MTG COMPLETES ACQUISITION OF 50% OF BALKAN MEDIA GROUP

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment broadcasting group, today announced that it has completed the acquisition of 50% of Balkan Media Group Limited (‘BMGL’). As announced on 16 February 2007, MTG now has management control of the business and will consolidate its results with effect from today. The results for BMGL will be reported within the ‘Central & East European Pay-TV DTH platform & channels’ line of the MTG quarterly financial reporting matrix. BMGL owns six TV channels in Bulgaria which generate the majority of their revenues from subscription sales, and a terrestrial TV broadcaster in Macedonia.

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

Hans-Holger Albrecht, President & CEO
tel: +46 (0) 8 562 000 50
Matthew Hooper, Corporate Communications
tel: +44 (0) 20 7321 5010