Rambler Media Limited



                   UPDATED NUMBER OF ORDINARY SHARES IN ISSUE

As required by AIM regulations, Rambler Media Limited ("Rambler Media" or "the
Company"), operating one of Russia's most popular internet brands, wishes to
provide the investment community with the updated number of Rambler Media
ordinary shares currently in issue to enable shareholders to calculate their
shareholdings accurately. The Company's issued share capital currently comprises
15,397,649 ordinary shares. In addition, the Company wishes to provide details
of share options which were exercised in 2006 and 2007 and have resulted in the
increased number of ordinary shares in issue.

In 2006, share options representing the right to acquire 295,973 ordinary shares
of US$0.01 each in the Company at a weighted average exercise price of US$4.28
per ordinary share were exercised and the shares were immediately issued.

Additionally, in 2007, share options representing the right to acquire 125,945
ordinary shares of US$0.01 each in the Company at a weighted average exercise
price of US$15.17 per ordinary share were exercised and the shares were
immediately issued bringing the issued share capital to 15,397,649 ordinary
shares of US$0.01 each (2006, 15,271,704).

As part of the above exercises, Robert Mott Brown III, a director of the
Company, gave notice to the Company on 18 January 2007 that he wished to
exercise his options to acquire 21,876 ordinary shares of US$0.01 each in the
Company at an exercise price of US$8 per share. Accordingly 21,876 ordinary
shares were subsequently issued.

As part of the above exercises, Irina Gofman, a former director of the Company,
through Ethereal Limited, gave notice to the Company on 23 November 2006 that
she wished to exercise her options to acquire 112,840 ordinary shares of US$0.01
each in the Company at an exercise price of US$6.58 per share. Accordingly
112,840 ordinary shares were subsequently issued.

As part of the above exercises, James Mullins, a former director of the Company,
through Dansean Limited, gave notice to the Company in 2006 that he wished to
exercise his options to acquire 70,101 ordinary shares of US$0.01 each in the
Company at an exercise price of US$2.75 per share. Accordingly 70,101 ordinary
shares were subsequently issued.

Application has been made for the 421,918 ordinary shares created as a result of
the exercise of these options to be admitted to AIM. Such admission is expected
to be effective on or about 12 June 2008.

The shares in issue and details of award and exercise of options in this
announcement are consistent with the disclosure in the Company's 2007 annual
report.

                                       ***

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 / 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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