Central European Media Enterprises Begins Trading on the Prague Stock Exchange

Central European Media Enterprises Begins Trading on the Prague Stock Exchange

HAMILTON, Bermuda, June 27 /PRNewswire-FirstCall/ -- Central European Media Enterprises Ltd. ("CME") (Nasdaq/Prague Stock Exchange: CETV) announced today that trading in its shares of Class A Common Stock began today on the Main Market of the Prague Stock Exchange ("PSE"). The shares are traded in the top-tier SPAD segment for the most liquid equities on the PSE. CME's shares are expected to become a part of both major PSE indices PX50 and PX-D as of July 1, 2005. JPMorgan acted as financial advisor to CME during the listing process and Ceska sporitelna as local listing agent.

"We are proud that CME has chosen the Prague Stock Exchange as the entry point for European investors even though CME has also been active in other countries of the region. CME's profile brings a market segment that has not been represented at the PSE yet. That is why it will make an interesting alternative for investors", said Petr Koblic, Chairman and General Director of the Prague Stock Exchange.

"We are delighted the Prague Stock Exchange has opened its doors to us. Securing a listing in Central Europe has been a key element of our strategy to expand and diversify our investor base. With this listing, investors in the Czech Republic as well as those focused on Central and Eastern Europe have more opportunity to participate as owners of CME. Our presence on the PSE will also provide financial institutions and investors operating in the region an introduction to CME and create potential opportunities for cooperation in the future", said Michael Garin, Chief Executive Officer of CME.

Forward-Looking and Cautionary Statements

This press release contains forward-looking statements, including statements regarding the expected impact of the listing on the Prague Stock Exchange on the investor base of CME and opportunities for future cooperation. 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 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.

CME is a TV broadcasting company with leading stations in six Central and Eastern European countries reaching an aggregate of approximately 90 million people. The Company's television stations are located in Croatia (Nova TV), Czech Republic (TV Nova), Romania (PRO TV, Acasa, PRO Cinema), Slovakia (Markiza), Slovenia (POP TV, Kanal A) and Ukraine (Studio 1+1). CME is traded on the Nasdaq and the Prague Stock Exchange under the ticker symbol "CETV".

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

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

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

Source: Central European Media Enterprises Ltd.

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

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

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