RMG Royal Mail Plc

    Rambler Media Limited

FIRST DAY OF DEALING ON AIM

Rambler Media Limited ("Rambler Media" or "the Company"), an integrated and
diversified Russian language media, entertainment, services and content delivery
company, is pleased to announce that the Company's shares have today been
admitted to trade on AIM ("AIM"), a market operated by the London Stock Exchange
plc. The Company's ticker is "RMG".

The placing ("Placing"), which was oversubscribed, was priced at US$10.25 per
Ordinary Share ("Placing Price") and comprised 3,000,000 newly issued Ordinary
Shares ("New Ordinary Shares") and 891,029 existing Ordinary Shares ("Existing
Ordinary Shares"). 466,924 additional existing shares are available under an
Over-allotment Option ("Over-allotment Option"). Prior to the Placing, Rambler
Media's total issued share capital comprised 11,975,731 Ordinary Shares. The New
Ordinary Shares represent 20% of the enlarged share capital. On Admission, the
Company had 14,975,731 Ordinary Shares in issue and a market capitalisation, at
the Placing Price of US$153,501,243.

Deutsche Bank AG London and U.F.G.I.S. Trading Limited (together "Deutsche UFG")
acted as Sole Book Runner and Joint-Lead Manager and Aton International Limited
acted as Joint-Lead Manager for the Placing. Deutsche Bank is acting as the
Company's Broker. Nabarro Wells & Co. Limited, assisted by Zimmerman Adams
International Limited, is Rambler Media's Nominated Adviser.

Certain selling shareholders ("Selling Shareholders") have granted Deutsche Bank
("Stabilising Manager") the Over-allotment Option which is exercisable in whole
or part, upon notice by the Stabilising Manager, for the period commencing today
and ending on 30 June 2005. In connection with the Placing, the Stabilising
Manager may over-allot and/or effect other transactions with a view to
supporting the market price of the Ordinary Shares at a higher level than that
which might otherwise prevail for a limited period after the Placing Price is
announced. Pursuant to the Over-allotment Option, the Stabilising Manager may
purchase a maximum of 466,924 additional Existing Ordinary Shares solely to
cover over-allotments, if any, in the Placing and/or to cover short positions
relating to stabilisation activities.

The definitions of the terms used in this release are included in the Admission
Document, which was published today and is available at the offices of Nabarro
Wells & Co Limited, Saddlers House, Gutter Lane, Cheapside, London, EC2V 6HS.


For further information, please contact:
Rambler Media Limited                                                 Shared Value Limited
Irina Gofman, CEO                                                     Matthew Hooper
Tel: +7 095 5003826                                                   Tel. +44 (0) 20 7321 5037
gofman@ramblermedia.com                                               rambler@sharedvalue.net

Nabarro Wells & Co. Limited
Marc Cramsie
Tel: +44 (0) 20 7710 7400


NOTES TO EDITORS

Company Overview Rambler Media is an integrated and diversified Russian language
media, entertainment, services and content delivery company with three main
segments: internet services; mobile value added services; and television
broadcasting:

Internet services: Rambler Internet's main online resource is Rambler.ru, a
leading Russian language Internet portal and search engine. Rambler.ru offers
proprietary web search, e-mail, rating and directory, media, e-commerce and
other services to the Russian-speaking community globally, which is estimated at
more than 280 million people.

It is complemented by a number of other Rambler Media owned web properties,
including the on-line Russian language newspaper Lenta.ru and several
specialized web-resources providing health related advice (www.Doktor.ru),
parenting information (www.Mama.ru) and computer equipment information
(www.Ferra.ru). Index 20 is a full-service advertising agency within the Group
and currently handles all spot advertising sales for Rambler Internet web
properties. All Rambler Media Group's Internet traffic is handled by Rambler
Telecom which, in addition to providing Internet access for the Group, acts as a
third party Internet Service Provider (ISP). Rambler Internet also has a 25%
plus one share stake in, and the option to acquire control of Begun.ru, a
leading Russian sponsored search company.

Rambler Internet derives its revenues primarily from banner advertising,
sponsored key word searches and e-commerce. Rambler Internet utilizes a
proprietary banner system, which can target users by geography and certain
social demographic and behavioural characteristics. The banner system can be set
to vary the frequency and sequence of advertisements shown to individual users.
Rambler Internet is therefore able to offer advertisers various target audience
groups for marketing and advertising promotions.

Mobile value added services: SMXCOM is a mobile content services provider that
offers a diversified portfolio of SMS-based services to individual mobile phone
users as well as B2B services and 'white label' services. Most of SMXCOM sales
are SMS-based products, which currently account for over 90% of sales and are
developed in-house. SMXCOM has signed licensing agreements with providers of
external content, such as ringtones, icons, screen savers and games. Licence
agreements have been signed with a number of leading record companies. SMXOM
uses special software which allows for the development of new applications and
instant control of content distribution.

