Central European Media Enterprises Announces Expiration and Final Results of Its Tender Offer for Its 3.50% Senior Convertible

Central European Media Enterprises Announces Expiration and Final Results of
Its Tender Offer for Its 3.50% Senior Convertible Notes Due 2013

HAMILTON, Bermuda, May 29, 2012 (GLOBE NEWSWIRE) -- Central European Media
Enterprises Ltd. ("CME") (Nasdaq:CETV) (Prague Stock Exchange:CETV) announced
today that its tender offer (the "Offer") to purchase for cash up to
$129,700,000 in aggregate principal amount of its outstanding 3.50% Senior
Convertible Notes due 2013 (CUSIP No. 153443AD8) (the "Notes") expired at
11:59 p.m., New York City time, on Friday May 25, 2012 (the "Expiration
Date").

As of the Expiration Date, CME has been advised that $109,013,000.00 aggregate
principal amount of the Notes was validly tendered and not validly withdrawn
in accordance with the terms of the Offer. CME has accepted for purchase all
of the Notes that were validly tendered and not validly withdrawn on or prior
to the Expiration Date.CME expects to make payment for all such Notes on
Thursday, May 31, 2012. In connection therewith, CME will draw approximately
$109 million under that certain Term Loan Facilities Credit Agreement among
CME, as borrower, and Time Warner Inc., as administrative agent and lender,
dated April 30, 2012.

CME also received the requisite consents to approve the proposed amendments to
the indenture governing the Notes, which will become effective on May 29,
2012.The proposed amendments eliminate specified covenants, make certain
amendments to a specified covenant, eliminate specified events of default and
modify other related provisions of the indenture, all as further described in
the Offer to Purchase filed by CME on April 30, 2012 with its Tender Offer
Statement on Schedule TO (as subsequently amended by CME on May 14, 2012, May
17, 2012 and May 29, 2012).

In connection with CME's acceptance for purchase of the Notes, the $49,506,000
in aggregate principal amount of Notes held by CME Media Enterprises B.V., a
wholly-owned subsidiary of CME, together with the Notes accepted through the
Offer, will be delivered to the trustee for cancellation within three business
days following the closing of the Offer. $20,687,000 aggregate principal
amount of the Notes remains outstanding and holders thereof are subject to the
terms of the Indenture governing the Notes, dated as of March 10, 2008, as
amended by the Supplemental Indenture, dated May 29, 2012.

Additionally, on May 25, 2012, CME announced that it had extended the
expiration of the tender offers for its Senior Floating Rate Notes due 2014
(the "2014 Notes") and for its 11.625% Senior Notes due 2016 (the "2016 Notes"
and, together with the 2014 Notes, the "Euro Notes") (collectively, the "Euro
Offers").The Euro Offers were previously set to expire at 4:00 p.m., London
time, on Friday, May 25, 2012.As extended, the Euro Offers will now expire at
4:00 p.m., London time, on Monday, June 11, 2012, unless earlier terminated or
extended.Further, in accordance with the terms of the Tender Offer Memorandum
with respect to the Euro Offers, dated April 30, 2012 ("Tender Offer
Memorandum"), CME has increased the 2014 Minimum Price to 91 per cent. per
€1,000 in principal amount, the 2014 Maximum Price to 94 per cent. per €1,000
in principal amount, the 2016 Minimum Price to 103 per cent. per €1,000 in
principal amount and the 2016 Maximum Price to 106 per cent. per €1,000 in
principal amount.The Euro Offers are not being made to any person located in
or resident of the United States, its territories and possessions, any state
of the United States or the District of Columbia.None of the Offer, the offer
for 2014 Notes or the offer for 2016 Notes is conditioned on the completion of
the other offers.

J.P. Morgan acted as the Dealer Manager in connection with the Offer and
Global Bondholder Services Corporation acted as the Depositary and Information
Agent for the Offer.Questions regarding the terms of the Offer and related
solicitation of consents may be directed to:J.P.Morgan Securities LLC, 383
Madison Avenue, 4th Floor, New York, New York 10179, Attention: Syndicate
Desk, Telephone: +1 (800) 261-5767 (toll free) or Global Bondholder Services
Corporation, 65 Broadway – Suite 404, New York, New York 10006, Telephone: +1
(866) 612-1500 or +1 (212) 430-3774.

CME is a media and entertainment company operating leading businesses in six
Central and Eastern European markets with an aggregate population of
approximately 50 million people.CME's broadcast operations are located in
Bulgaria (bTV, bTV Cinema, bTV Comedy, bTV Action, bTV Lady and Ring.bg),
Croatia (Nova TV, Doma and Nova World), the Czech Republic (TV Nova, Nova
Cinema, Nova Sport and MTV Czech), Romania (PRO TV, PRO TV International,
Acasa, Acasa Gold, PRO Cinema, Sport.ro, MTV Romania and PRO TV Chisinau
Moldova), the Slovak Republic (TV Markíza and Doma) and Slovenia (POP TV,
Kanal A and the POP NON STOP subscription package). CME's broadcast operations
are supported by its content and distribution division, Media Pro
Entertainment, as well as its New Media division, which operates Voyo, the
pan-regional video-on-demand service. CME is traded on the NASDAQ and the
Prague Stock Exchange under the ticker symbol "CETV."

CONTACT: Romana Wyllie
         Vice President Corporate Communications
         Central European Media Enterprises
         +420242465525
         romana.wyllie@cme.net