Moscow, Russia – February 22, 2006 - CTC Media, Inc. (Delaware) announces its intention to register shares of its common stock with the U.S. Securities and Exchange Commission in connection with a public offering of its shares in the United States and an offering of its shares to institutional investors outside the United States.

CTC Media is the parent company of the Russian television group that owns and operates the CTC and Domashny (Home) networks.

The offering is expected to include newly issued shares by CTC Media, as well as shares held by certain existing shareholders, including Alfa Bank and funds managed by Baring Vostok Capital Partners. MTG Broadcasting AB has informed CTC Media that it does not intend to sell shares in the offering. Concurrently with the offering, CTC Media expects to apply to have its shares quoted on the Nasdaq National Market. It is anticipated that the initial filing of the registration statement with the U.S. Securities and Exchange Commission will occur in March.

This notice is not an offer to sell the shares of CTC Media and it is not soliciting offers to buy these shares. CTC Media and the proposed selling stockholders may not sell these shares in the United States if and until a registration statement covering these shares is filed with, and declared effective by, the U.S. Securities and Exchange Commission.

This notice is not a public offer or advertisement of securities in the Russian Federation, and is not an offer, or an invitation to make offers, to purchase any securities in the Russian Federation.

Members of the general public in the United Kingdom will not be eligible to take part in the proposed offering. This announcement is directed exclusively at persons who have professional experience in matters relating to investments who fall within article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (financial promotion) order 2001 (as amended) (the order) or are persons fallings within article 49(2) (A) to (D) (high net worth companies, unincorporated associations etc) of the order (all such persons together being referred to as relevant persons). This announcement, in so far as it constitutes an invitation or inducement to engage in investment activity, is directed solely at relevant persons and must not be acted on or relied on by persons who are not relevant persons.