RMG.L Regulatory News (RMG)

11 Nov 2009 09:47

ANNOUNCEMENT BY PROF-MEDIA

Rambler Media Limited (RMG.LN) ("Rambler Media" or the "Company"), the operator of one of Russia's most popular internet brands, notes the following announcement made today by Prof-Media, the Company's majority shareholder. Rambler Media will make a further announcement subsequent to the result of Prof Media's reverse accelerated bookbuild.

"PROFMEDIA ANNOUNCES MARKETPURCHASE OF RAMBLER MEDIA SHARES"

"The ProfMedia group acting through its holding company PM Invest Company Limited ("ProfMedia") today launches a reverse accelerated bookbuild ("reverse ABB") to purchase shares in Rambler Media Limited (RMG.LN, "Rambler"), the Russian based internet media and services group.

Following acquisition of majority stake in December 2006, ProfMedia became a majority shareholder of Rambler and currently owns 54.54% of its shares. ProfMedia is one of the largest media and entertainment groups in Russia with internet activities being one of its key lines of business. It is ProfMedia's intention to explore this business area through further consolidation of Rambler. ProfMedia believes that both it and Rambler will benefit from strategic advantages resulting from consolidation.

Following the completion of the reverse ABB, ProfMedia may consider de-listing Rambler from the AIM Market of the London Stock Exchange ("AIM"). Should Rambler delist, the remaining Rambler's shareholders will become minority shareholders in a privately controlled unlisted company. This would significantly reduce the liquidity and marketability of Rambler's shares. Therefore, ProfMedia strongly encourages shareholders to participate in the reverse ABB.

ING is acting as the Company's broker for the purchase of Rambler's shares.

For further information, please visit www.profmedia.ru/eng or contact:

ABOUT PROFMEDIA

ProfMedia is one of the largest media and entertainment groups in Russia with leading positions in quality entertainment. It attracts premium audiences in all key segments of Russian media market. ProfMedia owns and operates a number of well-known consumer brands, including: TV3, MTV-Russia, VH1-Russia and 2x2 in TV broadcasting; Avtoradio, NRJ, Humor FM and Radio Alla in radio; Central Partnership in film production and distribution; Cinema Park in theatrical film distribution; Afisha in magazine publishing; www.rambler.ru, www.lenta.ru, www.afisha.ru, www.101.ru and other brands in Internet.

For more information on ProfMedia, visit our corporate website at www.profmedia.ru/eng."

For further information, please visit www.ramblermedia.com or contact:

Rambler MediaKonstantin VorontsovMarina AnisimovaTel. +7 495 745 3619info@ramblermedia.comorStrand Hanson LimitedStuart FaulknerLiam BuswellTel. +44 (0) 20 7409 3494orShared Value LimitedNicolas DuperrierMark WalterTel. +44 (0) 20 7321 5010rambler@sharedvalue.net

ABOUT RAMBLER MEDIA

Rambler Media is an internet media and services group which operates or has interests in leading Russian language internet brands including the Russian open portal 'Rambler.ru', on-line newspaper 'Lenta.ru', product comparison website 'Price.ru', internet catalogue and navigation system 'Top 100' and contextual advertising company 'Begun'.

Rambler Media's shares are traded on AIM, the junior market of the London Stock Exchange under the symbol 'RMG'.

For more information on Rambler Media, visit our corporate website at www.ramblermedia.com.

Copyright Business Wire 2009