CTC Media announces intention to pay dividends in 2012

CTC Media announces intention to pay dividends in 2012

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international
entertainment broadcasting group, notes that CTC Media, Inc. (‘CTC Media’) has
today declared a cash dividend of USD 0.13 per share (or approximately USD 21
million in aggregate), to be paid on or about 30 March 2012 to shareholders of
record as of 15 March 2012. CTC Media has also announced that it intends to pay
aggregate cash dividends of USD 80 million in 2012.

CTC Media has stated that its current intention is to declare and pay further
dividends in the remaining quarters of 2012 but that there can be no assurance
that such additional dividends will be declared and paid, as all dividend
payments are discretionary and subject to consideration of factors such as CTC
Media’s earnings, financial position and capital allocation requirements as a
growth company.

MTG holds 60,008,800 CTC Media shares, which together represent 38.1% of the
total issued and outstanding number of CTC Media shares. The Group therefore
expects to receive approximately USD 8 million in cash dividends from CTC Media
on or about 30 March 2012, and total dividends of approximately USD 31 million
for the full year 2012.

CTC Media paid out a total of USD 130 million in cash dividends in 2011 in four
quarterly instalments, and the Group therefore received a total of USD 49
million in dividends during the year. The lower level of anticipated payments in
2012 reflects the increased investments that CTC Media is making and plans to
make in programming and in the overall development of the business during 2012.

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

Hans-Holger Albrecht, Chief Executive Officer
Tel:                               +46 (0) 8 562 000 50

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