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CTC Media Financial Results for the Fourth Quarter and Full Year Ended December 31, 2012

CTC Media Financial Results for the Fourth Quarter and Full Year Ended
December 31, 2012

MOSCOW, March 6, 2013 (GLOBE NEWSWIRE) -- CTC Media, Inc. ("CTC Media" or the
"Company") (Nasdaq:CTCM), Russia's leading independent media company, today
announced its unaudited consolidated financial results for the fourth quarter
and full year ended December 31, 2012.

                   Three Months                  Twelve Months          
                   Ended December 31,            Ended December 31,     
(US$ 000's except   2011       2012        Change  2011       2012        Change
per share data)
                                                                    
Total operating     $236,758 $264,233  12%    $766,360 $804,946  5%
revenues
Total operating     (238,264)  (169,391)   -29%    (643,675)  (655,059)   2%
expenses
Total operating
expenses before     (148,725)  (169,391)   14%     (537,293)  (572,556)   7%
non-recurring
items^1
OIBDA^2             3,218      103,809     nm^3    140,334    173,905     24%
OIBDA margin^2      1.4%       39.3%              18.3%      21.6%       
Adjusted OIBDA^2,^4 92,757     103,809     12%     246,716    256,408     4%
Adjusted OIBDA      39.2%      39.3%              32.2%      31.9%       
margin^2,4
Net income
(loss)attributable (24,535)   64,875      nm      53,118     93,063      75%
to CTC Media, Inc.
stockholders
Fully diluted       $(0.16)  $0.41     nm     $0.34    $0.59     74%
earnings per share
Adjusted net income
attributable to CTC 61,434     64,875      6%      152,561    157,794     3%
Media, Inc.
stockholders^4
Adjusted fully
diluted earnings    $0.39    $0.41     5%      $0.97    $1.00     3%
per share^4
                                                                    

^1 Total operating expenses (before non-recurring items) is a non-GAAP
financial measure that excludes a $11.1 million non-recurring charge arising
from the impairment of the DTV trade name and $95.2 non-recurring charge
arising from the impairment of goodwill and broadcasting licenses in 2011 (Q4
2011: 89.5 million), as well as a $82.5 million non-recurring charge arising
from the impairment of analog broadcasting licenses in the third quarter of
2012. Please see the accompanying financial tables at the end of this release
for a reconciliation of total operating expenses (before non-recurring items)
to GAAP total operating expenses.

^2 OIBDA is defined as operating income before depreciation and amortization.
OIBDA margin is defined as OIBDA divided by total operating revenues. Both
OIBDA and OIBDA margin are non-GAAP financial measures. Please see the
accompanying financial tables at the end of this release for a reconciliation
of OIBDA to operating income and OIBDA margin to operating income margin.

^3 Number is not meaningful

^4 All adjusted numbers are non-GAAP financial measures reported before the
non-recurring items described above. Please see the accompanying financial
tables at the end of this release for a reconciliation of adjusted OIBDA to
OIBDA, adjusted net income to GAAP reported net income and adjusted diluted
earnings per share to GAAP reported earnings per share.

FULL YEAR FINANCIAL HIGHLIGHTS

  *Total revenues of $804.9 million – up 10% year-on-year in ruble terms
  *Russian advertising revenues up 9% year-on-year in ruble terms
  *Adjusted OIBDA of $256.4 million with an adjusted OIBDA margin of 31.9%
  *Adjusted fully diluted earnings per share up 3% year-on-year to $1.00
    (2011: $0.97)
  *Net cash position^1 of $173.4 million at the end of the period
  *Payment of cash dividends of $0.52 per share (or $82.2 million in the
    aggregate) in 2012
  *The Board of Directors currently intends to pay cash dividends of $0.63
    per share (or up to approximately $100 million in the aggregate) in 2013
    and has declared a cash dividend of $0.15 per share (or approximately $24
    million in the aggregate) to be paid on or about March 29 to shareholders
    of record as of March 20, 2013, with further dividends anticipated in the
    remaining quarters of 2013

OPERATING HIGHLIGHTS

  *Combined Russian national inventory 98% sold-out in Q4 and 97% sold-out
    for the full year
  *Year-on-year increases in technical penetration of CTC, Domashny and
    Peretz networks to 95.1% (2011: 94.7%), 88.5% (2011: 84.9%), and 83.8%
    (2011: 80.1%), respectively
  *Domashny and Peretz channels recorded all-time high average annual
    audience shares in 2012
  *CTC and Domashny channels selected in a public tender to be included in
    the second digital multiplex
  *CTC-International channel launched in Armenia, Azerbaijan, Georgia,
    Kazakhstan and Kyrgyzstan

Boris Podolsky, Chief Executive Officer of CTC Media, commented: "We had a
record year for CTC Media with Group sales for the first time exceeding $800
million. We also delivered a stable year-on-year OIBDA margin of 32%, when
adjusted for one-off non-cash impairment charges.

"Our consolidated revenues were up 10% year-on-year in Ruble terms. Both
Domashny and Peretz posted their highest ever annual audience shares last year
and outperformed the Russian television ad market in terms of sales growth.
Therefore, despite a decrease in ratings at our flagship CTC channel, in 2012
our combined national advertising market share was stable year-on-year at 18%.
All our Russian channels also benefited from a step up in television
viewership, which positively impacted their inventory levels.

"In addition, our CIS, CTC-International, digital media and sublicensing
revenues were all growing substantially ahead of the Russian television
advertising market and increased their contribution to the Group sales to 7%
from 5% year-on-year. Revenues from our CIS operations were up 33%
year-on-year in US dollar terms in 2012, primarily reflecting the outstanding
performance of Channel 31, which took substantial advertising market share in
Kazakhstan. Sublicensing revenues were up 50% year-on-year in US dollar terms,
while CTC-International and our promising digital media segments almost
tripled their sales.

"Looking ahead, we currently expect the Russian television advertising market
in 2013 to grow by up to 10% year-on-year in ruble terms, our Russian
television ad revenues to grow in line with the market, and our revenues from
other businesses to grow at a higher rate. Our Russian channels' national
inventory is now approximately 80% contracted for 2013 at higher average
prices than last year. We also expect to deliver an OIBDA margin similar to
the 2012 level of 32%.

"Last year we improved our cash conversion levels and generated higher free
cash flow. During 2013, we intend to pay out quarterly dividends in an
aggregate of $0.63 per share, which is a more than 20% year-on-year increase
compared to 2012. This reflects our philosophy to return surplus free cash
flow to shareholders."

_________________________

^1 Net cash position is defined as cash, cash equivalents and short-term
investments less interest bearing liabilities.

Operating Review

Switch to New Target Audiences from 2013

The Company has switched to the following target audiences for CTC and Peretz
Networks starting from January 1, 2013:

                              
              2012             2013
               Target Audience   Target Audience
                              
CTC Network   All 6-54         All 10-45
                              
Peretz Network All 25-59        All 25-49

Domashny Network's target demographic, "women 25-59", remains unchanged.

