MTG: ACCOUNTING TREATMENT OF ASSOCIATED COMPANY INCOME

MTG: ACCOUNTING TREATMENT OF ASSOCIATED COMPANY INCOME

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the international
entertainment broadcasting group, today announced the accounting treatment of
its associated income from the fourth quarter 2008 results of CTC Media, Inc. in
the Group's financial results for the first quarter of 2009.

CTC Media published its results for the fourth quarter 2008 on 26 February 2009
and MTG reports its associated income from the company with one quarter's time
lag. The recurring contribution from CTC Media's operations in the fourth
quarter of 2008 will amount to SEK 379 million in MTG's results for the first
quarter of 2009. MTG's share of CTC Media's non-recurring USD 233 million (SEK
1,955 million) non-cash intangible asset impairment charge amounted to SEK -454
million. The Group's total reported associated company income from CTC Media
will therefore amount to SEK -75 million in the first quarter of 2009. 

MTG's total share of CTC Media's non-cash impairment charge has been reduced by
SEK 317 million, which corresponds to 39.4% of CTC Media's USD 95.6 million (SEK
803 million) impairment of DTV Group in Russia. This amount has been eliminated
through the release of the corresponding amount from MTG's previously unrealised
gain from the sale of DTV Group to CTC Media in April 2008. 

MTG announces its results for the first quarter 2009 on 22 April. 


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

Mathias Hermansson, Chief Financial Officer
Tel:       		+46 (0) 8 562 000 50
Investor & Analyst Enquiries:
Matthew Hooper: 	+44 (0) 7768 440 414
Email:   		investor.relations@mtg.se 
Press Enquiries:
Bert Willborg		+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 free-TV channels in the Czech
Republic, Hungary, Slovenia Bulgaria, Macedonia and Ghana. MTG's TV assets are
broadcast in a total of 29 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 Nasdaq OMX
Stockholm's 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 April
2009.