ) |                               | /s/MIA BRUNELL   
|and Anders Nilsson                             |   |                               | )                
|acting under the authority of that             | ) |                               | /s/ANDERS NILSSON
|company, in the presence of:                   | ) |                               |                  
|Witness's                                      |   |                               |                  
|Signature:                                     |   | /s/MATTIAS BJÖRK              |                  
|Name:                                          |   | MATTIAS BJÖRK                 |                  
|Address:                                       |   | Roslinv. 1216851 BrommaSweden |                  
|EXECUTED as a deed by                          | ) |                               |                  
|MTG PUBLISHING HOLDING ABacting by
Mia Brunell | ) |                               | /s/MIA BRUNELL   
|and Anders Nilsson                             |   |                               | )                
|acting under the authority of that             | ) |                               | /s/ANDERS NILSSON
|company, in the presence of:                   | ) |                               |                  
|Witness's                                      |   |                               |                  
|Signature:                                     |   | /s/MATTIAS BJÖRK              |                  
|Name:                                          |   | MATTIAS BJÖRK                 |                  
|Address:                                       |   | Roslinv. 1216851 BrommaSweden |                  
|EXECUTED as a deed by                          | ) |                               |                  
|MTG PUBLISHING ABacting by
Mia Brunell         | ) |                               | /s/MIA BRUNELL   
|and Anders Nilsson                             |   |                               | )                
|acting under the authority of that             | ) |                               | /s/ANDERS NILSSON
|company, in the presence of:                   | ) |                               |                  
|Witness's                                      |   |                               |                  
|Signature:                                     |   | /s/MATTIAS BJÖRK              |                  
|Name:                                          |   | MATTIAS BJÖRK                 |                  
|Address:                                       |   | Roslinv. 1216851 BrommaSweden |                  

102

---

|EXECUTED as a deed by                     | ) |                               |                  
|----------------------------------------- | - | ----------------------------- | -----------------
|MTG HOLDING ABacting by
Mia Brunell       | ) |                               | /s/MIA BRUNELL   
|and Anders Nilsson                        |   |                               | )                
|acting under the authority of that        | ) |                               | /s/ANDERS NILSSON
|company, in the presence of:              | ) |                               |                  
|Witness's                                 |   |                               |                  
|Signature:                                |   | /s/MATTIAS BJÖRK              |                  
|Name:                                     |   | MATTIAS BJÖRK                 |                  
|Address:                                  |   | Roslinv. 1216851 BrommaSweden |                  
|EXECUTED as a deed by                     | ) |                               |                  
|MODERN TIMES GROUP MTG A/S(Denmark)       | ) |                               | /s/MIA BRUNELL   
|acting by Mia Brunell                     |   |                               |                  
|and Anders Nilsson                        |   |                               | )                
|acting under the authority of that        | ) |                               | /s/ANDERS NILSSON
|company, in the presence of:              | ) |                               |                  
|Witness's                                 |   |                               |                  
|Signature:                                |   | /s/MATTIAS BJÖRK              |                  
|Name:                                     |   | MATTIAS BJÖRK                 |                  
|Address:                                  |   | Roslinv. 1216851 BrommaSweden |                  
|EXECUTED as a deed by                     | ) |                               |                  
|VIASAT A/S (Denmark)acting by
Mia Brunell | ) |                               | /s/MIA BRUNELL   
|and Anders Nilsson                        |   |                               | )                
|acting under the authority of that        | ) |                               | /s/ANDERS NILSSON
|company, in the presence of:              | ) |                               |                  
|Witness's                                 |   |                               |                  
|Signature:                                |   | /s/MATTIAS BJÖRK              |                  
|Name:                                     |   | MATTIAS BJÖRK                 |                  
|Address:                                  |   | Roslinv. 1216851 BrommaSweden |                  

