RMG Royal Mail Plc

    Rambler Media Limited

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 OR JAPAN

FOR IMMEDIATE RELEASE 16 June 2005

OVER-ALLOTMENT OPTION EXERCISED

Rambler Media Limited ("Rambler Media" or "the Company"), an integrated and
diversified Russian language media, entertainment, services and content delivery
company, today announced that it has received notice that the over-allotment or
'greenshoe' option, which was granted by selling shareholders in Rambler Media's
Initial Public Offering, has been exercised by the Company's Stabilising Manager
- Deutsche Bank.

The over-allotment option covers 466,924 additional existing ordinary shares,
which is equivalent to approximately 3.1% of the Company's equity. As a result
of the exercise and upon completion, the free float of shares in the company
will increase from 26% to approximately 29% or 4,357,953 ordinary shares out of
a total of 14,975,731 ordinary shares in issue.

Unconditional trading in the Company's shares on the AIM market of the London
Stock Exchange commenced at market opening on Wednesday 15 June 2005.


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


ABOUT RAMBLER MEDIA

Rambler Media is an integrated provider of Russian language media,
entertainment, services and content delivery through diversified multimedia
platforms including internet, mobile added value services and television
broadcasting to the Russian-speaking community worldwide. Rambler Media operates
businesses including the Russian language internet portal and search engine
'rambler.ru'; on-line news site 'Lenta.ru'; broadband ISP 'Rambler Telecom';
interactive advertising company 'Index20'; mobile content service provider
'SMXCOM'; and entertainment TV network 'RamblerTV'. Rambler Media's shares are
traded on the AIM market of the London Stock Exchange under the symbol 'RMG'.

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.

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