MTG: CHANGE IN NUMBER OF SHARES AND VOTING RIGHTS

Modern Times Group MTG AB (publ.) (MTG´ or the Group´), the international entertainment broadcasting group, today announced the issue of 13,333 new Class B shares as a result of the exercising of warrants in relation to the 2005 incentive programme during September. The total number of Class A shares remains unchanged at 15,091,426, whilst the total number of Class B shares has increased from 50,785,616 to 50,798,949 in September. The total number of outstanding shares is now therefore 65,890,375 shares.

When including the 480,000 newly issued MTG Class C shares held by the Group, the total number of issued shares now amounts to 66,370,375 shares. The Class C shares were issued in accordance with the Group’s performance-based incentive programme, which was approved by the Annual General Meeting of shareholders held on 14 May 2008. Class C shareholders are not entitled to dividend payments.

The total number of voting rights has consequently increased from 201,699,876 to 202,193,209 and the total share capital now amounts to SEK 331,851,875. Each Class A share holds ten voting rights and each Class B and Class C share is entitled to one voting right.

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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 / Oscar Hyléen
Tel: +44 (0) 7768 440 414 / +46 (0) 707 620 024
Email: investor.relations@mtg.se

Press Enquiries
Bert Willborg
Tel: +44 (0) 791 2280 850
Email: bert.willborg@mtg.se