The switch to the new target audiences for CTC and Peretz is a part of the
Company's overall positioning strategy for these channels, reflecting
advertiser demand. The decision to narrow the target audiences primarily
reflects the Company's expectation that it will continue to deliver higher
audience shares and more advertising inventory in the new demographics.

Share of Viewing

                                Average Audience Shares (%)
                                Q42011 FY 2011 Q3 2012 Q42012 FY 2012
                                                             
CTC Network (all 6-54)           10.6     10.7    8.7     9.4     9.6
CTC Network (all 10-45)          12.1     12.1    10.1    11.0    11.0
Domashny Network (females 25-59) 3.3      3.2     3.6     3.1     3.6
Peretz Network (all 25-59)       2.0      2.0     2.6     2.3     2.5
Peretz Network(all 25-49)        2.1      2.1     2.9     2.3     2.7
Channel 31 (all 6-54)            15.7     15.9    15.3    13.8    14.7

In 2012, the CTC Network maintained its place as the third most-watched
broadcaster in Russia in its new target demographic of everyone between 10 and
45 years old. At the same time, its average audience shares (both in the
current and new target age groups) were down year-on-year, primarily
reflecting a decreased amount of first-run content on air compared to 2011,
and, to a lesser extent, increased competition and audience fragmentation.

The Domashny Network's target audience share was up year-on-year in 2012 to
3.6% from 3.2%. This year-on-year increase in Domashny's target audience share
was primarily due to the strong performance of programming, including foreign
and locally-produced series, such as the Turkish historical drama "Magnificent
Century" and the Russian comedy series "Masha in Law" (Masha v Zakone).

The Peretz Network's audience share was up year-on-year in 2012 to 2.7% from
2.1% in its new target demographic of everyone between 25 and 49. The
year-on-year growth was primarily driven by the success of the programming
schedule introduced following the channel's repositioning in late 2011,
boosted by prominent marketing support and increased technical penetration.

In 2012, both Domashny and Peretz Networks delivered their highest ever
average annual target audience shares.

Channel 31's average target audience share was down year-on-year in 2012to
14.7% from 15.9%, primarily reflecting increased competition from the
state-owned channels.

Revenues                                                         
                                                                
                        Three Months             Twelve Months      
(US$ 000's)              Ended December 31,       Ended December 31, 
Operating revenues:      2011      2012     Change 2011      2012     Change
                                                                
Advertising revenue      $229,969  $254,264 11%    $747,451  $775,806 4%
Sublicensing revenue     6,309     8,068    28%    15,836    $23,706  50%
Other revenue            480       1,901    296%   3,073     5,434    77%
Total operating revenues $236,758  $264,233 12%    $766,360  $804,946 5%

Total operating revenues were up 12% year-on-year in the fourth quarter and up
5% for the full year in US dollar terms. In ruble terms, total operating
revenues were up 11% year-on-year in the fourth quarter and up 10% for the
full year. This primarily reflected the growth of the Russian television
advertising market, growth in the target audience shares for Domashny and
Peretz Networks, and year-on-year increase in inventory levels across Russian
TV channels. This was partially offset by lower year-on-year target audience
shares for the CTC Network.

The Company's sublicensing revenue was up 50% for the full year in US dollar
terms, primarily as a result of increased sales to broadcasters in Russia and
Ukraine.

Other revenue was up 77% year-on-year for the full year in US dollar terms,
which primarily reflects growth in revenues from CTC-International segment.

                          Three Months             Twelve Months      
                          Ended December 31,       Ended December 31, 
(US$ 000's)                2011      2012     Change 2011      2012     Change
                                                                  
Operating revenues by                                              
segment^1:
CTC Network                $144,237  $155,738 8%     $474,028  $483,642 2%
Domashny Network           25,610    30,780   20%    90,321    95,078   5%
Peretz Network             18,265    21,220   16%    59,623    72,709   22%
CTC Television Station     34,146    34,427   1%     98,599    93,392   -5%
Group
Domashny Television        5,541     6,480    17%    15,668    18,211   16%
Station Group
Peretz Television Station  2,211     2,929    32%    6,591     8,475    29%
Group
CIS Group                  5,865     8,105    38%    17,843    23,638   33%
Production Group           203       462      128%   378       860      128%
Other                      680       4,092    nm     3,309     8,941    170%
Total operating revenues   $236,758  $264,233 12%    $766,360  $804,946 5%
                                                                  

^1 Segment revenues are shown from external customers only, net of
intercompany revenues of $9.3 million in the fourth quarter of 2011, $7.8
million in the fourth quarter of 2012, $34.7 million for the full year 2011
and $28.8 million for the full year 2012 that primarily related to revenues
from the Production Group that have been eliminated in the consolidation of
the Company's revenues.

Russian advertising sales accounted for approximately 94% of 2012 total
operating revenues and were up 9% year-on-year in ruble terms. In US dollar
terms, the revenue dynamics were negatively impacted by the depreciation of
the Russian ruble against the US dollar.

The CIS Group, which accounted for 2.9% of revenues in 2012 (2011: 2.3%),
reported a 33% year-on-year increase in sales in US dollar terms. This
primarily reflected the higher sellout for Channel 31 in Kazakhstan.

Combined revenue from other businesses – CTC-International and digital
projects – was up 170% year-on-year in US dollar terms in 2012 primarily due
to the expansion of CTC-International's operations to new territories and
platforms during 2012 as well as higher internet advertising sales. For the
full year 2012, the Company generated revenues of approximately $5.1 million
from its digital media projects, most of which related to the advertising
sales on Videomore.ru.

Expenses

Total operating expenses before non-recurring items were up 7% year-on-year in
2012 in US dollar terms and up 12% in ruble terms. This primarily reflected
the year-on-year increase in programming amortization costs and selling,
general and administrative expenses, though these increases were partially
offset by the year-on-year decrease in stock-based compensation expenses.

                          Three Months             Twelve Months      
                          Ended December 31,       Ended December 31, 
(US$ 000's)                2011      2012     Change 2011      2012     Change
                                                                  
Operating expenses:                                                
Direct operating expenses  $11,151   $11,946  7%     $43,684   $45,357  4%
Selling, general &         48,501    56,406   16%    165,176   181,266  10%
administrative expenses
Stock-based compensation   2,726     (573)    nm     18,318    4,779    -74%
expenses
Programming expenses       81,623    92,645   14%    292,466   317,136  8%
Depreciation &             4,724     8,967    90%    17,649    24,018   36%
amortization
Total operating expenses   $148,725  $169,391 14%    $537,293  $572,556 7%
before non-recurring items
Impairment loss            89,539    -        -100%  106,382   82,503   -22%
Total operating expenses   $238,264  $169,391 -29%   $643,675  $655,059 2%

Direct operating expenses increased by 4% year-on-year in US dollar terms and
increased by 10% in ruble terms for the full year 2012, largely as a result of
increased transmission and maintenance costs relating to annual raises, newly
acquired stations, increased distribution fees as a result of expanded
operations of CTC-International, and a one-off effect of higher satellite fees
due to the switch to new satellite systems and the launch of the Company's new
digital broadcasting complex.

