Nomination Committee proposes election of new MTG Board Director

Nomination Committee proposes election of new MTG Board Director

In advance of the Modern Times Group MTG AB (publ.) (“MTG” or “the
Group”) Annual General Meeting of shareholders to be held on 18 May
2011, the MTG Nomination Committee, comprised of representatives of AMF,
Investment AB Kinnevik, Lannebo Fonder and SEB Fonder, proposes the
re-election of David Chance, Simon Duffy, Alexander Izosimov, Mia
Brunell Livfors, Michael Lynton, David Marcus and Cristina Stenbeck as
non-executive Board Directors. The committee also proposes the election
of Lorenzo Grabau as a new non-executive Board Director. Furthermore,
the Nomination Committee proposes the re-election of David Chance as
Chairman of the Board of Directors.

Lorenzo Grabau has over twenty years of global investment banking
experience and has advised on a broad range of projects and transactions
in the media sector. He was named a Managing Director of Goldman Sachs
in 1999, and his responsibilities have included building the bank's
relationships with the largest family-led enterprises in Europe.

Mr. Grabau worked at Goldman Sachs until April 2011, having joined the
Investment Banking Division in London in 1994. His career at Goldman
Sachs has included roles within the Investment Banking and Investment
Management Divisions. He was responsible for building the bank's
European consumer, retail and luxury goods practice, and its European
media sector business. Prior to joining Goldman Sachs, Mr. Grabau worked
for four years as an Analyst and Associate at Merrill Lynch in London
and New York. He graduated from Universita´ degli Studi di Roma, La
Sapienza in Italy. 

Nomination Committee Chairman Cristina Stenbeck commented: “The
Nomination Committee believes that the election of Lorenzo Grabau would
further strengthen both the financial and media sector expertise on the
Board. He is familiar with MTG's successful strategy and development as
a leading international broadcast media company from his work with MTG's
management and Board over the past ten years. We are pleased to be able
to nominate such a highly qualified individual for election to MTG's
Board.”

***

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

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

Investor & Analyst Enquiries:
Jacob Waern / Matthew Hooper
Tel:                              +46 (0) 736 99 29 91 / +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)