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Metro International S.A. is a Luxembourg limited-liability company
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METRO ENTERS INTO FRANCHISE AGREEMENT IN RUSSIA
5 July 2005
"Mempo" is distributed in strategic locations and through the St Petersburg subway and its 884.000 daily readers makes it the leading daily newspaper in the region. The newspaper was launched in 1997 as a weekly paper but since 2004 it has been distributed Monday to Friday. "Mempo" is profitable and the partnership with Metro International will further strengthen the operations by enabling it to utilize Metro's unmatched international sales and content resources.
The St Petersburg print advertising market expanded by 48% to more than US$ 80 million in 2004.
Viktor Nathanson, founder of "Mempo" commented: "In our continuous work to improve our services to advertisers and readers, Metro International is the best partner we could find. "Mempo" has been profitable in the last years and we are now ready to move the company to the next level. The access to Metro International's worldwide content as well as to Metro International's international sales, systems and know-how will make us able to provide a further improved and outstanding product under the Metro logotype."
Pelle Törnberg, CEO of Metro International, commented: "Russia is a very exciting market for Metro featuring the largest European population and one of the fastest growing markets for advertising and consumption in the world. The expansion into Russia builds on our already strong and successful presence in the Eastern European markets of Poland, Czech Republic and Hungary. The agreement with "Mempo" provides us with a perfect opportunity to enter Russia and we intend to increase our investment over time."
For further information, please visit www.metro.lu, email info@metro.lu or contact:
Pelle Törnberg, CEO tel: +44 (0) 20 7016 1300
Henrik Persson, Corporate Communications tel: +46 (0) 8 562 000 87