MTG: ISSUE AND REPURCHASE OF CLASS C SHARES

MTG: ISSUE AND REPURCHASE OF CLASS C SHARES

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the international
entertainment broadcasting group, today announced that it has issued and
immediately repurchased 370,000 new Class C shares.  The shares have been issued
and repurchased in accordance with the terms of the performance-based incentive
programme, which was approved by the MTG Annual General Meeting of shareholders
held on 11 May 2009.

Nordea Bank AB subscribed for the entire issue of new Class C shares at a
subscription price of SEK 5.00 per share.  The entire issue of Class C shares
has then been repurchased by MTG for SEK 5.00 per share. 

The shares were issued in order to enable the future delivery of Class B shares
to senior executives participating in the Group's incentive programme. The Class
C shares will be converted into Class B shares prior to delivery to qualifying
participants. Class C shareholders are not entitled to dividend payments. 

MTG now holds a total of 850,000 Class C shares, having previously issued and
repurchased  480,000 Class C shares  on 28 August 2008 in accordance with the
terms of the incentive programme approved by the MTG 2008 Annual General Meeting
of shareholders.

***

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: +44 (0) 7768 440 414
Email: investor.relations@mtg.se 
                                                                                
   
Media 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 12.00 CET on 18 June
2009.