2009 Annual General Meeting of Stockholders and Appointment of New Director

2009 Annual General Meeting of Stockholders and Appointment of New Director

LONDON, April 21/PRNewswire-FirstCall/ -- CTC Media, Inc. (NASDAQ: CTCM), Russia's leading independent
media company, announces that all resolutions proposed at CTC Media's 2009
Annual General Meeting, held yesterday, have been passed.

Stockholders re-elected four members to the Board of
Directors, each for a three-year term: Hans-Holger Albrecht, Peter Aven,
Charles Burdick and Alexander Rodnyansky.

The stockholders approved the Company's 2009 Stock Incentive
Plan and the reservation of 7,800,000 shares of the Company's common stock
for issuance pursuant to the plan. No stock options have yet been granted
under the plan.

Stockholders also ratified the selection of Ernst & Young LLC
as the Company's independent registered public accounting firm for the year
ending December 31, 2009.

At the Board of Directors meeting that immediately followed
the stockholders' meeting, Lev Khasis, Chief Executive Officer of X5 Retail
Group, was appointed as a member of the Board of CTC Media to replace Elena
Grechina, Senior Vice President of Alfa Bank, who has resigned from the
Board. Mr. Khasis has been designated to serve on the Board by Alfa CTC
Holdings Limited ("Alfa"), an affiliate of Alfa Bank, pursuant to the terms
of a stockholders' agreement among the principal stockholders of the Company.
Ms. Grechina will continue to assist with the management of Alfa's interest
in CTC Media. CTC Media's Board of Directors is currently made up of 10
members, three of whom, pursuant to the stockholders' agreement, are
designated by Alfa and three by MTG Russia AB, a wholly owned subsidiary of
Modern Times Group MTG AB.

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)
Kaj Gradevik (current term expires 2010)
Lev Khasis (current term expires 2010)
Werner Klatten (current term expires 2010)
Alexander Rodnyansky (current term expires 2012)
Oleg Sysuev (current term expires 2011)

Notes to Editors:

Lev Khasis is the CEO and the Chairman of the Management Board
of X5 Retail Group. Before the merger between "Perekrestok" and "Pyaterochka"
in May 2006, Mr. Khasis served as the Chairman of the Perekrestok Supervisory
Board. Mr. Khasis has held a number of senior Board and management positions,
including Chairman of the Board of "Trade House GUM", and Chairman of the
Board of "Trade House TsUM". Since February 2008, Mr. Khasis has served as
the Chairman of the Russian Association of Companies of Retail Trade (ACORT).
Mr. Khasis holds a PhD in Economics, a PhD in Law and a PhD in Technology.

About CTC Media, Inc.

CTC Media is a leading independent media company in Russia. It
owns and operates the CTC television network, with signal carried by more
than 350 affiliate stations, including 20 owned-and-operated stations; the
Domashny television network, with signal carried by over 250 affiliate
stations, including 12 owned-and-operated stations; and the DTV television
network, with signal carried by affiliate stations including 4
owned-and-operated stations. CTC Media owns two TV content production
companies, COSTAFILM and SOHO MEDIA, and operates Channel 31 in Kazakhstan
and TV companies in Uzbekistan and Moldova. The company's common stock is
traded on The NASDAQ Global Select Market under the symbol "CTCM".

Certain statements in this press release that are not based on
historical information are "forward-looking statements". Such forward-looking
statements reflect the Company's current expectations concerning future
results and events. These forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of CTC Media to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. The potential risks and uncertainties that
could cause actual future results to differ from those expressed by such
forward-looking statements include, among others, risks to the world economy,
the Russian economy and the Russian advertising market, and developments that
may affect our ability to deliver audience share, particularly in primetime,
to our advertisers. Risks related to our business generally are described in
the "Risk Factors" section of CTC Media's most recent annual report on Form
10-K filed with the SEC. You are cautioned not to place undue reliance on any
forward-looking statements. CTC Media does not undertake any obligation to
publicly update or revise any forward-looking statements because of new
information, future events or otherwise.

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

Investor Relations
Ekaterina Ostrova
Ekaterina Tsukanova
Tel: +7-495-783-3650
ir@ctcmedia.ru

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

Source: CTC Media, Inc

Investor Relations, Ekaterina Ostrova, Ekaterina Tsukanova, Tel: +7-495-783-3650, ir@ctcmedia.ru; Media Relations, Ekaterina Osadchaya, Angelika Larionova, Tel: +7-495-785-6333, pr@ctcmedia.ru

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