103

---

|EXECUTED as a deed by                    | ) |                                  |                        
|---------------------------------------- | - | -------------------------------- | -----------------------
|3+ TELEVISION LTDacting by
Mia Brunell   | ) |                                  | /s/MIA BRUNELL         
|and Anders Nilsson                       |   |                                  | )                      
|acting under the authority of that       | ) |                                  | /s/ANDERS NILSSON      
|company, in the presence of:             | ) |                                  |                        
|Witness's                                |   |                                  |                        
|Signature:                               |   | /s/MATTIAS BJÖRK                 |                        
|Name:                                    |   | MATTIAS BJÖRK                    |                        
|Address:                                 |   | Roslinv. 1216851 BrommaSweden    |                        
|EXECUTED as a deed byMODERN              | ) |                                  |                        
|ENTERTAINMENT LTD                        | ) |                                  | /s/HANS-HOLGER ALBRECHT
|acting by Hans-Holger Albrecht           |   |                                  | )                      
|                                         |   |                                  | )                      
|acting under the authority of that       | ) |                                  |                        
|company, in the presence of:             | ) |                                  |                        
|Witness's                                |   |                                  |                        
|Signature:                               |   | /s/MATTHEW HOOPER                |                        
|Name:                                    |   | MATTHEW HOOPER                   |                        
|Address:                                 |   | 27 Fitzwilliam RoadLondonSW4 ODW |                        
|EXECUTED as a deed by                    | ) |                                  |                        
|STRIX TELEVISION ABacting by
Mia Brunell | ) |                                  | /s/MIA BRUNELL         
|and Anders Nilsson                       |   |                                  | )                      
|acting under the authority of that       | ) |                                  | /s/ANDERS NILSSON      
|company, in the presence of:             | ) |                                  |                        
|Witness's                                |   |                                  |                        
|Signature:                               |   | /s/MATTIAS BJÖRK                 |                        
|Name:                                    |   | MATTIAS BJÖRK                    |                        
|Address:                                 |   | Roslinv. 1216851 BrommaSweden    |                        

104

---

|EXECUTED as a deed by                      | ) |                               |                  
|------------------------------------------ | - | ----------------------------- | -----------------
|TV 1000 NORGE ASacting by
Mia Brunell      | ) |                               | /s/MIA BRUNELL   
|and Anders Nilsson                         |   |                               | )                
|acting under the authority of that         | ) |                               | /s/ANDERS NILSSON
|company, in the presence of:               | ) |                               |                  
|Witness's                                  |   |                               |                  
|Signature:                                 |   | /s/MATTIAS BJÖRK              |                  
|Name:                                      |   | MATTIAS BJÖRK                 |                  
|Address:                                   |   | Roslinv. 1216851 BrommaSweden |                  
|EXECUTED as a deed byTV6 BROADCASTING      | ) |                               |                  
|GROUP LTDacting by
Mia Brunell             | ) |                               | /s/MIA BRUNELL   
|and Anders Nilsson                         |   |                               | )                
|company, in the presence of:               | ) |                               |                  
|Witness's                                  |   |                               |                  
|Signature:                                 |   | /s/MATTIAS BJÖRK              |                  
|Name:                                      |   | MATTIAS BJÖRK                 |                  
|Address:                                   |   | Roslinv. 1216851 BrommaSweden |                  
|EXECUTED as a deed by                      | ) |                               |                  
|TV6 SVERIGE ABacting by
Mia Brunell        | ) |                               | /s/MIA BRUNELL   
|and Anders Nilsson                         |   |                               | )                
|company, in the presence of:               | ) |                               |                  
|Witness's                                  |   |                               |                  
|Signature:                                 |   | /s/MATTIAS BJÖRK              |                  
|Name:                                      |   | MATTIAS BJÖRK                 |                  
|Address:                                   |   | Roslinv. 1216851 BrommaSweden |                  
|EXECUTED as a deed by                      | ) |                               |                  
|MTG MEDIA SERVICES SAacting by
Mia Brunell | ) |                               | /s/MIA BRUNELL   
|and Anders Nilsson                         |   |                               | )                
|company, in the presence of:               | ) |                               |                  
|Witness's                                  |   |                               |                  
|Signature:                                 |   | /s/MATTIAS BJÖRK              |                  
|Name:                                      |   | MATTIAS BJÖRK                 |                  
|Address:                                   |   | Roslinv. 1216851 BrommaSweden |                  

