Moscow, Russia – July 22, 2008 – CTC Media, Inc. (NASDAQ: CTCM), Russia's leading independent media Company, announced that production on the new season of the popular sitcom “My Fair Nanny” has been completed for launch this fall and will mark the ninth season the show has aired on CTC Network.

“My Fair Nanny” is the Russian adaptation of an original U.S. TV series “The Nanny” produced by Sony Pictures Television. Amedia has worked in conjunction with Sony Pictures Television International (SPTI) to produce 133 episodes of this sitcom that have aired on the CTC Network since September 2004. All eight seasons have achieved successful ratings, with an average audience share of 28.4% among CTC’s target demographic of viewers ages 6 to 54 years old.

The prior episodes of the “The Nanny” were adapted from the U.S. version for Russian viewers. However, these 40 new episodes have been produced exclusively for the CTC Network. The new scripts were developed by U.S. sitcom writers in conjunction with Russian creative teams and coordinated by SPTI. Production of the new season took place from January 2008 to May 2008. 

Alexander Rodnyansky, Chief Executive Officer of CTC Media, commented, "The new season of “My Fair Nanny” is an unprecedented event for the Russian TV market as it marks the first time that authors of an original, non-Russian series have developed new episodes specifically for Russian TV viewers. This project is the result of an effective cooperation between CTC Media and SPTI.”

Director for Strategic Programming of CTC Media, Alexey Zyunkin said, “The new season of “My Fair Nanny” will be launched this fall and we are confident this popular sitcom will once again be successful with both viewers and advertisers.”

Commenting on the completed production of “My Fair Nanny”, SPTI’s Jeff Lerner, Senior Vice President, Development & Current Programs, said, “We were thrilled to be able to reassemble the cast and writers to recreate the magic and give the audience a new batch of “My Fair Nanny”. It's fun to explore a new phase in Maxim and Vika's lives - as newlyweds in a new home - with all the challenges that come from that, for them as a couple and for their family. ”

About CTC Media, Inc.

CTC Media, Inc. is Russia's leading independent media company. The Company owns and operates the CTC television network, whose signal is carried by more than 350 affiliate stations, including 21 owned-and-operated stations, the Domashny television network, whose signal is carried by over 230 affiliate stations, including 13 owned-and-operated stations, and the DTV television network whose signal is carried by 24 affiliate and owned-and-operated stations. The combined audience share for the CTC, Domashny and DTV networks in 2007 was 12.9%. CTC Media, Inc. owns two Russian production companies - Costafilm LLC and Soho Media LLC and operates Channel 31 in Kazakhstan and a TV company in Uzbekistan. The Company is traded on The Nasdaq Global Sel ect Market under the symbol: "CTCM". For more information on CTC Media, please visit: www.ctcmedia.ru.

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For further information please contact:

CTC Media, Inc.
Ivan Philippov (media)
Katya Ostrova (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, the Company’s expectations regarding the audience share for the new season of the sitcom “The Nanny”, 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 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 fr om those expressed by forward-looking statements include, among others, the Company’s ability to deliver audience share, particularly in primetime, to its advertisers; changes in the size of the Russian television advertising market; free-to-air television remaining a significant advertising forum in Russia; the Company’s reliance on a single television advertising sales house for substantially all of its 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 quarterly report on Form 10-Q filed with the SEC on April 30, 2008. 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.