Selling, general and administrative expenses were up 10% year-on-year in US
dollar terms and up 16% year-on-year in ruble terms in 2012. The increase was
primarily due to higher advertising and promotion expenses, increased salaries
and benefits, and increased compensation expenses payable to Video
International that are in line with the revenue dynamic. Compensation payable
to Video International, which is included in selling, general and
administrative expenses, amounted to $85.7 million in 2012 (2011: $80.4
million).

Stock-based compensation expenses totaled $4.8 million for the full year
(2011: $18.3 million). The decrease in stock-based compensation expense was
principally due to the departure of CTC Media's former CEO at the end of 2011,
departures of several of the Company's employees and executives during 2012
and the fact that some options became fully vested.

Programming expenses were up 8% year-on-year in US dollar terms and up 14% in
ruble terms for the full year, which primarily reflected a more expensive
content mix for CTC, Domashny and, to a lesser extent, Channel 31, partially
offset by lower year-on-year write-downs of Russian series and sitcoms due to
their underperformance.

Programming expense at the CTC Channel was up 14% year-on-year for the full
year in ruble terms mainly due to increases in the volume of foreign content
aired during the year in response to increased competition from other channels
and because of the expiration of certain licenses; as well as increases in
cost per hour of first-run Russian series and sitcoms. Programming costs at
the Domashny Channel were up 18% year-on-year for the full year in ruble
terms, primarily due to the increased cost of foreign series as well as more
expensive new Russian content launched during the year to support Domashny's
increased focus on younger female audiences. Programming costs at the Peretz
Channel were down 3% year-on-year for the full year in ruble terms primarily
due to optimization of the programming mix in 2012. Programming costs at
Channel 31 were up 32% year-on-year for the full year in US dollar terms
primarily due to diversification of the programming mix resulting in an
increased number of genres, quality, volume and cost of locally produced
content, as well as more expensive Turkish series aired in 2012 in response to
increased competition.

Depreciation and amortization expenses were up 36% year-on-year in US dollar
terms and up 44% year-on-year in ruble terms for the full year. The increase
primarily related to the Company's new broadcasting facility in Moscow. In
addition, starting from October 1, 2012, CTC Media's depreciation and
amortization expense includes the amortization of the Company's analog
licenses due to the reassessment of their useful lives from indefinite to
finite as a result of the planned transition to digital broadcasting ($4.6
million in the fourth quarter of 2012).

As a result of impairment reviews performed in 2011, we recorded non-cash
impairment losses totaling $106.3 million, of which $11.1 million related to
the DTV trade name as a result of the re-branding of the channel, and $95.2
related to the impairment of goodwill and broadcast licenses (Q4 2011: 89.5
million). In 2012, the Company's impairment loss of $82.5 million related to
analog broadcasting licenses, reflecting the reassessment of their useful
lives from indefinite to finite made as of September 30, 2012 as a result of
the planned transition to digital broadcasting.

CTC Media therefore reported consolidated adjusted OIBDA, excluding the above
mentioned impairment losses, of $103.8 million in the fourth quarter (Q4 2011:
$92.8 million) and $256.4 million for the full year 2012 (2011: $246.7
million). The adjusted OIBDA margin was 39.3% in the fourth quarter (Q4 2011:
39.2%) and 31.9% for the full year (2011: 32.2%).

Net interest income was $3.6 million in the fourth quarter (Q4 2011: $3.1
million) and $8.8 million for the full year (2011: $6.7 million). Adjusted
pre-tax income therefore increased by 8% year-on-year in US dollar terms to
$100.9 million in the fourth quarter (Q4 2011: $93.8 million) and increased by
2% year-on-year in US dollar terms to $247.2 million for the full year (2011:
$243.3 million).

CTC Media's adjusted effective tax rate was down year-on-year to 31% in the
fourth quarter (Q4 2011: 30%) and down to 33% for the full year (2011: 34%)
primarily due to decreases, as a percentage of consolidated income before tax,
in stock based compensation expense, and the recognition of certain foreign
tax credits that were deducted from US income tax.

Adjusted net income attributable to CTC Media, Inc. stockholders therefore
increased by 6% year-on-year in US dollar terms to $64.9 million in the fourth
quarter (Q4 2011: $61.4 million), and increased by 3% year-on-year in US
dollar terms to $157.8 million for the full year (2011: $152.6 million). The
Company reported adjusted fully diluted earnings per share of $0.41 in the
fourth quarter (Q4 2011: $0.39) and $1.00 for the full year (2011: $0.97).

Cash Flows and Financial Position

The Company's net cash flow from operating activities totaled $157.7 million
for the full year 2012 (2011: $115.8 million) and reflected the net effect of
increased advertising sales and decreased income taxes paid, partially offset
by increased programming payments. The decrease in income taxes paid was due
to the recognition of certain foreign tax credits that were deducted from US
income tax. The increase in cash paid for programming rights in 2012 was
primarily due to investments in foreign programming that was used in 2012 and
that will be used in 2013 and thereafter.

Net cash used in investing activities totaled $26.5 million for the full year
(2011: $54.6 million) and included $15.6million of capital expenditures
(mainly purchases of equipment and software for the Company's new digital
broadcasting center in Moscow and leasehold improvements for the new office
facilities, as well as purchases of cable connections), $4.0 million paid in
relation to the acquisition of regional television stations, and $6.8 million
of investments in Russian bank deposits.

Cash used in financing activities amounted to $88.9 million for the full year
of 2011 (2011: $115.0 million) and primarily reflected the payment of $82.2
million in cash dividends to the Company's stockholders and $5.8million in
dividends to minority shareholders of the Company's subsidiaries and
settlement of a $5.5 million bank overdraft, partially offset by $4.6 million
in proceeds received from the exercise of stock options.

The Company's net cash position (cash and cash equivalents and short-term
investments less interest-bearing liabilities) amounted to $173.4 million at
December 31, 2012, compared to $112.6 million at December 31, 2011 and $96.4
million at the end of the third quarter of 2012. The increase in net cash at
the end of the fourth quarter of 2012 compared to the third quarter of 2012
was mainly due to deferral of payment timing for certain content from the
fourth quarter of 2012 into 2013, as well as due to the seasonal increases in
cash receipts from advertisers as the fourth quarter is typically the most
revenue generative quarter of the year.

Full Year 2013 Outlook

Approximately 80% of CTC Media's forecast full-year 2013 Russian national
inventory is currently committed, at average prices higher than in 2012. The
Russian TV advertising market is currently expected to grow by up to 10%
year-on-year in 2013 in ruble terms. CTC Media expects its Russian television
advertising revenues to grow in line with the market in ruble terms, while the
Company's new media, CIS, sublicensing and CTC-International revenues are
expected to grow faster than the Russian TV advertising market.

