CTC MEDIA RECOGNISED FOR OUTSTANDING PROGRESS IN CORPORATE GOVERNANCE

13.12.2006
Moscow, Russia – December 13, 2006 – CTC Media, Inc. (Nasdaq: CTCM), a leading television broadcaster in Russia, today announced that it has been awarded the Best Progress in Corporate Governance award by the Russian Investor Protection Association. The Association includes leading Russian and international financial institutions and has presented the award annually since 2000.

Alexander Rodnyansky, Chief Executive Officer of CTC Media, commented, “This award highlights the substantial efforts our Company has made to implement a best practice corporate governance program. We recognize the importance of corporate transparency in today’s public marketplace, and remain committed to adhering to the highest standards of corporate governance going forward. ”

About CTC Media, Inc.

Based in Moscow, CTC Media, Inc. was formed in 1989 to pursue commercial media and advertising opportunities in Russia. The Company owns and operates the CTC television network, which reaches approximately 100 million people through more than 320 affiliate stations, including 17 owned-and-operated stations; and the Domashny television network, which reaches approximately 58 million people through more than 190 affiliate stations, including six owned-and-operated stations. The Company is traded on The Nasdaq National Market under the symbol: CTCM. For more information on CTC Media, please visit: www.ctcmedia.ru.

About Russian Investor Protection Association

The Russian Investor Protection Association is a non-commercial organization established in 2000. The Association’s efforts are aimed at protecting the rights of investors and improving corporate governance in Russia. The Association includes domestic and international investors with sizeable investments and considerable experience on the Russian market.

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Contacts:

CTC Media, Inc.
Dmitry Barsukov
+ 7 495 783 3650

Brainerd Communicators, Inc.
Jenna Focarino (media)
Michael Smargiassi or Todd St.Onge (investors)
+1 212 986 6667