CTC Media Board appointments


MTG has designated two new members to the Board of Directors of CTC Media, Inc,
of which MTG owns 37.9%. Natasha Tsukanova and Kaj Gradevik have today been
appointed to the CTC Media Board in place of MTG CEO Jørgen Madsen Lindemann and
MTG CFO Mathias Hermansson. Natasha has also been elected as Co-Chairman of CTC
Media in place of Jørgen Madsen Lindemann. The CTC Media stockholders’ agreement
enables MTG to designate three of the nine members of the CTC Media Board and
the Co-Chairman. Irina Gofman is the third MTG designated member and has served
on the Board since 2008.
“MTG is making these changes because the Board of CTC Media has now established
the process and put in place the advisory team to enable CTC Media to review and
decide on the best way to comply with the changes in the Russian Mass Media Law.
MTG has identified the best candidates with the required skills and designated
them to work with the Board of CTC Media on the best possible outcome for CTC
Media stockholders in the current situation.”

Jørgen Madsen Lindemann, MTG President and CEO

Natasha Tsukanova is the Managing Director of XENON, the Moscow-based financial
advisory firm that she founded in 2009 after a distinguished career at J.P.
Morgan, including latterly as Head of Investment Banking for Russia / CIS.
Natasha has played a leading role in structuring a number of the highest profile
emerging markets transactions, including the IPOs of Rosneft and Eurasia
Drilling Company; the restructuring of the Russian electric power industry; the
privatization of RAO UES; ONGC's acquisition of a stake in the Sakhalin-1 off
-shore development; and the acquisition of a 50% stake in the Etinde oil and gas
concession in Cameroon by a consortium of LUKOIL and New Age. Natasha and XENON
won Finance Monthly’s 2012 Deal Maker of the Year Award for Russia for bringing
together an international consortium of private equity investors to acquire a
26.43% stake in Russian power producer OJSC ENEL OGK-5. Natasha is also a member
of the Executive Board of Kerogen Capital, the Asia-based $1bn oil and gas
private equity fund. She graduated in Economics from Moscow State University, is
a Harvard scholar and holds an MBA from INSEAD.

Kaj Gradevik worked for MTG between 2001 and 2010, including as Head of M&A and
Business Development, and served as a non-executive Director of CTC Media
between 2002 and 2009. Kaj currently manages his own financial advisory and
consultancy firm and previously worked as Vice President and Head of M&A for
TeliaSonera, Europe’s fifth largest telecommunications company, from 2010 to
2011. Kaj started his career as a diplomat with the Swedish Ministry for Foreign
Affairs and in the M&A department of Merrill Lynch International in London. Kaj
has advised on and managed a wide range of corporate transactions, including the
$750mn sale of Tele2 Norway to TeliaSonera; the $3.5bn sale of Tele2 Russia to
VTB Capital; TeliaSonera’s $1.5bn acquisition of 49% of Kcell from
Kazakhtelecom; and MTG’s initial investment in CTC Media. Kaj graduated with a
Masters’ degree in Political Sciences and major in Economics from Uppsala
University, and is a fluent Russian speaker.
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MTG (Modern Times Group MTG AB (publ.)) is an international entertainment group.
Our operations span six continents and include TV channels and platforms, online
services, content production businesses and radio stations. We are also the
largest shareholder in CTC Media, which is Russia’s leading independent media
company. Our shares are listed on Nasdaq OMX Stockholm (‘MTGA’ and ‘MTGB’).

The information in this announcement is that which MTG is required to disclose
according to the Securities Market Act and/or the Financial Instruments Trading
Act, and was released at 11.40 CET on 5 March 2015.

Attachments

03053366.pdf