MTG Nomination Committee proposals regarding election of Board of Directors

| Source: Modern Times Group MTG AB
In advance of the Modern Times Group MTG AB (publ.) (“MTG” or “the Group”)
Annual General Meeting of shareholders (‘AGM’) to be held on Tuesday 14 May
2013, the MTG Nomination Committee, which comprises representatives of the
largest MTG shareholders, proposes the re-election of David Chance, Mia Brunell
Livfors, Blake Chandlee, Simon Duffy, Lorenzo Grabau and Alexander Izosimov as
non-executive Board Directors, and the election of Michelle Guthrie as a new non
-executive Board Director. The Nomination Committee also proposes the re
-election of David Chance as Chairman of the Board of Directors. Cristina
Stenbeck and Michael Lynton have declined re-election as non-executive Board
Michelle Guthrie has 20 years’ experience in the media and entertainment
industry. Her current role is Google’s Managing Director, Partner Business
Solutions for Japan and Asia Pacific, with responsibility for managing Google’s
partner monetisation activities across the region. Michelle was previously a
Managing Director for the Hong Kong office of global private equity firm
Providence Equity between 2007 and 2009, and was a Senior Advisor there between
2009 and 2010. She was the Chief Executive Officer of STAR Group Limited, a
wholly-owned subsidiary of News Corporation, which is Asia’s leading media and
entertainment company based in Hong Kong. Michelle also worked in legal and
business development roles for FOXTEL in Sydney and News International / BSkyB
in London.

Michelle has served on the Boards of a number of companies, including NASDAQ
-listed technology company VeriSign, Inc. and various STAR joint venture
companies including Balaji, ESPN STAR Sports, Hathway, China Network Systems,
ANTV and Tata Sky. Michelle is a graduate of Sydney University in Australia.

Cristina Stenbeck and Michael Lynton have notified the Nomination Committee of
their intention not to seek re-election as Directors at this year’s AGM.
Cristina Stenbeck joined the Board as a non-Executive Director in 2003 and is
Chairman of the MTG Nomination Committee. Michael Lynton joined the Board as a
non-Executive Director in 2009 and is a member of the Board of Directors’ Audit
Committee. It is intended that Michael Lynton be appointed as a senior adviser
to the Board of Directors following the AGM.

Nomination Committee Chairman Cristina Stenbeck commented: “The Nomination
Committee’s work is all about identifying and attracting the most professional,
experienced, and relevant individuals, who can add value to the work of the
Board from a number of critical perspectives. MTG is one of Europe’s leading
international entertainment companies and operates across four continents. The
Nomination Committee believes that the election of Michelle Guthrie will further
strengthen what is already a highly qualified, knowledgeable and skilled Board,
as the Group seeks further growth and expansion opportunities in its target
territories and businesses.”

“The Nomination Committee would like to thank Michael Lynton for his
contribution to the development of MTG over the last 4 years, and is pleased
that he will remain involved in the work of the Board through his future senior
advisory role.”

“Personally, I have decided not to seek re-election to the MTG Board. I will
focus my efforts on my role as Chairman of Kinnevik and the further development
and expansion of Kinnevik’s core holdings and new high growth ventures. Kinnevik
is MTG’s largest shareholder and is well represented on the Board of MTG. I do
intend to continue to represent Kinnevik in the work of the Nomination
Committee, should the AGM resolve to form the committee as proposed.”

The Nomination Committee comprises Cristina Stenbeck, Investment AB Kinnevik;
Thomas Ehlin, Nordea Investment Funds; Johan Ståhl, Lannebo Fonder; and Björn
Lind, AMF Försäkring och Fonder, together representing more than 55% of the
votes in MTG.

For further information, please visit or contact:

Cristina Stenbeck, Chairman of the Nomination Committee
Tel:                               +46 (0) 8 562 000 00

Matthew Hooper, Executive Vice President of Corporate Communications
Tel:                               +44 (0) 7768 440 414
Email:                  /
Modern Times Group (MTG) is an international entertainment broadcasting group
with operations that span four continents and include free-TV, pay-TV, radio and
content production businesses. MTG’s Viasat Broadcasting operates free-TV and
pay-TV channels, which are available on Viasat’s own satellite platforms and
third party networks, and also distributes TV content over the internet. MTG is
also the largest shareholder in CTC Media, which is Russia’s leading independent
television broadcaster.

Modern Times Group is a growth company and generated record net sales of SEK
13.5 billion in 2011. MTG’s Class A and B shares are listed on Nasdaq OMX
Stockholm’s Large Cap index under the symbols ‘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 9 April