105

---

|EXECUTED as a deed by                              | ) |                               |               
|-------------------------------------------------- | - | ----------------------------- | --------------
|MTG MEDIA SERVICES HOLDING ABacting by
Mia Brunell | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                 |   |                               | )             
|company, in the presence of:                       | ) |                               |               
|Witness's                                          |   |                               |               
|Signature:                                         |   | /s/MATTIAS BJÖRK              |               
|Name:                                              |   | MATTIAS BJÖRK                 |               
|Address:                                           |   | Roslinv. 1216851 BrommaSweden |               
|EXECUTED as a deed by                              | ) |                               |               
|MTG MODERN STUDIOS ABacting by
Mia Brunell         | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                 |   |                               | )             
|company, in the presence of:                       | ) |                               |               
|Witness's                                          |   |                               |               
|Signature:                                         |   | /s/MATTIAS BJÖRK              |               
|Name:                                              |   | MATTIAS BJÖRK                 |               
|Address:                                           |   | Roslinv. 1216851 BrommaSweden |               
|EXECUTED as a deed byTV3 BROADCASTING              | ) |                               |               
|GROUP LTDacting by
Mia Brunell                     | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                 |   |                               | )             
|company, in the presence of:                       | ) |                               |               
|Witness's                                          |   |                               |               
|Signature:                                         |   | /s/MATTIAS BJÖRK              |               
|Name:                                              |   | MATTIAS BJÖRK                 |               
|Address:                                           |   | Roslinv. 1216851 BrommaSweden |               
|EXECUTED as a deed by                              | ) |                               |               
|TV-SHOP EUROPE ABacting by
Mia Brunell             | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                 |   |                               | )             
|company, in the presence of:                       | ) |                               |               
|Witness's                                          |   |                               |               
|Signature:                                         |   | /s/MATTIAS BJÖRK              |               
|Name:                                              |   | MATTIAS BJÖRK                 |               
|Address:                                           |   | Roslinv. 1216851 BrommaSweden |               

106

---

|EXECUTED as a deed by                             | ) |                               |               
|------------------------------------------------- | - | ----------------------------- | --------------
|VIASAT SATELLITE SERVICES ABacting by
Mia Brunell | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                |   |                               | )             
|company, in the presence of:                      | ) |                               |               
|Witness's                                         |   |                               |               
|Signature:                                        |   | /s/MATTIAS BJÖRK              |               
|Name:                                             |   | MATTIAS BJÖRK                 |               
|Address:                                          |   | Roslinv. 1216851 BrommaSweden |               
|EXECUTED as a deed by                             | ) |                               |               
|MTG INTERNET RETAILING ABacting by
Mia Brunell    | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                |   |                               | )             
|company, in the presence of:                      | ) |                               |               
|Witness's                                         |   |                               |               
|Signature:                                        |   | /s/MATTIAS BJÖRK              |               
|Name:                                             |   | MATTIAS BJÖRK                 |               
|Address:                                          |   | Roslinv. 1216851 BrommaSweden |               
|EXECUTED as a deed by                             | ) |                               |               
|MTG RADIO ABacting by
Mia Brunell                 | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                |   |                               | )             
|company, in the presence of:                      | ) |                               |               
|Witness's                                         |   |                               |               
|Signature:                                        |   | /s/MATTIAS BJÖRK              |               
|Name:                                             |   | MATTIAS BJÖRK                 |               
|Address:                                          |   | Roslinv. 1216851 BrommaSweden |               
|EXECUTED as a deed by                             | ) |                               |               
|SONET FILM AKTIEBOLAGacting by
Mia Brunell        | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                |   |                               | )             
|company, in the presence of:                      | ) |                               |               
|Witness's                                         |   |                               |               
|Signature:                                        |   | /s/MATTIAS BJÖRK              |               
|Name:                                             |   | MATTIAS BJÖRK                 |               
|Address:                                          |   | Roslinv. 1216851 BrommaSweden |               

107

---

|EXECUTED as a deed by                                    | ) |                               |               
|-------------------------------------------------------- | - | ----------------------------- | --------------
|VIASAT AS(Norway) acting by
Mia Brunell                  | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                       |   |                               | )             
|company, in the presence of:                             | ) |                               |               
|Witness's                                                |   |                               |               
|Signature:                                               |   | /s/MATTIAS BJÖRK              |               
|Name:                                                    |   | MATTIAS BJÖRK                 |               
|Address:                                                 |   | Roslinv. 1216851 BrommaSweden |               
|EXECUTED as a deed by                                    | ) |                               |               
|MODERN TIMES GROUP MTG AS(Norway) acting by)
Mia Brunell | ) |                               | /s/MIA BRUNELL
|and Anders Nilsson                                       |   |                               | )             
|company, in the presence of:                             | ) |                               |               
|Witness's                                                |   |                               |               
|Signature:                                               |   | /s/MATTIAS BJÖRK              |               
|Name:                                                    |   | MATTIAS BJÖRK                 |               
|Address:                                                 |   | Roslinv. 1216851 BrommaSweden |               
|EXECUTED as a deed by                                    | ) |                               |               
|FINANS VISION ABacting by
Mia Brunell                    |   |                               | /s/MIA BRUNELL
|and Anders Nilsson                                       |   |                               | )             
|company, in the presence of:                             | ) |                               |               
|Witness's                                                |   |                               |               
|Signature:                                               |   | /s/MATTIAS BJÖRK              |               
|Name:                                                    |   | MATTIAS BJÖRK                 |               
|Address:                                                 |   | Roslinv. 1216851 BrommaSweden |               

