MTG: CTC MEDIA ANNOUNCES INTENTION TO PAY DIVIDENDS IN 2010

MTG: CTC MEDIA ANNOUNCES INTENTION TO PAY DIVIDENDS IN 2010

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the international
entertainment broadcasting group, today announced that CTC Media, Inc. ('CTC
Media') has today announced its intention to pay an aggregate of US$ 40 million
in cash dividends in 2010. The Board of Directors of CTC Media has approved the
payment of the first instalment of the dividend in the amount of US$ 0.065 per
outstanding share of common stock, or US$ 10 million in total. The record date
for this first instalment is 10 March 2010 and the payment date is 31 March
2010. CTC Media has also announced its intention to pay the three remaining
instalments of US$ 10 million in each of June, September and December 2010. MTG
currently holds 60 million CTC Media shares, which is equivalent to 38.91% of
CTC Media's outstanding shares. MTG reports its equity participation in the
earnings of CTC Media as associated company income in the Group's income
statements. 


CTC Media is the largest independent television broadcaster in Russia, with
operations throughout Russia and elsewhere in the CIS. It operates three
free-to-air television networks in Russia - CTC, Domashny and DTV; Channel 31 in
Kazakhstan; and TV companies in Uzbekistan and Moldova. CTC Media also owns two
TV content production companies, Costafilm and Soho Media. The Company's common
stock is traded on The Nasdaq Global Select Market under the symbol ‘CTCM'.
Further information about CTC Media is available at www.ctcmedia.ru.

CTC Media announced the dividend in the context of its financial results for the
fourth quarter and twelve months ended 31 December 2009. CTC Media reported
total revenues of US$ 506.1 million, OIBDA adjusted for non-recurring items of
US$ 211.3 million, an adjusted OIBDA margin of 42%, and adjusted net income of
US$ 144.0 million for the full year 2009. CTC Media had a net cash position of
US$ 95.2 million as at the end of 2009. 

Hans-Holger Albrecht, President and CEO of MTG, commented: “This is the first
cash dividend that we will have received from CTC Media and indicates the highly
cash generative nature of the business. We have invested a total of
approximately US$ 83 million in the acquisition of our shareholding in CTC Media
and are the largest shareholder in the Company. CTC Media has a portfolio of
well-positioned TV networks in Russia, which had a combined 13.2% share of
viewing in 2009, and has also successfully expanded into content creation and a
number of other CIS countries in the last few years.”

MTG's shares in CTC Media had a public equity market value of US$ 922 million
(approximately SEK 6,624 million) as at the close of trading on Nasdaq
yesterday, 25 February 2010
 
***

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

Hans Holger Albrecht, Chief Executive Officer
Tel:	+46 (0) 8 562 000 50
 
Investor & Analyst Enquiries:
Matthew Hooper/ Oscar Hyleen
Tel:	+44 (0) 7768 440 414 / +46 (0) 707 620 024
Email:	investor.relations@mtg.se 
                                                                                
   
Media 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 largest geographical broadcast footprint in Europe. MTG's Viasat
Broadcasting is the leading free-TV and pay-TV operator in Scandinavia and the
Baltics, and has broadcasting operations in Bulgaria, Czech Republic, Hungary,
Slovenia, Russia, Ukraine and Ghana. Viasat's free-TV and pay-TV channels and
pay-TV platforms attract a total of 125 million viewers in 30 countries. MTG is
also the major shareholder in Russia's largest independent television
broadcaster (CTC Media - Nasdaq: CTCM), and the number one commercial radio
operator and internet retailer of entertainment products in the Nordic region.

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 Markets Act. 

This information was released for publication at 17.30 CET on 26 February 2010.