Moscow, Russia – July 12, 2007 – CTC Media, Inc. (NASDAQ: CTCM), Russia’s leading independent television broadcaster, announced today it has qualified for the NASDAQ Global Select Market as the result of meeting NASDAQ's most stringent listing standards. The Company's common stock will be transferred to the Global Select Market at the opening of business Thursday July 12, 2007, and will trade under the same symbol, CTCM. CTC Media's common stock was previously listed on the NASDAQ Global Market prior to the upgrade.

"We are pleased to have achieved NASDAQ's highest listing standards, which enables our shares to be traded alongside NASDAQ's top-tier companies," said Alexander Rodnyansky, President and Chief Executive Officer. "Our selection to the highest tier of all NASDAQ-listed companies highlights our commitment to corporate governance and our strong financial position. We expect our inclusion will increase CTC Media's market visibility as we continue to execute our growth strategy."

Companies listed on the NASDAQ Global Sel ect Market must meet financial and liquidity requirements higher than those of any other NASDAQ market. The Global Sel ect Market tier incorporates NASDAQ's world-class corporate governance standards and helps to support areas of communication, visibility, management and board support. For additional information about the NASDAQ Global Select Market, please visit http://www.nasdaq.com/GlobalSelect.

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, whose signal is carried by more than 340 affiliate stations, including 17 owned-and-operated stations; and the Domashny television network, whose signal is carried by over 210 affiliate stations, including eight owned-and-operated stations. The Company is traded on The NASDAQ Global Select Market under the symbol: “CTCM”. For more information on CTC Media, please visit: www.ctcmedia.ru.

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CTC Media, Inc.
Konstantin Vorontsov (media)
Dmitry Barsukov (investors)
+ 7 495 785 6333

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

Certain statements in this press release that are not based on historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements, which include, among other things, our ability to execute on our growth strategy, reflect the Company's current expectations concerning future results and events. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CTC Media to be materially different fr om 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 fr om those expressed by forward-looking statements include, among others, risks related to further lim itations on the amount of advertising time permitted on Russian television fr om 2008; changes in the size of the Russian television advertising market; our ability to deliver audience share, particularly in primetime, to our advertisers; free-to-air television remaining a significant advertising forum in Russia; our reliance on a single television advertising sales house for substantially all of our revenues; and restrictions on foreign involvement in the Russian television business. These and other risks are described in the "Risk Factors" section of CTC Media's annual report on Form 10-K filed with the SEC on March 1, 2007. Other unknown or unpredictable factors could have material adverse effects on CTC Media's future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed herein may not occur.  You are cautioned not to place undue reliance on these 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.