Revenue up 144% year-on-year to US$22.7 million (Q1 2007, US$9.3 million) with
                                improving margins


Rambler Media Limited



Rambler Media Ltd. ("Rambler"), operating one of Russia's most popular internet
brands, today issues the following trading update on its unaudited financial
results for the first quarter period from 1 January 2008 to 31 March 2008.

    --  Group revenue (including Begun) up 144% year-on-year to US$22.7 million
        (Q1 2007, US$9.3 million)

    --  63% year-on-year growth in like-for-like sales to US$15.1 million (Q1
        2007, US$9.3 million)

    --  Impact of Begun consolidation was US$7.5 million, after elimination of
        intercompany sales. Total contextual revenue was US$10.9 million for the
        period (Q1 2007, US$2.0 million)

    --  Group EBITDA margin continuing to improve to 18-20% (Q1 2007, -2%) in
        line with guidance

    --  Launch of innovative hybrid search which delivers more results faster

    --  Announced title sponsorship of Russian Football Cup including unique
        content for Rambler

    --  Unique number of visitors to rambler.ru up 33% year-on-year to 36.7
        million per month on average in the period (Q1 2007, 27.7 million). In
        March 2008, Rambler reached 38.9 million unique visitors, which is 34%
        higher than in the same month last year (March 2007, 29.1 million)

    --  Cash balance increased to US$32.7 million at 31 March 2008 (31 December
        2007, US$31.5 million).

Commenting on the trading update, Rambler's Chief Executive Officer Mark
Opzoomer said:

"2008 is clearly going to be a year of action for us, building on the change
process started in the second half of 2007. I am pleased with our financial
performance for the first quarter of the year. I am confident of the progress
our Sales, Marketing and Product development teams are making. And with the
recent announcement of our new hybrid search and title sponsorship of the
Russian Football Cup, Rambler is rejuvenating its brand with consumers and
football fans alike throughout Russia. I am confident that we are progressing
well towards our goal of being Russia's favourite homepage and the leading
gateway to the internet."

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 /
 Francis Moore
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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