MTG TO RECOGNISE SEK 3.4 BILLION OF ONE-OFF COSTS

MTG TO RECOGNISE SEK 3.4 BILLION OF ONE-OFF COSTS 

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the international
entertainment broadcasting group, today announced that it will recognise
approximately SEK 3,361 million of one-off costs in its results for the fourth
quarter and full year 2009. These costs primarily relate to the impairment of
the Group's Bulgarian broadcasting assets. The impairment reflects the
deterioration in the economic and financial climate and the challenging
advertising market conditions, and follows the recent completion of the Group's
annual asset impairment test. 

The one-off costs will be included in the Group's results for the fourth quarter
and twelve months ended 31 December 2009. The costs will be reported as a
separate line item above the operating profit (EBIT) line in the Group's
consolidated income statements, and as an adjustment to intangible assets on the
Group's consolidated balance sheets. 

EUR 296 million (approximately SEK 3,151 million) of the one-off costs relate to
the impairment of the goodwill arising from the Group's acquisition of 100% of
Nova Televizia in Bulgaria for EUR 620 million in 2008. 

The Group will also recognise approximately SEK 209 million of one-off costs
relating to a reduction in the goodwill balances of the Group's Slovenian
free-TV broadcasting operations; one-off costs for the Playahead.com online
social networking business; and the write-down of programming-related assets by
the Group's Baltic free-TV broadcasting operations.

Hans-Holger Albrecht, President and CEO of MTG, commented: “Our Bulgarian
business has performed above expectations in terms of increasing its audience
and market shares during the year. However, the adverse changes in the operating
environment have delayed the anticipated development of the business, and we
have now adjusted the value of our assets accordingly. These impairment charges
therefore primarily reflect the sharp deterioration in the economic and
financial climate over the last year, which has negatively impacted advertising
buying and asset pricing. The write-downs do not affect the Group's financial
strength.”

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

Hans-Holger Albrecht, President & CEO
Tel:   +46 (0) 8 562 000 50
 
Investor & Analyst Enquiries:
Matthew Hooper: 	+44 (0) 7768 440 414
Oscar Hyléen	+46 (0) 707 62 00 24
Email:   		investor.relations@mtg.se 
                                                                                
   
Media Enquiries:
Bert Willborg	+44 (0) 791 2280 850
Email:   		bert.willborg@mtg.se   	

Modern Times Group is a leading international entertainment broadcasting group
with the second largest geographical broadcast footprint in Europe. MTG's Viasat
Broadcasting is the largest free-TV and satellite premium pay-TV operator in
Scandinavia and the Baltics, and also operates free-TV channels in the Czech
Republic, Hungary, Slovenia Bulgaria, Macedonia and Ghana. MTG's TV assets are
broadcast in a total of 30 countries and have 125 million viewers. MTG is also
the major shareholder in Russia's largest independent television broadcaster
(CTC Media - Nasdaq: CTCM), and the number one commercial radio operator in the
Nordic and Baltic regions.

Modern Times Group MTG AB Class A and B shares are listed on Nasdaq OMX
Stockholm's Large Cap market (‘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 18
December 2009.