Television broadcasting: Rambler TV is a free-to-air non-fiction, documentary
and entertainment network. The channel features programmes on technology,
extreme travel, real life stories, nature documentaries, true crime
investigations and secret service series. Some programmes are interactive and
allow viewers to actively participate and compete in contests with each other
through the Internet and by SMS.

History and operations The Rambler name first made an appearance in 1996 when
the Rambler Internet search engine was developed. Expansion took place and today
Internet Services incorporates the Rambler search engine, the Top 100 Rating and
Classification system and a number of e-mail, news and media services. During
April 2005 Rambler.ru had more than 5.6 million unique weekly users,
approximately 13.5 million unique monthly users, and more than 6.1 million
active registered users who generated in excess of 787 million monthly page
views. Rambler.ru is estimated to reach more than 56% of the quarterly audience
of Russian Internet users.

Rambler Internet's, market is not defined solely by country borders, but more by
the distribution of the Russian-speaking population worldwide. As at the date of
this announcement, Russian speakers throughout the world are estimated at more
than 280 million. In Russia alone, the target market is around 145 million
people. Significant numbers of Russian speakers live in the US, Germany and
Israel.

The Group offers now, and in the future plans to offer more, Russian language
products and services throughout certain Region (former Soviet-Union) and
non-Region markets. For example, Rambler Media recently began targeting
international advertisers in their home countries through Intersol-Index 20 LLC,
a joint venture between Intersol and Index 20 Netlogic.

SMXCOM, a mobile content provider, commenced operations in 2003. SMXCOM
presently has agreements with Mobile TeleSystems, VimpelCom and Megafon in
Russia, which together currently service approximately 90% of Russian cellular
users. In Ukraine, SMXCOM is connected to UMC and Kievstar, which serve
approximately 95% of cellular users in the country. SMXCOM is also in
discussions to sign contracts with GSM operators in Belarus and Kazakhstan.

Rambler TV was launched in 2003 with commercial assets acquired from an existing
television company. Rambler TV's technical penetration is currently
approximately 40 million people across Russia in over 470 cities and towns. As
of 31 March 2005, Rambler TV's monthly reach was 23.3% while its share of
viewing for the same period was 0.295% of viewers aged 18 years and over.

Strategy Rambler Media seeks to benefit from the expected growth and development
in four market areas: Advertising, Mobile VAS, Internet access and traffic,
E-commerce.

The Group aims to increase revenues and improve profitability by increasing the
number of loyal users, viewers and customers of Internet services, Mobile VAS
and Television Broadcasting. Its strategy is to create and develop media-user
communities where users can access a range of services and information from a
single source through a common technology base and media cross-fertilisation.
The Group also plans to launch new fee-based products and services aimed at
further integrating its interactive and mobile content capabilities throughout
the three business segments.

THIS ANNOUNCEMENT IS NOT FOR ISSUE, PUBLICATION OR DISTRIBUTION IN THE UNITED
STATES OF AMERICA, CANADA, RUSSIA, AUSTRALIA, THE REPUBLIC OF IRELAND, THE
REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IF TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. IN ADDITION,
THE SECURITIES OF RAMBLER MEDIA LIMITED HAVE NOT BEEN AND WILL NOT BE REGISTERED
UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER THAT ACT OR AN AVAILABLE
EXEMPTION FROM REGISTRATION REQUIREMENTS UNDER THAT ACT.

Recipients should be aware that this announcement does not constitute a
'prospectus' for the purposes of the Companies (Jersey) Law 1991.

This announcement does not constitute an offer or invitation to subscribe for or
to purchase shares in Rambler Media. Any investment in Rambler Media should only
be made on the basis of the final published admission document.

Deutsche Bank is acting for Rambler Media Limited and no one else in connection
with the Placing and will not be responsible to anyone other than Rambler Media
Limited for providing the protections afforded to customers of Deutsche Bank or
for providing advice in relation to the Placing.

United Financial Group is acting for Rambler Media Limited and no one else in
connection with the Placing and will not be responsible to anyone other than
Rambler Media Limited for providing the protections afforded to customers of
United Financial Group or for providing advice in relation to the Placing.

Aton International Limited is acting for Rambler Media Limited and no one else
in connection with the Placing and will not be responsible to anyone other than
Rambler Media Limited for providing the protections afforded to customers of
Aton International Limited or for providing advice in relation to the Placing.

Nabarro Wells & Co. Limited is acting exclusively for Rambler Media Limited and
for no-one else in relation to the proposed application to the Alternative
Investment Market and will not be responsible to anyone other than Rambler Media
Limited for providing the protections afforded to clients of Nabarro Wells & Co.
Limited or for providing or giving advice in relation to the Placing or any
other matter referred to in this announcement.

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