RMG Royal Mail Plc

    Rambler Media Limited

FOR IMMEDIATE RELEASE May 22, 2006

PROPOSED AMENDMENTS TO ARTICLES OF ASSOCIATION

Moscow, Russia - May 22, 2006 - Rambler Media Limited ("Rambler" or "the
Company"), a leading integrated media company providing services to the global
Russian-speaking community, announced on March 24, 2006 that a special
resolution would be proposed to the Rambler Annual General Meeting ("AGM"). The
resolution was to propose amendments to Rambler's Articles of Association, which
would enable the Board of Directors to apply certain shareholder protection
provisions analogous in the UK's City Code on Takeovers and Mergers.

The Board of Directors has decided not to make the proposed change to the
Articles of Association at this stage pending further consultation with
shareholders. A further statement will be made at the AGM.

Rambler's AGM will be held on 15 June 2006 at The Oasis Centre, Woodford House,
Peter Street, St Helier, Jersey.

Copies of Rambler Media's full year 2005 accounts and the notice convening the
AGM have been sent to shareholders by post and are available free of charge for
at least one month at the offices of Nabarro Wells & Co Limited, Saddlers House,
Gutter Lane, Cheapside, London, EC2V 6HS.

***

For further information, please visit www.ramblermedia.com or contact:

Rambler Media                 Shared Value Limited
Irina Gofman                  Nicolas Duperrier
Tel. +7 495 500 3826          Tel. +44 (0) 20 7321 5010
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 newspaper 'Lenta.ru', broadband ISP
'Rambler Telecom', interactive advertising company 'Index20', mobile content
service provider 'SMXCOM', and documentary and entertainment TV network
'RamblerTV'. Rambler Media's shares are traded on the AIM market of the London
Stock Exchange under the symbol 'RMG'. For more information on Rambler Media,
visit our corporate website at www.ramblermedia.com.

Certain statements within this announcement constitute forward looking
statements. Such forward looking statements involve risks and other factors
which may cause the actual results, achievements or performance of the Company
to be materially different from any future results, achievements or performance
expressed or implied by such forward looking statements. Such risks and other
factors include, but are not limited to, general economic and business
conditions, changes in government regulations, and court interpretations of such
regulations, currency fluctuations (including the US$/Rbs rate), competition,
changes in development plans. There can be no assurance that the results and
events contemplated by the forward looking statements contained in this
announcement will, in fact, occur. Any forward looking statements made in this
announcement represent management's best judgment as to what may occur in the
future and are correct only as at the date of this announcement. The Company
will not undertake any obligation to release publicly any revisions to these
forward looking statements to reflect events, circumstance or unanticipated
events occurring after the date of this announcement except as required by
applicable law or by any applicable regulatory authority.

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