Issue and repurchase of Class C shares

June 15 2011

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment broadcasting group, today announced that it has issued and immediately repurchased 240,000 new Class C shares. The shares have been issued and repurchased in accordance with the terms of the performance-based incentive programme which was approved by the MTG Annual General Meeting of shareholders on 18 May 2011.

Nordea Bank AB subscribed for the entire issue of new Class C shares at a subscription price of SEK 5.00 per share. The entire issue of Class C shares has then been repurchased by MTG for SEK 5.00 per share.

The shares were issued in order to enable the future delivery of Class B shares to senior executives participating in the Group’s incentive programme. The Class C shares will be converted into Class B shares prior to delivery to qualifying participants. Class C shareholders are not entitled to dividend payments.

MTG now holds a total of 865,000 Class C shares, following prior issues of Class C shares according to the terms of the 2010, 2009 and 2008 incentive programmes approved by the respective MTG Annual General Meetings.

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