Central European Media Enterprises Announces Sale of 4,700,000 Shares

Central European Media Enterprises Announces Sale of 4,700,000 Shares

HAMILTON, Bermuda, April 28 /PRNewswire-FirstCall/ -- Central European Media Enterprises Ltd. ("CME") (NASDAQ:CETV) today announced the pricing of its previously announced public offering of 4,700,000 of its Class A Common Shares at a price of $44.91 per share. CME has granted the underwriters an option to purchase up to 705,000 additional shares. The offering is expected to close May 5.

J.P. Morgan Securities Ltd., Lehman Brothers Inc. and ING Bank N.V., London Branch have agreed to act as joint book-running managers. Copies of the final prospectus may be obtained from Lehman Brothers Inc, c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, N.Y., 11717. Email: montica_castillo@adp.com or sabina_neat@adp.com. Fax: 1 646 254 7268.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.

Forward-Looking and Cautionary Statements

This press release contains forward-looking statements, including statements regarding the expected closing of the offering of our shares. For these statements and all other forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or are otherwise beyond our control and some of which might not even be anticipated. Future events and actual results, affecting our strategic investment plan as well as our financial position, results of operations and cash flows, could differ materially from those described in or contemplated by the forward-looking statements. Important factors that contribute to such risks include, but are not limited to, the receipt of necessary approvals, the rate of development of advertising markets in countries where we operate, general market and economic conditions in these countries, the US and Western Europe, the renewals of broadcasting licenses, the general regulatory environment and compliance, the ability to acquire programming and the ability to attract audiences.

Central European Media Enterprises Ltd. (CME) is a television broadcasting company with leading stations in five Central and Eastern European countries reaching an aggregate of approximately 75 million people. The Company's television stations are located in Croatia (Nova TV), Romania (PRO TV, Acasa, PRO Cinema), Slovakia (Markiza), Slovenia (POP TV, Kanal A) and Ukraine (Studio 1+1). CME is traded on the NASDAQ under the ticker symbol "CETV".

For additional information, please visit http://www.cetv-net.com/ or contact:

United States: Jonathan Lesko/Michael Smargiassi (Investors) Brainerd Communicators, Inc. +1 212-986-6667

United Kingdom: Wallace Macmillan (Investors) Vice President Finance &Chief Financial Officer +44-20-7430-5430

Source: Central European Media Enterprises Ltd.

CONTACT: United States, Jonathan Lesko or Michael Smargiassi (Investors), both of Brainerd Communicators, Inc., +1-212-986-6667; or United Kingdom, Wallace Macmillan (Investors), Vice President Finance &Chief Financial Officer of Central European Media Enterprises Ltd., +44-20-7430-5430

Web site: http://www.cetv-net.com/

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