Rambler Media Offloads TV Business

MOSCOW, October 25: Rambler Media, whose core business is
the provision of online and mobile content services to Russian speakers
worldwide, is selling off its television station to Osgora Productions, a
subsidiary of the Russian outfit Prof-Media.

Rambler TV is a free-to-air factual and entertainment
network that reaches approximately 40 million people across Russia in over 470
cities and towns. Its target demo is males aged 25 to 54. Rambler TV generated
revenues of $2.15 million and an EBITDA loss of $1.4 million for the first half
of 2006.

Rambler Media is selling the business so that it can focus
on its successful Rambler.ru portal. Proceeds from the sale will be used to
grow the company, including possible online acquisitions.

Prof-Media will use the Rambler TV infrastructure to extend
the operations of its upcoming Moscow-based channel 2×2.