14 February 2008 – Modern Times Group MTG AB (publ.) (“MTG” or “the Group”) (The OMX Nordic Exchange Large Cap market: MTGA, MTGB) today announced its preliminary quarterly and twelve months reports. FOURTH QUARTER HIGHLIGHTS • Group net sales up 12% year on year to SEK 3,268 million • Group operating income up 40% year on year to SEK 611 million with increased operating margin of 19% • Viasat Broadcasting net sales up 17% year on year to SEK 2,571 million following 14% growth in free-to-air Scandinavia sales, and operating income up 21% to SEK 611 million with increased operating margin of 24% • Net income up 45% to SEK 458 million • Basic earnings per share up 41% year on year to SEK 6.48 • Tender offer for Gymgrossisten and acquisition of two further online retailers, and sale of Sonet Film business FULL YEAR HIGHLIGHTS • Group net sales up 12% year on year to SEK 11,351 million • Group operating income up 14% year on year to SEK 2,027 million with an operating margin of 18% • Viasat Broadcasting net sales up 13% year on year to SEK 8,842 million and operating income up 6% to SEK 2,027 million with operating margin of 23% • Net income of SEK 1,428 (1,499 million including SEK 241 million non-cash gain arising from CTC Media IPO during 2006) • Basic earnings per share of SEK 20.35 • SEK 307 million repurchase of 719,000 class B shares at weighted average price of SEK 427 per share between 20 September and year end • Board to propose an ordinary dividend of SEK 5 per share and an extraordinary dividend of SEK 10 per share to AGM • Board to continue focus on flexible capital structure and seek AGM authorisation for potential repurchase of up to 10% of outstanding shares Hans-Holger Albrecht, President and Chief Executive Officer, commented: “The fourth quarter and full year results set new Group records – both in terms of revenues and profitability. We broke through the SEK 2 billion Group operating profit level for the first time, following a 12% rise in sales. Taken together with an operating margin of 23% for our Viasat Broadcasting business, these results demonstrate that we are on track with our strategic goals. The core Scandinavian markets have performed well, with our investments in existing and new channels paying off in increased audience and market shares, whilst the development of our Eastern European assets has accelerated during the year to deliver 26% sales growth and contribute 42% of Group operating profits. We have therefore further extended our penetration of the highest growth media markets in Europe, and are a more international broadcasting group than ever. Our strategy remains clear – making our content and channels as broadly available as possible, and continuing to expand our footprint and reach. At the same time, we have continued the discipline of disposing of non-core or underperforming businesses and strictly managing our capital allocations, which yielded a record 34% return on average capital employed for the full year. MTG ended the year in a net cash position even after the payment of a SEK 503 million dividend and the investment of SEK 307 million in buying back our own shares. We generated SEK 930 million of operating free cash flow during 2007 and had liquid funds of SEK 3.7 billion at the year end. The Board will therefore propose an ordinary dividend of SEK 5 per share and an extraordinary dividend of SEK 10 per share to this year’s AGM. The Board is committed to maintaining a flexible capital structure, in order to balance the availability of funds for investment in the further expansion of the Group’s operations with the delivery of enhanced shareholder returns. The Board will therefore also seek shareholder authorisation for the potential buying-back of up to 10% of the Group’s shares over the twelve month period following the AGM in May.” For further information, please visit www.mtg.se, email firstname.lastname@example.org, or contact: Hans-Holger Albrecht, President & CEO tel: +46 (0) 8 562 000 50 Mathias Hermansson, Chief Financial Officer tel: +46 (0) 8 562 000 50 Matthew Hooper, Investor & Analyst Enquiries tel: +44 (0) 7768 440 414 Bert Willborg, Press Enquiries tel: +44 (0) 791 2280 850 The information in this Interim Report is that which Modern Times Group MTG AB is required to disclose under the Securities Markets Act. It was released for publication at 13.00 CET on 14 February 2008.