FINANCIAL RESULTS FOR THE FOURTH QUARTER AND TWELVE MONTHS ENDED 31 DECEMBER 2007

FINANCIAL RESULTS FOR THE FOURTH QUARTER AND TWELVE MONTHS ENDED 31 DECEMBER
2007

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
investor.relations@mtg.se, 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.

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 major
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').