Issue and repurchase of Class C shares

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 240,000 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 on 18 May 2011.

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 865,000 Class C shares, following prior issues
of Class C shares according to the terms of the 2010, 2009 and 2008
incentive programmes approved by the respective MTG Annual General
Meetings.

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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:
Jacob Waern
Tel: +46 (0) 736 992 991
Email: press@mtg.se (press@mtg.se)