The Company expects to report an OIBDA margin similar to the 2012 level of
32%, when adjusted for impairment charges incurred in 2012.

Transition to Digital Broadcasting

In October 2012, the Russian Federal Service for Supervision in the Sphere of
Telecommunications, Information Technologies and Mass Communications
(Roskomnadzor) announced the terms of a tender for a second digital multiplex,
the results of which were announced on December 14, 2012. A total of 10
channels, including CTC and Domashny, were selected for inclusion in the
second multiplex. Governmental authorities have also announced that the
existing analog broadcasting system will be switched off in stages during the
rollout period, and indicated regional deadlines ranging from 2014 to 2017.

According to the terms of the tender, CTC Media must enter into 10-year
transmission agreements with the Russian television and radio network (RTRS),
a transmission provider. Governmental authorities have indicated that each
channel participating in the second multiplex will be expected to pay up to
$26million annually in transmission fees. In the transition period, these
transmission fees are expected to be lower and are to be paid by the way of
stage payments as the rollout progresses. As of the date of this press
release, CTC Media is still in the process of negotiations with RTRS and
expects to sign the transmission agreements in March 2013. In addition,
governmental authorities announced plans to introduce a third multiplex and
indicated that the tender for participation in the third multiplex will be
held by the end of 2013. Currently, the terms for participation in the third
multiplex are unknown.

Considering the recent developments regarding the expected terms of digital
broadcasting, the Company has determined that the lives of its analog
broadcasting licenses are no longer indefinite. Accordingly, the Company
tested its broadcasting licenses for impairment as of September 30, 2012, and
commenced amortization from October 1, 2012. The estimated effect of this
change is expected to result in additional amortization expense of
approximately $18.6 million in 2013, $18.6 million in 2014, $17.7 million in
2015, $12.3 million in 2016, $9.7 million in 2017 and $4.3 million in 2018.

Increased Dividends

The CTC Media Board of Directors currently intends to pay cash dividends of
$0.63 per share (or up to $100 million in the aggregate) in 2013, a
year-on-year increase of 21% compared to cash dividends of $0.52 per share (or
$82.2 million in the aggregate) paid in 2012, and has declared a dividend of
$0.15 per outstanding share of common stock, or approximately $24 million in
total, to be paid on or about March 29, 2013 to stockholders of record as of
March 20, 2013. Although it is the Board's current intention to declare and
pay further dividends in the remaining quarters of 2013, there can be no
assurance that such additional dividends will in fact be declared and paid.
Any such declaration is at the discretion of the Board and will depend upon
factors such as CTC Media's earnings, financial position and cash
requirements.

2013 Equity Incentive Plan; Options Exchange; Stock Repurchase Program

On March 4, 2013, CTC Media's Board of Directors approved the Company's 2013
Equity Incentive Plan (the "Plan"), which will be submitted to the
stockholders for approval at the 2013 annual meeting. The Plan provides for
the grant of a variety of forms of awards to acquire up to an aggregate of 2.5
million shares of common stock. The Compensation Committee of the Board has,
subject to stockholder approval of the Plan, approved an initial round of
awards to the Company's employees in the form of restricted share units
("RSUs") to acquire up to 2.0 million shares of common stock. The RSU awards
will entitle the grantees to receive shares of common stock, at no cost, upon
the satisfaction of performance-based vesting conditions over a period of
three years from grant, which will become exercisable on a staggered basis
over a period of four years from grant. Exercise will be subject to the
condition that the closing price of the Company's common stock has exceeded
$12.00 per share on at least ten trading days prior to exercise. We believe
that such awards will provide appropriate incentives to the Company's
employees, and better align their interests with those of CTC Media's
stockholders, as the vast majority of the Company's currently outstanding
equity awards have exercise prices substantially higher than the trading price
of its common stock over the past 12 months.

As a condition to the receipt of an award under the Plan, any employee that
holds an outstanding option award under the Company's 2009 Equity Incentive
Plan will be required to forfeit the unvested portion of such award; the
vested portion of outstanding option awards will remain unaffected by the new
program.

In addition, on March 4, 2013 the Board of Directors approved an open market
stock repurchase program, pursuant to which the Company will repurchase up to
2.5 million shares of Common Stock in the market for use under the Plan.We
believe this program will have the benefit of limiting dilution ofour
shareholders' equity following the grant of awards under the Plan.

Conference Call

The Company will host a conference call to discuss its 2012 fourth quarter
financial results today, Wednesday, March 6^th, 2013, at 8:00 a.m. ET (5:00
p.m. Moscow time, 1:00 p.m. London time). To access the conference call,
please dial:

  +1 631 510 7498 (US/International)
  +44 (0) 1452 555 566 (UK/International)
  Pass code: 97869390

A live webcast of the conference call will also be available via the investor
relations section of the Company's corporate web site -
www.ctcmedia.ru/investors. The webcast will also be archived on the Company's
web site for two weeks.

About CTC Media, Inc.

CTC Media is a leading independent media company in Russia, with operations
throughout Russia and in a number of other CIS markets. It operates three
free-to-air television networks in Russia – CTC, Domashny and Peretz – as well
as Channel 31 in Kazakhstan and a TV company in Moldova, with a combined
potential audience of over 150 million people. The international pay-TV
version of the CTC channel is available in North America, Europe, North
Africa, the Middle East, Central and South East Asia. CTC Media also has its
own TV content production capabilities through its Story First Production
subsidiary. The Company's common stock is traded on the NASDAQ Global Select
Market under the symbol "CTCM". For more information about CTC Media, please
visit www.ctcmedia.ru.

The CTC Media, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9587

Use of Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and
presented in accordance with US GAAP, the Company uses the following non-GAAP
financial measures: OIBDA (on a consolidated and segment basis) and OIBDA
margin, as well as certain adjusted figures described below. The presentation
of this financial information is not intended to be considered in isolation or
as a substitute for, or superior to, financial information prepared and
presented in accordance with GAAP. For more information on these non-GAAP
financial measures, please see the accompanying financial tables included at
the end of this release.

The Company uses these non-GAAP financial measures for financial and
operational decision making and as a means to evaluate period-to-period
comparisons. The Company believes that these non-GAAP financial measures
provide meaningful supplemental information regarding its performance and
liquidity by excluding certain expenses that may not be indicative of its
recurring core business operating results. These metrics are used by
management to further its understanding of the Company's operating performance
in the ordinary, ongoing and customary course of operations. The Company also
believes that these metrics provide investors and equity analysts with a
useful basis for analyzing operating performance against historical data and
the results of comparable companies.

