Metromedia International remedies one default

New York, May 26 - Metromedia International Group Inc. said it filed its 10-K annual report for 2003 with the Securities and Exchange Commission, avoiding one cause of default under its senior notes.

The Charlotte, N.C., owner of communications and media businesses in Russia, Europe and the Republic of Georgia received a notice from the trustee for its 10½% senior discount notes on April 2 requiring filing of the report and compliance certificates by June 1. If Metromedia International failed to comply there would be a default on the notes.

The company has still to comply with a requirement that it file its 10-Q for the quarter ending March 31. On May 18, the note trustee notified Metromedia International it was not in compliance with the indenture. Compliance is required within 60 days - by July 15 - otherwise there will be a default.

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