Agreement to enhance Rambler's cost base and grow its share of the internet
                      display advertising market in Russia


Rambler Media Limited



Rambler Media Ltd. ("Rambler" or "the Group"), operating one of Russia's most
popular internet brands, today announces that it has sold a 51% stake in its
proprietary online display advertising agency ZAO Index20 ("Index20") to a
subsidiary of Video International Group ("Video International"), the largest
media advertising operator in Russia. The sale reinforces Rambler's strategic
partnership agreement with IMHO VI which was announced in October 2007. Under
this sale agreement, Index20 and IMHO VI will generate a minimum of US$40
million of cash advertising sales for Rambler from display advertising in 2008.

Index20 is an in-house advertising sales agency which was, prior to today,
wholly-owned by Rambler and handled all banner (display) advertising sales
exclusively for Rambler's web properties including Rambler.ru, Lenta.ru,
Price.ru and Rambler ICQ.

Video International is the leading media advertising market operator in Russia
and Eastern Europe, providing solutions for mass media advertising on major TV
channels, radio stations, printed media and internet properties in the region.
In October 2007, Rambler Media signed a strategic partnership with IMHO VI, a
subsidiary of Video International Group, authorizing it to sell advertising on
Rambler's web properties.

Mark Opzoomer, CEO of Rambler Media, commented: "We are very pleased to announce
that we have now sold control of Index20 to Video International, the leading
media advertising group in Russia. We believe that by allowing Index20 some
independence from Rambler and partnering with IMHO VI, we will attract more
advertisers to Rambler and capture a larger share of the online advertising
market, thus improving our sell-out and power ratios. In addition, through this
strategic partnership, IMHO VI will absorb the corporate costs related to
Index20, therefore enhancing Rambler's cost base."

Arsen Revazov, the President and founder of IMHO VI, further commented: "This
transaction will enable Video International, as shareholders of Index20, to
fully control the development of its business. We are very excited that this
acquisition creates a basis for synergies between IMHO VI and Index20 and that
it will strengthen Video International's market share in the Russian internet
advertising market. We will implement Video International's corporate standards
and its unique advertising sales technologies to achieve new heights for Rambler
and to better serve its advertisers."

Terms of the agreement

Under the agreement, Index20 will be controlled by Video International with a
51% ownership while Rambler will own the remaining stake and will receive a
dividend from Index20's profit in proportion to its ownership. The cash
consideration for the sale has not been disclosed. Rambler has a three year call
option for 51% of Index20.

The deal is expected to accelerate Index20's growth as a leading digital
advertising agency in Russia by enhancing its sales capabilities, management
talent, systems and reach and enabling it to provide new services such as
affiliated programs, search engine marketing services and other digital
advertising innovations (video, wap/mobile, rich media). In parallel, the
strategic sale is expected to open up access to Rambler's web properties to a
broader range of advertisers.

Under the agreement, Index20 will generate a minimum of US$40 million worth of
advertising sales for Rambler in 2008, which will increase to a minimum of US$60
million in 2009 and US$90 million in 2010, to be
adjusted according to predefined, market-driven targets.

The advertising market in Russia is growing very strongly, and internet
advertising is growing twice as fast. Online display advertising was estimated
to have increased by 60% year on year in 2007 to US$160 million (2006, US$100
million) (source: 2007 - Video International, 2006 - Russian Association of
Communication Agencies - AKAR).

Index20 will continue to handle all banner advertising sales for Rambler
properties, in exchange for which Rambler will continue to pay variable
commissions, and will also sell advertising space on other online websites, in
close connection with Video International. The advertising inventory provided by
Rambler to Index20 does not include the display and context advertising in the
search results.

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 an internet media and services group which operates or has
interests in leading Russian language internet brands including the original
Russian internet homepage and search engine 'Rambler.ru', on-line newspaper
'Lenta.ru', product comparison website 'Price.ru', internet catalogue and
navigation system 'Top 100', instant messaging service 'Rambler-ICQ', digital
advertising agency '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.
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