OIBDA and OIBDA margin. OIBDA is defined as operating income before
depreciation and amortization. OIBDA margin is defined as OIBDA divided by
total operating revenues. The most directly comparable GAAP measures to OIBDA
and OIBDA margin are operating income and operating income margin,
respectively. Unlike operating income, OIBDA excludes depreciation and
amortization, other than amortization of programming rights and sublicensing
rights. The purchase of programming rights is the Company's most significant
expenditure that enables it to generate revenues, and OIBDA includes the
impact of the amortization of these rights. Expenditures for capital items
such as property, plant and equipment have a materially less significant
impact on the Company's ability to generate revenues. For this reason, the
Company excludes the related depreciation expense for these items from OIBDA.
Moreover, a significant portion of the Company's intangible assets were
acquired in business acquisitions. The amortization of intangible assets is
therefore also excluded from OIBDA.

Adjusted financial measures.

As described above, CTC Media recognized $11.1 million in intangible asset
impairment charges arising from the impairment of the DTV trade name
(following the rebranding of this channel to Peretz) and $95.2 million in
intangible asset impairment charges related to goodwill and broadcasting
licenses in 2011. In addition, in the third quarter of 2012, CTC Media
recognized $82.5 million in impairment charges related to analog broadcasting
licenses reflecting the reassessment of their useful lives from indefinite to
finite as a result of the planned transition to digital broadcasting. CTC
Media uses adjusted OIBDA (on a consolidated and segment basis), adjusted
total operating expenses (before non-recurring items), adjusted operating
income, adjusted net income before tax and noncontrolling interest, adjusted
income tax expense, adjusted effective tax rate, adjusted net income and
adjusted diluted earnings per share, each of which has been adjusted to
exclude the non-recurring charges described above, so as to permit management
to assess and compare the operational performance of the business for the
fourth quarters of 2011 and 2012, and the full year 2011 and 2012, and to
facilitate comparisons for future reporting periods.

Caution Concerning Forward Looking Statements

Certain statements in this press release that are not based on historical
information are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995.Such forward-looking statements
include, among others, statements regarding the introduction of digital
broadcasting in our markets, developments in the volume and pricing of
television advertising in the Company's target markets; the Company's
anticipated advertising sellout in 2013; the further development of the Peretz
and Domashny channels; the Company's expected rate of its full year 2013 OIBDA
margin; and the Company's expected increase of its total operating revenues in
ruble terms in 2013. These statements reflect the Company's current
expectations concerning future results and events. These forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of CTC Media
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.

The potential risks and uncertainties that could cause actual future results
to differ from those expressed by forward-looking statements include, among
others, the success of the Company's transition of CTC and Domashny to the new
digital broadcasting format, the impact of the introduction of digital
broadcasting on the Company's business models and plans, changes in the size
of the Russian television advertising market; the continued successful
operation of the Company's own internal sales house structure; fluctuations in
the value of the Russian ruble compared to the US dollar; the Company's
ability to deliver audience share, particularly in primetime, to its
advertisers; free-to-air television remaining a significant advertising forum
in Russia; and restrictions on foreign involvement in the Russian television
business. These and other risks are described in the "Risk Factors" section of
CTC Media's annual report on Form 10-K filed with the SEC on or about the date
hereof.

Other unknown or unpredictable factors could have material adverse effects on
CTC Media's future results, performance or achievements. In light of these
risks, uncertainties, assumptions and factors, the forward-looking events
discussed herein may not occur. You are cautioned not to place undue reliance
on these forward-looking statements. CTC Media does not undertake any
obligation to publicly update or revise any forward-looking statements because
of new information, future events or otherwise.

CTC MEDIA, INC, AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(in thousands of US dollars, except share and per share data)
                                                                
                                          Year ended December31,
                                          2010        2011        2012
REVENUES:                                                        
Advertising                               $562,102  $747,451  $775,806
Sublicensing and own production revenue   37,931      15,836      23,706
Other revenue                             1,252       3,073       5,434
Total operating revenues                  601,285     766,360     804,946
EXPENSES:                                                        
Direct operating expenses (exclusive of
amortization of programming rights,
sublicensing rights and own production
cost, shown below; exclusive of
depreciation and amortization of $11,502,  (37,547)    (43,684)    (45,357)
$13,201 and $20,393 in 2010, 2011 and
2012, respectively; and exclusive of
stock‑based compensation expense of
$10,586, $6,242 and $763 in 2010, 2011 and
2012, respectively)
Selling, general and administrative
(exclusive of depreciation and
amortization $2,234, $4,448 and $3,625 in
2010, 2011 and 2012, respectively;         (69,849)    (165,176)   (181,266)
exclusive of stock‑based compensation
expense of $23,419, $12,076 and $4,016 in
2010, 2011 and 2012, respectively)
Stock‑based compensation expense          (34,005)    (18,318)    (4,779)
Programming expenses                      (239,030)   (292,466)   (317,136)
Depreciation and amortization (exclusive
of amortization of programming rights and  (13,736)    (17,649)    (24,018)
sublicensing rights)
Impairment loss                           —           (106,382)   (82,503)
Total operating expenses                  (394,167)   (643,675)   (655,059)
OPERATING INCOME                          207,118     122,685     149,887
FOREIGN CURRENCY GAINS                    1,820       2,034       1,762
INTEREST INCOME                           6,018       7,222       9,522
INTEREST EXPENSE                          (1,169)     (542)       (749)
OTHER NON-OPERATING INCOME, net           2,789       4,667       2,852
EQUITY IN INCOME OF INVESTEE COMPANIES    490         853         1,415
Income before income tax                  217,066     136,919     164,689
INCOME TAX EXPENSE                        (66,034)    (76,403)    (64,873)
CONSOLIDATED NET INCOME                   $151,032  $60,516   $99,816
LESS: INCOME ATTRIBUTABLE TO               $(5,301)  $(7,398)  $(6,753)
NONCONTROLLING INTEREST
NET INCOME ATTRIBUTABLE TO CTC MEDIA,INC. $145,731  $53,118   $93,063
STOCKHOLDERS
Net income per share attributable to CTC   $0.94     $0.34     $0.59
Media,Inc. stockholders—basic
Net income per share attributable to CTC   $0.93     $0.34     $0.59
Media,Inc. stockholders—diluted
Weighted average common shares             155,576,658 157,224,782 157,995,346
outstanding—basic
Weighted average common shares             156,092,038 158,011,659 158,062,250
outstanding—diluted
Dividends declared per share              $0.51     $0.82     $0.52

CTC MEDIA, INC, AND SUBSIDIARIES
UNAUDITED CONSOLIDATED BALANCE SHEETS
(in thousands of US dollars, except share and per share data)
                                                                
