Central European Media Enterprises Receives Prospectus Approval of Czech Securities Commission

Central European Media Enterprises Receives Prospectus Approval of Czech Securities Commission

HAMILTON, Bermuda, March 17 /PRNewswire-FirstCall/ -- Central European Media Enterprises Ltd. ("CME") (Nasdaq/Prague Stock Exchange: CETV) announced today that the Czech Securities Commission has approved the prospectus for CME's equity offering in the Czech Republic. CME intends to issue Class A Common Stock in an amount sufficient to raise approximately $150 million. CME filed its registration statement with the U.S. Securities and Exchange Commission on March 15, 2006 for 2.2 million shares of Class A Common Stock with an underwriters' option to sell an additional 330,000 shares (resulting in a total potential transaction size of up to $172,500,000).

J.P. Morgan Securities Ltd., Lehman Brothers Inc. and ING Bank N.V., London Branch are acting as joint bookrunners. Ceska sporitelna, a.s. is the lead manager of the shares to be sold to institutional investors in the Czech Republic and Central and Eastern Europe.

This notice is not a public offer of any securities. The Czech prospectus for CME's offering was published on March 15, 2006 and may be obtained at http://www.cetv-net.com/ (CME's website) and http://www.csas.cz/ (Ceska sporitelna's website) and http://www.pse.cz/ (Prague Stock Exchange website).

CME is a TV broadcasting company with leading networks in six Central and Eastern European countries reaching an aggregate of approximately 82 million people. The Company's television stations are located in Croatia (Nova TV), Czech Republic (TV Nova, Galaxie Sport), 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/ .

Source: Central European Media Enterprises Ltd.

CONTACT: Romana Tomasova, Director of Corporate Communications, Central
European Media Enterprises, +44-0-20-7430-5357, romana.tomasova@cme-net.com

Web site: http://www.cetv-net.com/
http://www.csas.cz/
http://www.pse.cz/

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