MTG appoints new President & CEO

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international
entertainment broadcasting group, today announced the appointment of Jørgen
 Madsen as Group President and CEO with effect from 15 September 2012. The
appointment follows the resignation of Hans-Holger Albrecht, who will leave MTG
in September to become President and CEO of Millicom International Cellular S.A.
(‘Millicom’), the Nasdaq OMX listed global telecommunications group.
Jørgen Madsen has been a member of the Group’s executive management team since
2000 and was appointed as Executive Vice President of MTG’s Nordic Broadcasting
operations in October 2011, after having served as CEO of the Group’s Danish
operations and Group Head of Sport since 2002. Jørgen was also Chairman of the
Board of TV Prima in the Czech Republic between January 2008 and October 2011,
and was responsible for overseeing the Group’s Hungarian operations from 2010 to
2011. Jørgen joined MTG, then a subsidiary of Investment AB Kinnevik
(‘Kinnevik’), in 1994 and held various positions including Head of Sponsorship
for TV3, Head of Viasat Sport in Denmark and Head of Viasat Sport for the Nordic
region.

Hans-Holger Albrecht has served as MTG President and CEO since August 2000,
prior to which he was Chief Operating Officer of MTG from May 2000. Hans-Holger
joined the Group in 1997 and held various positions including Head of the
Group’s Pay-TV operations and then President of Viasat Broadcasting. Hans-Holger
has been co-Chairman of the Board of Directors of CTC Media, Inc., of which MTG
is the largest shareholder, since 2003 and will continue in this role. He is
also a member of the Board of Directors of Millicom, from which he will step
down with immediate effect, and of the International Academy of Television Arts
& Sciences.

David Chance, Chairman of MTG’s Board of Directors, commented: “I would like to
welcome Jørgen to his new role within MTG. He has proven himself over many years
at MTG to be an inspirational leader and excellent manager of a number of our
operations, as well as a valued member of the Group’s senior management team. He
takes over at a key time in the Group’s development as MTG pioneers new
broadcasting technologies and expands into new markets. Continuity is critical
to the Group’s ongoing success, which is why succession planning is part and
parcel of our daily work, and has enabled us to promote such a strong internal
candidate into this role. The Board and I look forward to working with Jørgen
going forward.”

“The Board and I would also like to thank Hans-Holger for his huge contribution
to the development and expansion of MTG over the past almost 12 years, as one of
the longest serving and most successful CEOs in the industry. He has been
instrumental in the Group’s rapid growth and the creation of an industry leading
broadcaster with a unique geographical reach, balanced mix of pay and free-TV
revenues, and strong financial position. Under his leadership, MTG’s sales have
tripled since 2000 to SEK 13.5 billion in 2011, while the Group’s market
capitalisation has increased to over SEK 21 billion with a low net debt level,
and an additional SEK 7 billion has been distributed to shareholders in the form
of equity or cash dividends and share buy-backs. Hans-Holger has not only
managed the business through considerable change, but also created a lot of that
change through a clear and accurate vision of the Group’s future potential. We
wish him well at Millicom.”

Jørgen Madsen commented: “I am excited by my new role and grateful to the Board
for this opportunity. MTG is a great company with a strong culture and tradition
of constant innovation. Our channels are now available in 36 countries spanning
four continents, which is quite a platform on which to build, as we focus on
further enhancing our content offering, embracing new technologies, and
expanding into new markets.”

Hans-Holger Albrecht commented: “I have greatly enjoyed my time at MTG and feel
privileged to have worked with so many talented and dedicated people down the
years. We benefitted from setting a clear course with long term goals and have
remained true to that, which has enabled us to consistently outperform and
create sustainable value. I am proud of what we have achieved as a team and of
the building blocks we have put in place. MTG is a fantastic business and I wish
the Group and all of my colleagues the very best for the future.”

***
For further information, please visit www.mtg.se or contact:

David Chance, Chairman of the Board of Directors
Hans-Holger Albrecht, Chief Executive Officer
Tel:                               +46 (0) 8 562 000 50

Matthew Hooper, Head of Corporate Communications & Planning
Tel:                               +44 (0) 7768 440 414
Email:                           investor.relations@mtg.se / press@mtg.se
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 31 July
2012.