                                                    December31, December31,
                                                    2011         2012
ASSETS                                                           
CURRENT ASSETS:                                                  
Cash and cash equivalents                           $12,331    $55,181
Short-term investments                              117,233      131,449
Trade accounts receivable, net of allowance for
doubtful accounts (December31, 2011–$977;           21,831       30,549
December31, 2012–$1,136)
Taxes reclaimable                                   20,311       29,855
Prepayments                                         57,091       68,078
Programming rights, net                             106,947      153,076
Deferred tax assets                                 20,086       31,355
Other current assets                                1,351        1,860
TOTAL CURRENT ASSETS                                357,181      501,403
PROPERTY AND EQUIPMENT, net                         46,299       47,201
INTANGIBLE ASSETS, net:                                          
Broadcasting licenses                               158,794      82,276
Cable network connections                           28,148       25,616
Trade names                                         5,213        5,708
Other intangible assets                             5,317        5,739
Net intangible assets                               197,472      119,339
GOODWILL                                            165,566      177,950
PROGRAMMING RIGHTS, net                             92,134       102,216
INVESTMENTS IN AND ADVANCES TO INVESTEES            5,041        5,743
PREPAYMENTS                                         4,009        11,522
DEFERRED TAX ASSETS                                 26,015       20,200
                                                                
TOTAL ASSETS                                        $893,717   $985,574
LIABILITIES AND STOCKHOLDERS' EQUITY                             
CURRENT LIABILITIES:                                             
Bank overdraft                                      16,941       13,181
Accounts payable                                    69,891       80,871
Accrued liabilities                                 21,393       23,445
Taxes payable                                       31,905       37,524
                                                                
Deferred revenue                                    7,367        9,048
Deferred tax liabilities                            12,613       39,021
TOTAL CURRENT LIABILITIES                           160,110      203,090
DEFERRED TAX LIABILITIES                            36,399       19,558
COMMITMENTS AND CONTINGENCIES                       —            —
STOCKHOLDERS' EQUITY:                                            
Common stock; $0.01 par value; shares authorized
175,772,173; shares issued and outstanding           1,573        1,582
2011–157,320,070; 2012– 158,160,719)
Additional paid-in capital                          481,969      491,925
Retained earnings                                   322,184      333,003
Accumulated other comprehensive loss                (111,754)    (68,187)
Non-controlling interest                            3,236        4,603
TOTAL STOCKHOLDERS' EQUITY                          697,208      762,926
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY          $893,717   $985,574

CTC MEDIA, INC, AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands of US dollars)
                                                                  
                                               Year ended December31,
                                               2010       2011      2012
CASH FLOWS FROM OPERATING ACTIVITIES:                              
Consolidated net income                        $151,032 $60,516 $99,816
Adjustments to reconcile net income to net cash                    
provided by operating activities:
Deferred tax (benefit) expense                 1,449      (6,866)   (741)
Depreciation and amortization                  13,736     17,649    24,018
Programming expenses                           239,030    292,466   317,136
Stock‑based compensation expense               34,005     18,318    4,779
Equity in income of unconsolidated investees   (490)      (853)     (1,415)
Foreign currency gains                         (1,820)    (2,034)   (1,762)
Impairment loss                                —          106,382   82,503
Changes in provision for tax contingencies     (2,752)    (3,381)   (3,738)
Changes in operating assets and liabilities:                       
Trade accounts receivable                      (11,816)   15,498    (10,885)
Prepayments                                    (3,123)    (6,852)   (817)
Other assets                                   (6,672)    (4,161)   (2,972)
Accounts payable and accrued liabilities       6,457      (616)     12,637
Deferred revenue                               7,239      (5,073)   890
Other liabilities                              10,042     (6,824)   1,400
Dividends received from equity investees       509        841       1,056
Settlement of SARs and exercises of             (786)      (598)     (35)
equity‑based incentive awards
Acquisition of programming and sublicensing     (250,488)  (358,621) (364,156)
rights
Net cash provided by operating activities      185,552    115,791   157,714
CASH FLOWS FROM INVESTING ACTIVITIES:                              
Acquisitions of property and equipment and      (29,912)   (19,780)  (15,646)
intangible assets
Acquisitions of businesses, net of cash         (23,762)   (25,033)  (3,998)
acquired
Proceeds from sale of businesses, net of cash   2,026      —         —
disposed
Investments in deposits, net                   (78,877)   (9,830)   (6,847)
Net cash used in investing activities           (130,525)  (54,643)  (26,491)
CASH FLOWS FROM FINANCING ACTIVITIES:                              
Proceeds from exercise of stock options        42,812     5,352     4,616
Proceeds from (settlement of) overdraft, net   —          17,553    (5,519)
Repayments of loans                            (35,775)   —         —
Acquisition of non-controlling interest        (1,508)    (2,927)   —
Dividends paid to stockholders                 (80,444)   (128,930) (82,244)
Dividends paid to noncontrolling interest      (4,905)    (6,072)   (5,756)
Net cash used in financing activities          (79,820)   (115,024) (88,903)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND     (83)       6,642     530
CASH EQUIVALENTS
Net increase/(decrease) in cash and cash        (24,876)   (47,234)  42,850
equivalents
CASH AND CASH EQUIVALENTS AT BEGINNING OF       84,441     59,565    12,331
PERIOD
CASH AND CASH EQUIVALENTS AT END OF PERIOD     $59,565  $12,331 $55,181
SUPPLEMENTAL DISCLOSURE OF CASH FLOW                               
INFORMATION:
Interest paid                                  $236     $81     $603
Income tax paid                                $64,950  $89,042 $58,828

CTC MEDIA, INC. AND SUBSIDIARIES
UNAUDITED SEGMENT FINANCIAL INFORMATION
(in thousands of US dollars)
                                                                                        
            Three months ended December 31, 2011
             Operating                                                                          OIBDA
             revenue    Intersegment Operating  Depreciation Programming Impairment             adjusted
            from       revenue      income/    and          expenses    loss        OIBDA      for
             external                (loss)     amortization                                    impairment
             customers                                                                          loss
CTC Network  $144,236 $177       $59,482  ($1,077)    ($55,715)   --        $60,559  $60,559
Domashny     25,610     5            5,135      (470)        (13,186)    --        5,605      5,605
Network
Peretz       18,265     --          (70,788)   (679)        (9,390)     (71,688)    (70,109)   (1,579)
Network
CTC
Television   34,146     604          21,610     (532)        (344)       (3,745)     22,142     25,887
Station
Group
Domashny
Television   5,541      957          (2,008)    (610)        (4)         (4,985)     (1,398)    3,587
Station
Group
Peretz
Television   2,211      445          (10,317)   (1,160)      (3)         (9,121)     (19,157)   (36)
Station
Group
CIS Group    5,865      --          2,711      (132)        (3,089)     --        2,843      2,843
Production   203        7,062        (164)      (8)          (6,632)     --        (156)      (156)
Group
Corporate    --         --           (5,790)    (50)         --        --          (5,740)    (5,740)
Office
Business
segment      $236,077 $9,250     ($129)    ($4,718)    ($88,363)  ($89,539)   $4,589   $94,128
results
Eliminations 680        (9,250)      (1,377)    (6)          6,740       --          (1,371)    (1,372)
and other
Consolidated $236,758 --         ($1,506)  ($4,724)    ($81,623)  ($89,539)  $3,218   $92,757
results
                                                                                        
