Rambler Media Limited

Rambler Media, an integrated media company delivering internet, mobile
and television services to the global Russian-speaking community, has today
announced the launch of a co-branded instant messaging service in cooperation
with ICQ® ("I Seek You"), a leading instant messaging service provider owned by
America Online, Inc. The new Rambler-ICQ service combines the benefits of ICQ's
robust instant messaging application with Rambler Media's top-tier content and
web services and is available at http://icq.rambler.ru .

The new service is based on the ICQ® 5 software - ICQ's state of the art, global
instant messaging service. The enhanced ICQ 5 software offers new, free-to-use
features, including ICQ® Voice Chat, ICQ® Push-to-Talk, a walkie-talkie style
voice service, and ICQ® Video - an enhanced video instant messaging service.

The co-branded service enables Rambler Media to reach an enlarged audience of
internet users by providing its online content and services not only to its
existing users but also to ICQ's more than 2 million active users and 1.3
million daily users in Russia. The launch of the new service follows an
agreement in February between the two companies, in which Rambler Media became
exclusive reseller of all ICQ advertising inventory in Russia. With the launch
of the service, Rambler and ICQ expect to create a tailored media vehicle for
advertisers wanting to reach and create an ongoing dialog with millions of young
internet users in Russia. Russia's Internet advertising market was estimated to
have almost doubled in value year on year to US$30 million in 2004.

Irina Gofman, CEO of Rambler Media, commented: "This long-term collaboration in
the development of the new ICQ-Rambler co-branded service has been made possible
through a successful strategic and marketing alliance, which we announced at the
beginning of the year. The new service offers new applications and services and
will provide advertisers with enhanced reach amongst their target groups. We
believe that our collaboration will significantly strengthen both Rambler Media
and ICQ and reinforce our respective brands' positions in the Russian market."

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 5010
gofman@ramblermedia.com                 rambler@sharedvalue.net


ABOUT RAMBLER MEDIA

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.
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'.

ABOUT ICQ

ICQ is a leading instant messaging service provider with a global online
communications community. The company's robust instant messaging software,
enhanced communications features and dynamic community are available in 18
languages free of charge at www.icq.com . ICQ, created in 1996 by the
Israel-based company, Mirabilis, is now wholly owned by America Online, Inc.

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