CTC Media Announces Results of 2010 Annual

Stockholders Meeting and Declares Further Dividend
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CTC Media Announces Results of 2010 Annual Stockholders Meeting and Declares Further Dividend

LONDON, April 23, 2010/PRNewswire-FirstCall/ -- CTC Media, Inc. (NASDAQ: CTCM), Russia's leading independent
media company, announces that all resolutions proposed at CTC Media's 2010
Annual Stockholders Meeting, held yesterday, have been passed.

Proposal One - Election of Directors

The following three Directors were reelected to serve
three-year terms until CTC Media's annual meeting of stockholders in 2013 and
until their respective successors are duly elected and qualified:

Director Number of Number of Broker
Shares For Shares Withheld Non-Votes

Mathias 141,210,900 483,451 0
Hermansson
Lev Khasis 136,751,474 4,942,877 0
Werner Klatten 136,797,288 4,897,063 0

The current composition of the CTC Media Board of Directors is as
follows:

Hans-Holger Albrecht (Co-Chairman of the Board, current term
expires 2012)
Peter Aven (Co-Chairman of the Board, current term expires 2012)
Tamjid Basunia (current term expires 2011)
Charles J. Burdick (current term expires 2012)
Irina Gofman (current term expires 2011)
Mathias Hermansson (current term expires 2013)
Lev Khasis (current term expires 2013)
Werner Klatten (current term expires 2013)
Oleg Sysuev (current term expires 2011)

Proposal Two - Ratification of Appointment of Independent Registered
Public Accounting Firm

Regarding the proposal to ratify the selection by the Audit
Committee of Ernst & Young LLC as CTC Media's independent registered public
accounting firm for the year ending December 31, 2010, 141,586,150 shares
voted for, 107,948 shares voted against, and 253 shares abstained from
voting.

Dividends

As previously announced in a press release issued on February
26, 2010, CTC Media's Board of Directors announced its intention to pay an
aggregate of $40 million in cash dividends in 2010. The first installment of
$0.065 per outstanding share of common stock, or $10 million in total, was
paid on March 31, 2010. The Board also announced its intention to pay the
three remaining $10 million installments in June, September and December of
2010.

The Board of Directors has accordingly declared a further
dividend of $0.065 per outstanding share of common stock, or approximately
$10 million in total. The record date for this second installment is June 1,
2010 and the payment date is June 30, 2010.

Although it is the Board's current intention to declare and
pay the two future installments in 2010, there can be no assurance that such
installments will in fact be declared and paid. Any such declaration is at
the discretion of the Board and will depend upon factors such as CTC Media's
earnings, financial position and cash requirements.

About CTC Media, Inc.

CTC Media is a leading independent media company in Russia,
with operations throughout Russia and elsewhere in the CIS. It operates three
free-to-air television networks in Russia - CTC, Domashny and DTV, Channel 31
in Kazakhstan and TV companies in Uzbekistan and Moldova, with a combined
potential audience of over 180 million people. In 2009, CTC Media launched
the international version of CTC in North America. CTC Media also owns two TV
content production companies, Costafilm and Soho Media. The Company's common
stock is traded on The NASDAQ Global Select Market under the symbol "CTCM".
For more information on CTC Media, please visit http://www.ctcmedia.ru.

For further information, please visit http://www.ctcmedia.ru or contact:

CTC Media, Inc.
Investor Relations
Ekaterina Ostrova
Irina Klimova
Tel: + 7-495-783-3650
ir@ctcmedia.ru

Media Relations
Ekaterina Osadchaya or
Angelika Larionova
Tel: +7-495-785-6333
pr@ctcmedia.ru

Source: CTC Media, Inc

CTC Media, Inc., Investor Relations, Ekaterina Ostrova, Irina Klimova, Tel: +7-495-783-3650, ir@ctcmedia.ru, Media Relations, Ekaterina Osadchaya or Angelika Larionova, Tel: +7-495-785-6333, pr@ctcmedia.ru

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