Reclassification of MTG Class C shares into Class B shares

Reclassification of MTG Class C shares into Class B shares

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the
international entertainment broadcasting group, today announced that
440,000 MTG Class C shares have been reclassified into MTG Class B
shares in April. The total number of issued MTG Class B shares has
therefore increased from 59,931,272 to 60,371,272 and the total number
of issued MTG Class C shares has decreased from 1,065,000 to 625,000.

The Class C shares have been converted into Class B shares for the
purposes of providing shares in accordance to the terms of the Group's
2008 long term performance based incentive programme. The converted
shares will be held by MTG until they are awarded to the participants.

The total number of issued MTG shares remains unchanged at 67,407,124
and the total number of outstanding MTG shares remains unchanged at
66,342,124. Each Class A share has ten voting rights and each Class B
and Class C share carries one voting right. Class C shareholders are not
entitled to dividend payments. The total number of voting rights
therefore also remains unchanged at 125,104,792, as does the total share
capital at SEK 337,035,620.

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For further information, please visit www.mtg.se (http://www.mtg.se/) or
contact:

Hans-Holger Albrecht, President & CEO
Tel: 46 (0) 8 562 000 50 

Investor & Analyst Enquiries:
Jacob Waern / Matthew Hooper
Tel:  46 (0) 736 992 991 / 44 (0) 7768 440 414
Email: investor.relations@mtg.se (investor.relations@mtg.se) 

Media Enquiries:
Bert Willborg
Tel: 44 (0) 791 2280 850
Email: bert.willborg@mtg.se (bert.willborg@mtg.se)