RMG.L Regulatory News (RMG)

20 Jun 2008 07:00

RAMBLER MEDIA ACQUIRES REMAINING 49% STAKE IN PRICE.RU Rambler Media Ltd. ("Rambler"), operating one of Russia's most popular internetbrands, has exchanged contracts for the acquisition of the remaining 49% ofPrice Express LLC ("Price Express"), a leading Russian product comparisoninternet service. Rambler already holds a 51% stake in Price Express, which itacquired in January 2006. The transaction is expected to be completed in July2008 upon regulatory approval. Price Express operates Price.ru, which provides price and product comparisontools designed to help online shoppers make the most cost-effective buyingdecisions. Price Express was one of the first online comparison companies to belaunched in Russia when it was set up in 1997. Price.ru is currently the secondlargest price comparison site in Russia and generated revenues of approximatelyUS$3.2 million in 2007. Price.ru will continue to be operated as an independentbrand, but will be increasingly integrated into Rambler's services. Mark Opzoomer, Chief Executive Officer of Rambler Media, commented: "Thedecision to increase our ownership in Price Express reflects our determinationto continue to rationalize our product portfolio by either consolidating ordivesting operations where we own less than 100%. This process will enable us tooptimize our legal structure while focusing on the best services for our usersand advertisers. Online comparison shopping and product searches have becomeincreasingly popular in Russia and we believe that owning 100% of Price Expresswill create more value for our shareholders." \* TFor further information, please visit www.ramblermedia.com or contact: Rambler Media Shared Value LimitedMark Opzoomer Nicolas DuperrierTel. +7 495 500 3826 Tel. +44 (0) 20 7321 5010 rambler@sharedvalue.net ING Wholesale BankingDaniel Friedman / Francis MooreTel. +44 (0) 20 7767 1000\* T ABOUT RAMBLER MEDIA Rambler Media is an internet media and services group which operates or hasinterests in leading Russian language internet brands including the originalRussian internet homepage and search engine 'Rambler.ru', on-line newspaper'Lenta.ru', product comparison website 'Price.ru', internet catalogue andnavigation system 'Top 100', instant messaging service 'Rambler-ICQ', digitaladvertising agency 'Index20' and contextual advertising company 'Begun'. RamblerMedia's shares are traded on AIM, the junior market of the London Stock Exchangeunder the symbol 'RMG'. For more information on Rambler Media, visit ourcorporate website at www.ramblermedia.com. Copyright Business Wire 2008