            Three months ended December 31, 2012
             Operating                                                                          OIBDA
             revenue    Intersegment Operating  Depreciation Programming Impairment             adjusted
            from       revenue      income/    and          expenses    loss        OIBDA      for
             external                (loss)     amortization                                    impairment
             customers                                                                          loss
CTC Network  $155,738 $70        $60,685  ($1,315)    ($61,022)   --        $62,000  $62,000
Domashny     30,780     --         7,396      (345)        (15,176)    --        7,741      7,741
Network
Peretz       21,220     --         633        (759)        (10,945)    --        1,392      1,392
Network
CTC
Television   34,427     652          24,035     (1,194)      --        --        25,229     25,229
Station
Group
Domashny
Television   6,480      1,124        2,746      (1,732)      --        --        4,478      4,478
Station
Group
Peretz
Television   2,929      (5)          (2,365)    (2,745)      --        --        380        380
Station
Group
CIS Group    8,105      --         1,682      (744)        (4,975)     --        2,426      2,426
Production   462        5,953        73         (3)          (5,704)     --        76         76
Group
Corporate    --       --         (298)      (59)         --        --        (239)      (239)
Office
Business
segment      $260,141 $7,794     $94,587  ($8,896)    ($97,822)  --        $103,483 $103,483
results
Eliminations 4,092      (7,794)      255        (71)         5,177       --        326        326
and other
Consolidated $264,233 --         $94,842  ($8,967)    ($92,645)  --        $103,809 $186,312
results
                                                                                        
            Twelve months ended December 31, 2011
             Operating                                                                          OIBDA
             revenue    Intersegment Operating  Depreciation Programming Impairment             adjusted
            from       revenue      income/    and          expenses    loss        OIBDA      for
             external                (loss)     amortization                                    impairment
             customers                                                                          loss
CTC Network  $474,028 $566       $169,952 ($3,343)    ($206,816) --        $173,295 $173,295
Domashny     90,321     12           15,298     (1,422)      (46,690)    --        16,720     16,720
Network
Peretz       59,623     --         (79,757)   (2,918)      (32,908)    (82,824)    (76,839)   5,985
Network
CTC
Television   98,599     2,122        61,035     (2,157)      --        (7,278)     63,192     70,470
Station
Group
Domashny
Television   15,668     3,575        1,168      (1,997)      --        (5,398)     3,165      8,563
Station
Group
Peretz
Television   6,591      1,499        (16,568)   (4,825)      --        (10,882)    (11,743)   (861)
Station
Group
CIS Group    17,843     --         3,021      (573)        (9,841)     --        3,594      3,594
Production   378        25,966       (1,013)    --         (24,116)    --        (1,013)    (1,013)
Group
Corporate    --       976          (31,433)   (294)        --        --        (31,139)   (31,139)
Office
Business
segment      $763,051 $34,716    $121,703 ($17,529)   ($320,371) ($106,382) $139,232 $245,614
results
Eliminations 3,309      (34,716)     982        (120)        27,905      --         1,102      1,102
and other
Consolidated $766,360 --         $122,685 ($17,649)   ($292,466) ($106,382) $140,334 $246,716
results
                                                                                        
            Twelve months ended December 31, 2012
             Operating                                                                          OIBDA
             revenue    Intersegment Operating  Depreciation Programming Impairment             adjusted
            from       revenue      income/    and          expenses    loss        OIBDA      for
             external                (loss)     amortization                                    impairment
             customers                                                                          loss
CTC Network  $483,642 $357       $155,019 ($5,254)    ($221,025) --        $160,273 $160,273
Domashny     95,078     13           13,815     (1,355)      (52,555)    --        15,170     15,170
Network
Peretz       72,709     --         12,155     (3,002)      (30,687)    --        15,157     15,157
Network
CTC
Television   93,392     2,390        42,834     (2,765)      --        (19,523)    45,599     65,122
Station
Group
Domashny
Television   18,211     4,150        (9,251)    (3,886)      --        (16,224)    (5,365)    10,859
Station
Group
Peretz
Television   8,475      1,600        (48,613)   (6,287)      --        (43,795)    (42,326)   1,469
Station
Group
CIS Group    23,638     --         1,143      (1,075)      (12,963)    (2,961)     2,218      5,179
Production   860        20,324       (1,571)    --         (19,432)    --        (1,571)    (1,571)
Group
Corporate    --       --         (15,144)   (201)        --        --        (14,943)   (14,943)
Office
Business
segment      $796,005 $28,834    $150,387 ($23,825)   ($336,662) ($82,503)  $174,212 $256,715
results
Eliminations 8,941      (28,834)     (500)      (193)        19,526      --         (307)      (307)
and other
Consolidated $804,946 --         $149,887 ($24,018)   ($317,136) ($82,503)  $173,905 $256,408
results

CTC MEDIA, INC. AND SUBSIDIARIES
RECONCILIATION OF CONSOLIDATED OIBDA TO
CONSOLIDATED OPERATING INCOME (LOSS)
                                                                 
                                     Three months ended Twelve months ended
                                     December 31,        December 31,
(US$ 000's)                           2011      2012      2011       2012
                                                                 
OIBDA                                 $3,218   $103,809 $40,334   $173,905
Depreciation and amortization
(exclusive of amortization of         (4,724)   (8,967)   (17,649)   (24,018)
programming rights and sublicensing
rights)
Operating income (loss)               ($1,506) $94,842  $122,685  $149,887
                                                                 
CTC MEDIA, INC. AND SUBSIDIARIES
RECONCILIATION OF CONSOLIDATED OIBDA MARGIN TO
CONSOLIDATED OPERATING INCOME (LOSS) MARGIN
                                                                 
                                     Three months ended Twelve months ended
                                     December 31,        December 31,
                                     2011      2012      2011       2012
                                                                 
OIBDA margin                          1.4%      39.3%     18.3%      21.6%
Depreciation and amortization
(exclusive of amortization of
programming rights and sublicensing   (2.0%)    (3.4%)    (2.3%)     (3.0%)
rights) as a % of total operating
revenues
Operating income (loss) margin        (0.6%)    35.9%     16.0%      18.6%

CTC MEDIA, INC. AND SUBSIDIARIES
RECONCILIATION OF CONSOLIDATED ADJUSTED OIBDA AND OTHER ADJUSTED FINANCIAL MEASURES TO
CONSOLIDATED OIBDA AND OTHER CORRESPONDING CONSOLIDATED GAAP FINANCIAL MEASURES, RESPECTIVELY
                                                                               
(US$ 000's                                    Income before                           Fully
except per            Total        Operating  income tax and Income tax               diluted
share      OIBDA      operating    income     noncontrolling expense     Net income   earnings
data)                 expenses                interest                                per
                                                                                      share
                                                                               