108

---

|The Arrangers                                        |   |                                                                                                           |                
|---------------------------------------------------- | - | --------------------------------------------------------------------------------------------------------- | ---------------
|EXECUTED as a deed by                                | ) |                                                                                                           | /s/PAUL SENNETT
|DEUTSCHE BANK AG LONDONacting by
Paul Sennett        | ) |                                                                                                           |                
|and David Bugge                                      |   |                                                                                                           | )              
|acting under the authority of that                   | ) |                                                                                                           | /s/DAVID BUGGE 
|company, in the presence of:                         | ) |                                                                                                           |                
|Witness's                                            |   |                                                                                                           |                
|Signature:                                           |   | /s/ALAN WESTHEAD                                                                                          |                
|Name:                                                |   | ALAN WESTHEAD                                                                                             |                
|Address:                                             |   | c/o Deutsche BankWinchester House1 Great Winchester StreetLondon EC2N2DB                                  |                
|EXECUTED as a deed by                                | ) |                                                                                                           |                
|NORDEA BANK SWEDEN AB (publ)acting by
Axel Berning   | ) |                                                                                                           |                
|                                                     |   |                                                                                                           | )              
|acting under the authority of that                   | ) |                                                                                                           | /s/AXEL BERNING
|company, in the presence of:                         | ) |                                                                                                           |                
|Witness's                                            |   |                                                                                                           |                
|Signature:                                           |   | /s/KECKA WÄSTFELT                                                                                         |                
|Name:                                                |   | KECKA WÄSTFELT                                                                                            |                
|Address:                                             |   | Norden Bank Sweden AB (publ)Corporate Division, SwedenMalmskillnedsgatan 23, s26SE105 71 Stockholm Sweden |                
|The Banks                                            |   |                                                                                                           |                
|EXECUTED as a deed by                                | ) |                                                                                                           |                
|SVENSKA HANDELSBANKEN AB (publ)acting by
Elka Hübner | ) |                                                                                                           | /s/ELKA HÜBNER 
|and Anette Fabian-Vaz                                |   |                                                                                                           | )              
|acting under the authority of that                   | ) |                                                                                                           |                
|company, in the presence of:                         | ) |                                                                                                           |                
|Witness's                                            |   |                                                                                                           |                
|Signature:                                           |   | /s/WAI LING CHAN                                                                                          |                
|Name:                                                |   | WAI LING CHAN                                                                                             |                
|Address:                                             |   | Herzogstrasse 15D-40217 DüsseldorfGermany                                                                 |                

---

|EXECUTED as a deed by                              | ) |                                                                                                            | /s/PAUL SENNETT
|-------------------------------------------------- | - | ---------------------------------------------------------------------------------------------------------- | ---------------
|DEUTSCHE BANK AG LONDONacting by
Paul Sennett      | ) |                                                                                                            |                
|and David Bugge                                    |   |                                                                                                            | )              
|acting under the authority of that                 | ) |                                                                                                            | /s/DAVID BUGGE 
|company, in the presence of:                       | ) |                                                                                                            |                
|Witness's                                          |   |                                                                                                            |                
|Signature:                                         |   | /s/ALAN WESTHEAD                                                                                           |                
|Name:                                              |   | ALAN WESTHEAD                                                                                              |                
|Address:                                           |   | c/o Deutsche BankWinchester House1 Great Winchester StreetLondon EC2N2DB                                   |                
|EXECUTED as a deed by                              | ) |                                                                                                            |                
|DRESDNER BANK LUXEMBOURG S.A.acting by
J. Shirra   | ) |                                                                                                            | /s/C. KOGGE    
|and C. Kogge                                       |   |                                                                                                            | )              
|acting under the authority of that                 | ) |                                                                                                            | /s/J. SCHIRRA  
|company, in the presence of:                       | ) |                                                                                                            |                
|Witness's                                          |   |                                                                                                            |                
|Signature:                                         |   | /s/C. SCHEGA                                                                                               |                
|Name:                                              |   | C. SCHEGA                                                                                                  |                
|Address:                                           |   | 26 Rue du Marché-aux-HerbesL-2097 Luxembourg                                                               |                
|EXECUTED as a deed by                              | ) |                                                                                                            |                
|NORDEA BANK SWEDEN AB (publ)acting by
Axel Berning | ) |                                                                                                            | /s/AXEL BERNING
|                                                   |   |                                                                                                            | )              
|acting under the authority of that                 | ) |                                                                                                            |                
|company, in the presence of:                       | ) |                                                                                                            |                
|Witness's                                          |   |                                                                                                            |                
|Signature:                                         |   | /s/KECKA WÄSTFELT                                                                                          |                
|Name:                                              |   | KECKA WÄSTFELT                                                                                             |                
|Address:                                           |   | Norden Bank Sweden AB (publ)Corporate Division, SwedenMalmskillnadsgatan 23, s.26SE-10571 Stockholm Sweden |                

