MTG's shareholders' agreement with Telcrest and CTC Media comes into force

MTG's shareholders' agreement with Telcrest and CTC Media comes into
force

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the
international entertainment broadcasting group, has today noted the
Schedule 13D filing made by Alfa CTC Media Holdings (‘Alfa'), with the
US Securities and Exchange Commission. The filing states that the sale
of Alfa's 39,548,896 shares in CTC Media, Inc. (‘CTC Media'), or 25.2%
of the issued and outstanding shares in the company, to Telcrest
Investments Limited (‘Telcrest'), has closed. The new shareholders'
agreement, which the Group signed with CTC Media and Telcrest on 20 May,
2011, has therefore come into force.

MTG waived its right to purchase Alfa's 25.2% stake in CTC Media on 20
May, 2011, and signed a new shareholders' agreement with Telcrest and
CTC Media to govern the relationship between the parties. The new
agreement is valid until 6 June 2015 and is similar to the previous
agreement between MTG Russia, Alfa and CTC Media.

The Schedule 13D filing can be found via the following link:

http://www.sec.gov/Archives/edgar/data/1354513/000119312511156277/dsc13d
a.htm (http://www.sec.gov/Archives/edgar/data/1354513/000119312511156277
/dsc13da.htm)

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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)