RMG Royal Mail Plc

    Rambler Media Limited

NOTICE OF CHANGES IN SHAREHOLDINGS

Rambler Media Limited ("Rambler Media" or "the Company"), an integrated and
diversified Russian language media, entertainment, services and content delivery
company, today announced that, following the exercise of the over-allotment or
'greenshoe' option, which took place on 16 June and was completed today, the
shareholder structure of the Company has changed as follows:

Russian Federation First Mercantile Fund Limited's shareholding has decreased
from 1,214,626 shares (8.11% of the issued ordinary share capital) to 1,118,480
shares (7.47% of the issued ordinary share capital); Sopica Special
Opportunities Fund Limited's shareholding has decreased from 1,070,814 shares
(7.15% of the issued ordinary share capital) to 986,052 shares (6.58% of the
issued ordinary share capital); and Hazelbury Investments Limited's shareholding
has decreased from 748,879 shares (5% of the issued ordinary share capital) to
689,600 shares (4.60% of the issued ordinary share capital). Finally, New
Century Holdings XI L.P., which held 465,843 shares (3.11% of the issued share
capital) before the over-allotment option was exercised, now holds less than 3%
of the issued ordinary share capital. The exercise price of the over-allotment
option was US$10.25 per share.

Rambler Media's total issued share capital comprises 14,975,731 Ordinary Shares.
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.

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