MTG: RECLASSIFICATION OF CLASS A SHARES INTO CLASS B SHARES

MTG: RECLASSIFICATION OF CLASS A SHARES INTO CLASS B SHARES

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the international
entertainment broadcasting group, today announced that, following the
reclassification of a total of 111,953 MTG Class A shares into MTG Class B
shares, the total number of Class A shares has decreased to 15,901,426 and the
total number of Class B shares has increased to 50,785,616 in August. The total
number of issued and outstanding MTG shares is unchanged and amounts to
65,877,042. As a result of the reclassification, the total number of voting
rights in MTG is now 201,699,876 and the total share capital amounts to SEK
329,385,210. Each class A share holds ten voting rights and each class B share
is entitled to one voting right.

Shareholders may request a reclassification of some or all of their MTG Class A
shares into MTG Class B shares in January and July each year.  

***


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   	


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-TV and satellite premium pay-TV operator in
Scandinavia and the Baltics, and also operates channels in the Czech Republic,
Hungary, Slovenia and the Balkans. MTG's TV assets are broadcast in a total of
24 countries and reach over 100 million people. MTG is also the major
shareholder in Russia's largest independent television broadcaster (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 18.00 CET on 29
August, 2008.