RMG Royal Mail Plc

    


Rambler Media Limited



              RAMBLER MEDIA TO BECOME MAJORITY SHAREHOLDER IN BEGUN

Rambler Media Ltd. ("Rambler" or "the Group"), a leading provider of internet
and media services to the global Russian-speaking community, today announced
that its wholly owned subsidiary, Vieli Enterprises Ltd. ("Vieli"), has signed
an agreement to acquire control of contextual advertising company ZAO Begun
("Begun"). Vieli will purchase a further 25% stake in Begun and its subsidiaries
for a cash consideration of US$18 million, thus bringing the Group's total
ownership in Begun to 50.1%. LLC "Investment Holding Finam", the previous
majority owner of Begun, will retain a 49.9% shareholding in Begun. Begun will
become a consolidated subsidiary of Rambler upon completion of the acquisition,
which is expected in due course after the satisfaction of all conditions
precedent stipulated in the sale and purchase agreement. A further announcement
will be made upon completion.

Rambler previously acquired a 25.1% stake in Begun in 2005 for a purchase price
of US$750,000, at which time the Group also obtained an option to acquire
control. Begun is one of Russia's leading search and contextual text based
advertising platforms with a network of 35,000 individual advertisers and over
50,000 partner distribution sites. Rambler.ru is Begun's main traffic generator
accounting for approximately 20% of Begun's traffic.

In 2006, text-based advertising on Russian-language internet sites soared to
US$110 million from US$45 million in 2005 (source: Russian Association of
Communication Agencies - AKAR), and is expected by Rambler to grow faster than
traditional display advertising in the next few years as more and more small
businesses go online.

Begun's unaudited IFRS revenues were US$8.7 million for the first four months of
2007. Begun's unaudited IFRS earnings before taxes were US$1.8 million for the
same period.

For the purposes of Rule 14 of the AIM Rules, the acquisition does not result in
a fundamental change to Rambler's business, nor will there be any change in the
board or voting control of Rambler.

Mark Opzoomer, Chief Executive Officer of Rambler, commented: "I am pleased to
announce the consolidation of our stake in Begun at an early stage in the growth
of the internet advertising market in Russia. The acquisition reflects Rambler
Media's strategy to grow its share of the Russian internet contextual
advertising market and to provide relevant text-based advertising around search
and content verticals. Begun is an excellent business with a very good position
in this highly attractive segment. We look forward to providing together best of
class contextual advertising solutions to all businesses who wish to reach
millions of internet users in Russia every day. Through this acquisition, which
we funded from the proceeds of our TV sale, Rambler Media's size and prospects
have been significantly enhanced."

Alexey Basov, General Director of Begun further commented: "We are delighted to
be working more closely with Rambler. This is an opportunity to join forces and
improve our service offering for advertisers and for Russian consumers. This new
level of cooperation between our leading companies should enable us to capture a
greater portion of the Russian contextual advertising market."

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

Rambler Media                                   Shared Value Limited
Mark Opzoomer                                   Nicolas Duperrier
Tel. +7 495 500 3826                            Tel. +44 (0) 20 7321 5010
                                                rambler@sharedvalue.net

ING Wholesale Banking
Daniel Friedman / William Marle
Tel. +44 (0) 20 7767 1000

ABOUT RAMBLER MEDIA

Rambler Media is a diversified Russian language media and services group which
operates or has interests in leading internet properties including the oldest
Russian internet portal and search engine 'Rambler.ru', on-line newspaper
'Lenta.ru', price comparison website 'Price.ru', internet tracking system
'Rambler Top 100', instant messaging service 'Rambler-ICQ', high-tech portal
'Ferra.ru', interactive advertising Group 'Index20' and 'contextual advertising
company 'Begun'. Rambler Media's shares are traded on AIM, the junior 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,
and 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 or circumstances occurring after
the date of this announcement except as required by applicable law or by any
applicable regulatory authority.

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