Metro divests shares in its South Korean operation

29 december 2010 Metro International S.A. ("Metro") today announced that it has entered into an agreement to sell the shares in its South Korean operation ("Metro Korea") to two of its partners in the operation. As a part of this transaction, Metro has entered into a franchise agreement which entitles Metro to franchise fees based on a percentage on Metro Korea's sales. The acquisition price for Metro's 29.99 percent participation in Metro Korea is €4.9 million. Due to South Korean capital gains tax, Metro will receive a net amount of €4.4 million. The net amount will be paid in two instalments; the first one of €4.2 million on the transaction day which is today and the second one of €0.2 million in twelve months. The shares in Metro Korea had a book value of €5.0 million on 30 September 2010 following the write down of €1.1 million based on price indication. Thus, Metro will incur in Q4 a loss of €0.6 million. Per Mikael Jensen, President and CEO of Metro International, commented: "Metro Korea has a daily readership of 700 000 and has shown stable performance since the launch in 2002. I look forward to continuing the cooperation with our partners in Metro Korea on a franchise basis and to develop the Metro brand in Korea. The payment of €4.4 million for Metro's stake is equivalent to more than 40 times the dividends which Metro received in 2009, and will free up resources for Metro to invest in emerging markets." For further information please visit metro.lu or contact: Per Mikael Jensen, President and CEO                                       Tel: +44 (0)78 4167 3230 Anders Kronborg, CFO             Tel: +44 (0)79 1254 0800 *** ABOUT METRO INTERNATIONAL AND METRO Metro is the largest international newspaper in the world.  Metro is published in over 100 major cities in 19 countries across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well- educated Metropolitan audience of 17 million daily readers. Metro International S.A. shares are listed on Nasdaq OMX Stockholm through Swedish Depository Receipts of series A and series B under the symbols MTROA and MTROB. Metro divests shares in its South Korean operation: http://hugin.info/132142/R/1476038/412132.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metro International via Thomson Reuters ONE [HUG#1476038]