Apace Media PLC
16 February 2007


    Apace Media plc forms strategic partnership with MTG, a leading European
  broadcaster, to accelerate stated goal of becoming the number 1 Balkan media
                                     group


(London 16 February, 2007) Apace Media plc (APA.L) (Apace), the Eastern European
broadcasting and UK content production company, announces the signing of a
strategic partnership in the Balkans with MTG Broadcasting AB (MTG), the
international entertainment broadcasting group.

This strategic alliance, creating a new 50/50 joint venture company, Balkan
Media Group Limited (BMGL) has the potential to become the leading broadcaster
in the Balkans.

The joint venture will hold all of Apace's Eastern European broadcasting assets
with MTG paying an initial consideration of €8,574,100 to Apace for its 50%
holding in BMGL. This values Apace's Balkan assets at approximately €17m (£12.5
m) which together with Apace's net cash balance, demonstrates the Company's
strong net asset position.

The initial consideration is subject to adjustment based on BMGL's consolidated
closing balance sheet. Part of that consideration will be applied to the
purchase of the Diema minority shares.

The transaction closing is subject to the satisfaction of pre-completion
conditions.

Apace will transfer the following of its assets to BMGL, and will then sell 50%
of its holding in BMGL to MTG:

Company                   Activity                          Country     Holding
Diema Vision AD           Cable & satellite broadcasting    Bulgaria        66%
Television MM             Cable & satellite broadcasting    Bulgaria        66%
Apace Internet Balkans    Internet                          Bulgaria       100%
Apace Media Bulgaria      Central services                  Bulgaria       100%
TV ERA                    Terrestrial broadcasting          Macedonia       66%


At the same time as completing the strategic partnership, BMGL will buy out all
of the shares held by minority shareholders in Diema Vision AD. Didier Stoessel
will become, on completion, Chairman of BMGL.

The transaction is subject to normal commercial warranties.

Knowing the inherent high value of its Balkan investments, Apace Media has,
during the last few months of 2006, continued to accelerate its investment and
spending in its content and broadcasting businesses to enhance further their
value in the medium term. In 2007, it is the partners' strategy to increase the
commercial share of viewing of the BMGL channels and this will also require an
increased amount of programming spend.

Didier Stoessel, Apace Chairman and Chief Executive, said: 'We are delighted to
announce this partnership with MTG, one of the strongest brands in European
broadcasting. The valuation which this transaction places on Apace's Balkan
assets (€17m or £12.5m) is a vindication of our strategy in the region. With MTG
as partners, we expect a healthy future for our businesses in Bulgaria and
Macedonia; one that will also see BMGL growing into a major force in other parts
of the Balkan region. This transaction enables our shareholders to participate
in the commercial development of this exciting part of Europe with increased
scale and ambition but also security.'

Information about Apace: Apace Media plc specialises in content creation and
Eastern European broadcasting. The content creation activities include the
production of popular factual, factual entertainment, science and sports content
for television and the production of music CDs. Its Eastern European
broadcasting and other media activities include the ownership of eight cable
channels, cinema and home entertainment distribution and music production in
Bulgaria and Macedonia.

Apace Media plc ordinary shares are listed on the Alternative Investment Market
of the London Stock Exchange under the symbol APA. (www.apacegroup.co.uk)

Information about MTG: Modern Times Group is an international
entertainment-broadcasting group with operations in more than 30 countries
around the world. MTG is the largest Free-to-air and Pay-TV operator in
Scandinavia and the Baltics, the largest shareholder in Russia's largest
independent television network, and the number one commercial radio operator in
the Nordic region. The Viasat DTH satellite TV platform offers digital
multi-channel TV packages of 50 own-produced and third party entertainment
channels. Viasat TV channels now reach over 90 million people every day in 22
countries across Europe.

Modern Times Group MTG AB class A and B shares are listed on the Nordic Stock
Exchange Large Cap list under the symbols MTGA' and MTGB'. (www.mtg.se)


Further information:
Apace: Didier Stoessel +44 (0)7775 508988
Simon Forrest: +44 (0) 7885317746



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