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The world's largest free newspaper group, Metro International S.A., has established its Asia Pacific headquarters in Hong Kong and launched the first Asian edition of its daily newspaper today (April 15).

Metro International S.A., which publishes 23 editions of its newspaper in 15 countries around the world, is a publicly listed company on the Nasdaq and Stockholm stock exchanges.

The President and CEO of Metro International, Mr Pelle Tornberg, announced the launch of Metro at a press conference today. The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, officiated at the launch ceremony.

Last November, the company was awarded a contract by the MTRC for exclusive rights to publish and distribute its newspaper in MTR's 43 stations each morning, six days a week from Monday to Saturday. Copies of the newspapers are also available at 50 other central locations in the city.

Written mainly in Chinese with an international news section in English, the newspaper is designed for the local market with a daily circulation of 300,000.

Mr Tornberg commented: "Hong Kong is the ideal market for the launch of Metro into Asia and the MTR provides the most efficient means of distribution.

"The edition will present the standardised Metro blend of fact-based independent reporting of local, regional and international news and feature stories. As always, the distribution is focused on the young professional commuting public."

Mr Tornberg added: "Our choice to launch our Asian newspaper here was made much easier by Hong Kong's many advantages - such as market openness, free flow of information, promising opportunities in advertising and sales and the availability of a rich talent pool."

Metro has worked closely with Invest Hong Kong in the build-up to the launch and to facilitate the further growth and development of Metro in the city.

Mr Tornberg said: "The support of Invest Hong Kong has been invaluable in terms of providing introductions to the key decision makers in Hong Kong and specialist advice on the local market."

The company will employ 40 people locally in the areas of editorial, advertising sales, marketing and management.

Mr Rowse officially welcomed the company to Hong Kong at the launch ceremony today. He said: "Metro International's choice of Hong Kong as the place to launch its first Asian free newspaper reinforces our position as a multimedia hub. This helps to showcase Hong Kong as an excellent base for international media to operate in the region."

Mr Rowse added: "As the first free daily with mass distribution in Hong Kong, Metro International's newspaper will provide an impetus to the local printed media to innovate and consider new strategies.

Invest Hong Kong is a Hong Kong Special Administrative Region Government department which is dedicated to helping international companies to establish or expand their business operations in the city.

End/Monday, April 15, 2002

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