Central European Media Enterprises Announces Sale of 2,200,000 Shares

Central European Media Enterprises Announces Sale of 2,200,000 Shares

HAMILTON, Bermuda, March 23 /PRNewswire-FirstCall/ -- Central European Media Enterprises Ltd. ("CME") (Nasdaq/Prague Stock Exchange: CETV) today announced the pricing of its previously announced public offering of 2,200,000 of its Class A Common Shares at a price of $70 per share. CME has granted the underwriters an option to purchase up to 330,000 additional shares on the original terms. The offering is expected to close March 28.

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. Copies of the final US prospectus may be accessed at CME's website http://www.cetv-net.com/ or may be obtained from Lehman Brothers Inc, c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, N.Y., 11717. Email: monica_castillo@adp.com or. Fax: 631 254 7268. Copies of the Czech prospectus may be downloaded from CME's website http://www.cetv-net.com/, Ceska sporitelna's website http://www.csas.cz/ and the Prague Stock Exchange website http://www.pse.cz/.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.

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".

Source: Central European Media Enterprises Ltd.

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

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

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