Three
Months
Ended                                                                           
December
31, 2011
Adjusted
non-US     $92,757  $(148,725) $88,033  $93,830      $(28,604) $61,434    $0.39
GAAP
results
Impact of
impairment (89,539)   (89,539)     (89,539)   (89,539)       3,570       (85,969)     (0.55)
loss
Results as
reported
(under US
GAAP,
except for $3,218   $(238,264) $(1,506) $4,291       $(25,034) $(24,535)  $(0.16)
OIBDA
which is a
non-GAAP
financial
measure)
                                                                               
                                                                               
                                                                               
Twelve
Months
Ended                                                                           
December
31, 2011
Adjusted
non-US     $246,716 $(537,293) $229,067 $243,301     $(83,342) $152,561   $0.97
GAAP
results
Impact of
impairment (106,382)  (106,382)    (106,382)  (106,382)      6,939       (99,443)     (0.63)
loss
Results as
reported
(under US
GAAP,
except for
OIBDA      $140,334 $(643,675) $122,685 $136,919     $(76,403) $53,118    $0.34
which is a
non-US
GAAP
financial
measure)
                                                                               
CTC MEDIA, INC. AND SUBSIDIARIES
RECONCILIATION OF CONSOLIDATED ADJUSTED OIBDA AND OTHER ADJUSTED FINANCIAL MEASURES TO
CONSOLIDATED OIBDA AND OTHER CORRESPONDING CONSOLIDATED GAAP FINANCIAL MEASURES, RESPECTIVELY
                                                                               
                                                                         Net income   Fully
(US$ 000's            Total        Operating  Income before              (loss)       diluted
except per OIBDA      operating    income/    income tax and Income tax  attributable earnings
share                 expenses     (loss)     noncontrolling expense     to CTC       per
data)                                         interest                   Media, Inc.  share
                                                                         stockholders
                                                                               
Twelve
Months
Ended                                                                           
December
31, 2012
Adjusted
non-US     $256,408 ($572,556)  $232,390 $247,192     ($81,374)  $157,794   $1.00
GAAP
results
Impact of
impairment (82,503)   (82,503)     (82,503)   (82,503)       16,501      (64,731)     (0.41)
loss
Results as
reported
(under US
GAAP,
except for $173,905 ($655,059)  $149,887 $164,689     ($64,873)  $93,063    $0.59
OIBDA
which is a
non-GAAP
financial
measure)

CTC MEDIA, INC. AND SUBSIDIARIES
RECONCILIATION OF SEGMENT OIBDA TO SEGMENT OPERATING INCOME (LOSS)
                                                           
Three months ended                                          
December 31, 2011
                                  Depreciation and
                                  amortization (exclusive of  Operating income
(US$ 000's)              OIBDA    amortization of programming (loss)
                                  rights and
                                  sublicensing rights)
                                                           
CTC Network              $60,559  ($1,077)                    $59,482
Domashny Network         5,605    (470)                       5,135
Peretz Network           (70,109) (679)                       (70,788)
CTC Television Station   22,142   (532)                       21,610
Group
Domashny Television      (1,398)  (610)                       (2,008)
Station Group
Peretz Television        (19,157) (1,160)                     (10,317)
Station Group
CIS Group                2,843    (132)                       2,711
Production Group         (156)    (8)                         (164)
Corporate Office         (5,740)  (50)                        (5,790)
Business segment results $4,589   ($4,718)                    ($129)
Eliminations and other   (1,371)  (6)                         (1,377)
Consolidated results    $3,218   ($4,724)                    ($1,506)
                                                           
Three months ended                                          
December 31, 2012
                                  Depreciation and
                                  amortization (exclusive of  Operating income
(US$ 000's)              OIBDA    amortization of programming (loss)
                                  rights and
                                  sublicensing rights)
                                                           
CTC Network              $62,000  ($1,315)                    $60,685
Domashny Network         7,741    (345)                       7,396
Peretz Network           1,392    (759)                       633
CTC Television Station   25,229   (1,194)                     24,035
Group
Domashny Television      4,478    (1,732)                     2,746
Station Group
Peretz Television        380      (2,745)                     (2,365)
Station Group
CIS Group                2,426    (744)                       1,682
Production Group         76       (3)                         73
Corporate Office         (239)    (59)                        (298)
Business segment results $103,483 ($8,896)                    $94,587
Eliminations and other   326      (71)                        255
Consolidated results     $103,809 ($8,967)                    $94,842
                                                           
Twelve months ended                                         
December 31, 2011
                                  Depreciation and
                                  amortization (exclusive of  Operating income
(US$ 000's)              OIBDA    amortization of programming (loss)
                                  rights and
                                  sublicensing rights)
                                                           
CTC Network              $173,295 ($3,343)                    $169,952
Domashny Network         16,720   (1,422)                     15,298
Peretz Network           (76,839) (2,918)                     (79,757)
CTC Television Station   63,192   (2,157)                     61,035
Group
Domashny Television      3,165    (1,997)                     1,168
Station Group
Peretz Television        (11,743) (4,825)                     (16,568)
Station Group
CIS Group                3,594    (573)                       3,021
Production Group         (1,013)  --                        (1,013)
Corporate Office         (31,139) (294)                       (31,433)
Business segment results $139,232 ($17,529)                   $121,703
Eliminations and other   1,102    (120)                       982
Consolidated results    $140,334 ($17,649)                   $122,685
                                                           
Twelve months ended                                         
December 31, 2012
                                  Depreciation and
                                  amortization (exclusive of  Operating income
(US$ 000's)              OIBDA    amortization of programming (loss)
                                  rights and
                                  sublicensing rights)
                                                           
CTC Network              $160,273 ($5,254)                    $155,019
Domashny Network         15,170   (1,355)                     13,815
Peretz Network           15,157   (3,002)                     12,155
CTC Television Station   45,599   (2,765)                     42,834
Group
Domashny Television      (5,365)  (3,886)                     (9,251)
Station Group
Peretz Television        (42,326) (6,287)                     (48,613)
Station Group
CIS Group                2,218    (1,075)                     1,143
Production Group         (1,571)  --                        (1,571)
Corporate Office         (14,943) (201)                       (15,144)
Business segment results $174,212 ($23,825)                   $150,387
Eliminations and other   (307)    (193)                       (500)
Consolidated results     $173,905 ($24,018)                   $149,887

CONTACT: For further information,
         please visit www.ctcmedia.ru or contact:
        
         Ekaterina Ostrova
         Director, Corporate Communications
         and Investor Relations
         + 7 495 783 3650
         ir@ctcmedia.ru
        
         Irina Klimova
         Senior Manager, Investor Relations
         +7 495 981 0740
         ir@ctcmedia.ru
        
         Viktoriya Bakaeva
         Head of Media Relations, Press Secretary
         +7 495 785 6347, ext. 1210
         pr@ctcmedia.ru

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