June 18 2009

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment broadcasting group, today announced that it has issued and immediately repurchased 370,000 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 held on 11 May 2009.

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 850,000 Class C shares, having previously issued and repurchased 480,000 Class C shares on 28 August 2008 in accordance with the terms of the incentive programme approved by the MTG 2008 Annual General Meeting of shareholders.

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