MTG Makes Management Changes

STOCKHOLM, November 8: The Modern Times Group (MTG)
announced several new appointments among senior management, as well as a
reorganization of its Central and Eastern European operations.

Manfred Aronsson has been appointed CEO of MTG Sweden. He will
be responsible for free-TV, pay-TV and radio in Sweden, as well as free-TV and
radio in the Baltic Region. He is returning to MTG after 12 years with SBS,
where he most recently served as chairman of Kanal 5 and Canal Plus. He will
assume his position at the start of 2008.

Anders Nilsson and Andrew Barron will serve as co-COOs of
MTG. Nilsson, formerly CEO of MTG Sweden, will also be CEO of MTG’s online
businesses, including CDON and MTG New Media. He will work with Barron on
strategic planning and corporate development. Barron will also continue to
serve as head of Viasat Broadcasting’s pay-TV operations.

Ulrik Bengtsson has been appointed as CEO of Pay-TV Emerging
Markets. This is a newly created position in which he will oversee the mini-pay
business, which is comprised of eight channels in 20 countries. Bengtsson
currently serves as CEO of Viasat in Sweden.

Laurence Miall-d'Aout was named CEO of Free-TV Emerging
Markets, which includes the Viasat3 and TV6 channels in Hungary, TV3 in
Slovenia, and BMGL’s Diema family of channels in Bulgaria.

As part of the broadcasting group’s reorganizing of its
Central and Eastern European operations, Russian television network DTV will
report directly to Hans-Holger Albrecht, the president and CEO of MTG.
Additionally, Jørgen Madsen, the CEO of MTG Denmark, will oversee the group’s
interest in Czech TV network TV Prima.

The current CEO of MTG’s Central and Eastern European
operations, Yggers Mortensen, is to leave his position at the end of the year
after 13 years with the company.

“The appointment of two COOs and the creation of two new
senior management positions for the emerging markets demonstrates the rapid
development of our business, and our position as the second largest broadcaster
in Europe by geographical footprint,” Albrecht said. “We are committed to
continuing this fast development in both existing and new markets, and have
made these changes precisely to facilitate such ongoing growth.”

He added: “We would also like to thank Yggers Mortensen for
his outstanding dedication and considerable contribution to MTG’s success. As
CEO of our Central and Eastern European business, Yggers has been instrumental
in establishing our presence across 20 countries in the region, and his energy
and enthusiasm have been key to what we have been able to achieve."

—By Ned Berke