MTG: ISSUE AND REPURCHASE OF CLASS C SHARES

August 28 2008

Modern Times Group MTG AB (publ.) (‘MTG’ or the ‘Group’), the international entertainment broadcasting group, today announced that it has issued and immediately repurchased 480,000 new Class C shares. The shares have been issued and repurchased in accordance with the Group’s performance-based incentive programme, which was approved by the Group’s Annual General Meeting of shareholders held on 14 May 2008.

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 purpose of the share issue is 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.


For further information, please visit www.mtg.se or contact:

Hans-Holger Albrecht, President & CEO
Tel: +46 (0) 8 562 000 50

Investor & Analyst Enquiries
Matthew Hooper / Oscar Hyléen
Tel: +44 (0) 7768 440 414 / +46 (0) 707 620 024
Email: investor.relations@mtg.se

Press Enquiries
Bert Willborg
Tel: +44 (0) 791 2280 850
Email: bert.willborg@mtg.se

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