CME Hails Best-Ever Full-Year Results

HAMILTON, February 28:
Central European Media Enterprises (CME) released its fourth-quarter and
full-year results today, posting its highest-ever revenues, segment EBITDA and
operating income.

Net revenues for the year
increased 39 percent to $840 million, and operating income increased by $65.4
million to $206 million. Net income from continuing operations increased by
$63.3 million to $88.6 million, and fully diluted earnings per share in respect
of continuing operations increased $1.50 to $2.12. Segment EBITDA was up 46
percent to $319.7 million.

Net revenues for the
fourth quarter, meanwhile, increased 40 percent to $301 million. Operating
income for the quarter increased by $23.9 million to $97.8 million and net
income from continuing operations increased by $46.8 million to $73 million.
Fully diluted earnings per share increased by $1.07 to $1.71. Segment EBITDA
for the quarter was up 33 percent to $128.6 million.

Michael Garin, the CEO of
CME, said: "CME's incredible performance in 2007 made us one of the
fastest-growing multinational broadcasters in the world. From this impressive
base, we plan to more than double revenues within the next five years and for
Segment EBITDA to grow even faster—and this is before any
acquisitions. With strong growth
in our core TV business enhanced by our fast developing new-media activities and
rapid multichannel expansion, CME is well positioned to continue to deliver
outstanding value to shareholders."

Adrian Sarbu, the COO of
CME, added: "Our outstanding 2007 results are a springboard for our future
growth in all of our markets. In Ukraine our target is to be the leading
broadcaster within three years and to take full advantage of the significant
growth potential of our largest market."

Broadcast operation
revenues for the quarter rose 41 percent to $299.4 million, and non-broadcast
operation revenues rose 19 percent to $1.6 million. For the year, broadcast
operations gained 39 percent to $836.4 million, and non-broadcast was up 21
percent to $3.6 million.

—By Mansha Daswani