---

|EXECUTED as a deed by                                      | ) |                                           |                      
|---------------------------------------------------------- | - | ----------------------------------------- | ---------------------
|DEN NORSKE BANK ASAacting by
Jørgen Hvistendahl            | ) |                                           | /s/JØRGEN HVISTENDAHL
|and Anders Grevstad                                        |   |                                           | )                    
|acting under the authority of that                         | ) |                                           | /s/ANDERS GREVSTAD   
|company, in the presence of:                               | ) |                                           |                      
|Witness's                                                  |   |                                           |                      
|Signature:                                                 |   | /s/HÄVARD BJØRGE                          |                      
|Name:                                                      |   | HÄVARD BJØRGE                             |                      
|Address:                                                   |   | SKOGBRYNET 37D0283 OsloNorway             |                      
|EXECUTED as a deed by                                      | ) |                                           |                      
|BANQUE ET CAISSE D'EPARGNE,
DE L'ETAT, LUXEMBOURGJohn Dhur | ) |                                           | /s/JOHN DHUR         
|acting under the authority of that                         | ) |                                           |                      
|company, in the presence of:                               | ) |                                           |                      
|Witness's                                                  |   |                                           |                      
|Signature:                                                 |   | /s/JEAN-PIERRE THEIN                      |                      
|Name:                                                      |   | JEAN-PIERRE THEIN                         |                      
|Address:                                                   |   | 1 Place de MetzL-1930 Luxembourg          |                      
|EXECUTED as a deed by                                      | ) |                                           |                      
|WESTLB AGacting by
Elke Hübner                             | ) |                                           | /s/ELKE HÜBNER       
|and Anette Fabian-Vaz                                      |   |                                           | )                    
|acting under the authority of that                         | ) |                                           | /s/ANETTE FABIAN-VAZ 
|company, in the presence of:                               | ) |                                           |                      
|Witness's                                                  |   |                                           |                      
|Signature:                                                 |   | /s/WAI LING CHAN                          |                      
|Name:                                                      |   | WAI LING CHAN                             |                      
|Address:                                                   |   | Herzogstrasse 15D-40217 DüsseldorfGermany |                      

---

|EXECUTED as a deed by                    | ) |                                                                           |                          
|---------------------------------------- | - | ------------------------------------------------------------------------- | -------------------------
|ING BANK N.V.acting by
S.A.L. Haanraadts | ) |                                                                           | /s/S.A.L. HAANRAADTS     
|and S. Schach Von Wittenau               |   |                                                                           | )                        
|acting under the authority of that       | ) |                                                                           | /s/S. SCHACH VON WITTENAU
|company, in the presence of:             | ) |                                                                           |                          
|Witness's                                |   |                                                                           |                          
|Signature:                               |   | /s/E. MARTIN VAN DUIJN                                                    |                          
|Name:                                    |   | E. MARTIN VAN DUIJN                                                       |                          
|Address:                                 |   | Eglmerplein 8851000 BV AmsterdamThe Netherlands                           |                          
|The Agent                                |   |                                                                           |                          
|EXECUTED as a deed by
Alan Westhead      | ) |                                                                           | /s/DAVID BUGGE           
|DEUTSCHE BANK LUXEMBOURG S.A.acting by   | ) |                                                                           |                          
|and                                      |   |                                                                           | )                        
|acting under the authority of that       | ) |                                                                           | /s/JAMES FENNER          
|company, in the presence of:             | ) |                                                                           |                          
|Witness's                                |   |                                                                           |                          
|Signature:                               |   |                                                                           |                          
|                                         |   | /s/ALAN WESTHEAD                                                          |                          
|Name:                                    |   | ALAN WESTHEAD                                                             |                          
|Address:                                 |   | c/o Deutsche BankWinchester House1 Great Winchester StreetLondon EC2N 2DB |                          

---

QuickLinks