OREANDA-NEWS. December 17, 2007. Metromedia International Group, Inc. (PINK SHEETS: MTRMP - Preferred Stock), the owner of interests in communications businesses in the country of Georgia, had releases preliminary financial results for the six months ended June 30, 2007 for its principal core business, Magticom Limited ("Magticom"). Magticom is the leading mobile telephony operator in Tbilisi, Georgia and provides services throughout the country of Georgia. At present, the Company has a 50.1% economic interest in Magticom.

This press release contains preliminary and unaudited US GAAP financial results for Magticom which are subject to adjustment.

Magticom*s highlights for the six months ended June 30, 2007 vs.
2006:

    --  Revenues of $92.0 million vs.. $76.9 million - improvement of
        20%;

    --  EBITDA (1) of $57.3 million vs. $50.1 million - improvement of
        15%;

    --  Monthly ARPU (a) of $12.04 vs. $12.94 - reduction of 7%.

Magticom markets mobile voice, data and video communication services to consumers and commercial users nationwide in the country of Georgia. Magticom currently provides these services via a wireless mobile telephony network operating under the GSM standard in the 900 MHz and 1800 MHz radio frequency spectrum ranges and, beginning in mid-2006, in the 2.1 GHz radio frequency spectrum for 3rd generation GSM communication services.

Magticom's network covers essentially all populated areas of Georgia. The network is engineered and maintained to provide quality of service at world-class levels. Magticom reaches the Georgian consumer market through its own sales and service centers in Georgia's major cities, as well as through a network of independent distributors and dealers situated throughout the country. Corporate and governmental clients are served by Magticom's institutional sales and service team. Services are marketed under two brands: "Magti" which is addressed to the general consumer and institutional markets, and "Bali" which specifically targets youth and student segments. In excess of 90% of Magticom service revenues are pre-paid, with charges for subscribers' current usage being drawn against amounts previously deposited in their Magticom accounts. Magticom competes with Geocell; a second GSM mobile operator that launched service contemporaneously with Magticom approximately 10 years ago; and Magticom has maintained a market share lead over Geocell. In March 2007, a third GSM mobile telephone service provider launched services in Georgia. This provider, an affiliate of the largest Russian mobile operator, Vimpelcom, is marketing services under the "Beeline" brand which has enjoyed considerable success in Russia.