99.42 PER CENT OF GYMGROSSISTEN SHARES ACCEPT CDON OFFER

 99.42 PER CENT OF GYMGROSSISTEN SHARES ACCEPT CDON OFFER

The Offer is not being made, and this press announcement may not be distributed,
directly or indirectly, in or into, nor will any tender of shares be accepted
from or on behalf of holders in, United States of America, Australia, Canada,
South Africa or Japan or any jurisdiction in which the making of the Offer, the
distribution of this press announcement or the acceptance of any tender of
shares would contravene applicable laws or regulations or require further offer
documents, filings or other actions in addition to those required under Swedish
law. This press release is a translation of the Swedish original press release.
In case of any discrepancies between the Swedish version and the English
version, the Swedish shall take precedence.

Modern Times Group MTG AB (publ.) (“MTG”), the international entertainment
broadcasting group, announced on 14 December 2007 that its wholly-owned CDON AB
(“CDON”) subsidiary had made a recommended cash offer of SEK 33.10 per share for
the entire issued share capital of Gymgrossisten Nordic AB (publ)
(“Gymgrossisten”) (the “Offer”).

CDON declared the Offer to be unconditional on 23 January 2008 and extended the
acceptance period until 1 February 2008.

58,027 additional Gymgrossisten shares were tendered under the terms of the
Offer during the extended acceptance period. A total of 5,875,562 shares,
equivalent to 99.42 per cent of the total number of issued and outstanding
Gymgrossisten shares and voting rights have now been tendered under the terms of
the Offer. Settlement of shares tendered during the extended acceptance period
will begin on or around 8 February 2008. 

The Offer will not be extended further.

As previously announced, CDON will initiate a mandatory tender for the remaining
issued and outstanding Gymgrossisten shares, which have not been  tendered under
the terms of  the Offer. CDON will also apply for the Gymgrossisten share to
cease trading on the First North marketplace. An announcement regarding the
final trading date of the Gymgrossisten share will be made in due course. 

***

For further information, please visit www.mtg.se, email
investor.relations@mtg.se, or contact:

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

Matthew Hooper, Investor & Analyst Enquiries		
tel: +44 (0) 20 7321 5010

Bert Willborg, Press Enquiries				
tel: +44 (0) 791 2280 850


Modern Times Group is a leading international entertainment broadcasting group
with the second largest geographical broadcast footprint in Europe. MTG's Viasat
Broadcasting is the largest free-to-air and satellite premium pay-TV operator in
Scandinavia and the Baltics, and also operates channels in the Czech Republic,
Russia, Hungary, Slovenia and the Balkans.  Viasat channels are broadcast in a
total of 24 countries and reach 100 million people. MTG is also the biggest
shareholder in Russia's largest independent television network (CTC Media -
NASDAQ: CTCM), and the number one commercial radio operator in the Nordic and
Baltic regions.

Modern Times Group MTG AB class A and B shares are listed on the OMX Nordic
Exchange Large Cap market (‘MTGA' and ‘MTGB').

The information in this announcement is that which Modern Times Group MTG AB is
required to disclose under the Securities Market Act and/or the Financial
Instruments Trading Act. It was released for publication at 08.00 CET on 6
February, 2008.

The Offer, as well as the agreements entered into between CDON and the
shareholders of Gymgrossisten as a result of the Offer, shall be governed by and
construed in accordance with substantive Swedish law. Disputes relating to the
Offer shall be subject to the exclusive jurisdiction of the Swedish courts, of
which the Stockholm City Court shall be the court of first instance.
The release, publication or distribution of this press announcement in certain
jurisdictions may be restricted by law or regulation and therefore persons in
such jurisdiction into which this announcement is released, published or
distributed must inform themselves about and observe such restrictions.
The Offer is not being made, and this press announcement may not be distributed,
directly or indirectly, in or into, nor will any tender of shares be accepted
from or on behalf of holders in, any jurisdiction in which the making of the
Offer, the distribution of this press announcement or the acceptance of any
tender of shares would contravene applicable laws or regulations or require
further offer documents, filings or other actions in addition to those required
under Swedish law.
The Offer is not being made, directly or indirectly, in or into the United
States of America, Australia, Canada, Japan or South Africa, by use of mail or
any other means or instrumentality (including, without limitation, facsimile
transmission, electronic mail, telex, telephone and the internet) of interstate
or foreign commerce, or of any facility of national security exchange, of the
United States of America, Australia, Canada, Japan or South Africa, and the
Offer cannot be accepted by any such use, means, instrumentality or facility of,
or from within, the United States of America, Australia, Canada, Japan or South
Africa.