Central European Media Enterprises Ltd. Announces Public Offering of Common Stock

Central European Media Enterprises Ltd. Announces Public Offering of Common
Stock

HAMILTON, Bermuda, April 29, 2013 (GLOBE NEWSWIRE) -- Central European Media
Enterprises Ltd. ("CME") (Nasdaq:CETV) (Prague Stock Exchange:CETV) announced
today that it has commenced an underwritten public offering to raise aggregate
gross proceeds of $174,000,000 through the sale of shares of its Class A
common stock, par value $0.08 per share ("Class A common stock"), pursuant to
an effective shelf registration statement filed with the Securities and
Exchange Commission ("SEC"). All of the shares are being offered by CME.

J.P. Morgan Securities LLC is acting as the sole book-running manager for the
offering.CME intends to grant the underwriters an option to purchase
additional shares of Class A common stock up to 15% of the amount sold in the
offering.Time Warner Media Holdings B.V. ("Time Warner"), an affiliate of
Time Warner Inc. and CME's largest shareholder, has notified CME that it
intends to exercise its preexisting contractual preemptive right to purchase
49.9% of the number of shares of Class A common stock sold in the offering,
subject to certain limitations. The offering is subject to market conditions,
and there can be no assurance as to whether or when the offering may be
completed, or as to the final size or terms of the offering.

In addition, subject to the consummation of this offering with no less than
$75,000,000 in gross proceeds to CME (excluding any proceeds from Time
Warner's exercise of its contractual preemptive right and from the
underwriters' exercise of their option to purchase additional shares of Class
A common stock), approval by our shareholders and certain other conditions,
CME will sell to Time Warner $200,000,000 of its Series B Convertible
Redeemable Preferred Stock, par value $0.08 per share ("Series B Convertible
Redeemable Preferred Stock"), a new series of its preferred stock, in a
private placement.

CME intends to apply $300,000,000 of the aggregate net proceeds from the
public offering and the issuance and sale to Time Warner of shares of Series B
Convertible Redeemable Preferred Stock to fund the repurchase or redemption of
a portion of CME's 11.625% senior notes due 2016.CME intends to use the
remainder of the net proceeds from the public offering for general corporate
purposes.

This press release shall not constitute an offer to sell or a solicitation of
an offer to buy any securities nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws
of such state or jurisdiction.The public offering is being made under CME's
shelf registration statement that has been declared effective by the SEC, and
CME has filed a preliminary prospectus supplement with the SEC for the
offering to which this communication relates.The offering of securities will
be made only by means of the preliminary prospectus supplement and the
accompanying prospectus.Before you invest, you should read the preliminary
prospectus supplement and the accompanying prospectus and any other document
CME has filed with the SEC for more complete information about CME and the
offering.You may obtain these documents for free by visiting EDGAR on the SEC
Website at www.sec.gov. Alternatively, copies of the preliminary prospectus
supplement and the accompanying prospectus can be obtained by contacting J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717 or by calling 1-866-803-9204.

About CME

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, Fanda, Smichov, Telka and MTV Czech), Romania (PRO TV, PRO
TV International, Acasa, Acasa Gold, PRO Cinema, Sport.ro, MTV Romania and PRO
TV Chisinau and Acasa Moldova), the Slovak Republic (TV Markíza, Doma, Dajto
and Fooor), and Slovenia (POP TV, Kanal A, BRIO, OTO and KINO). CME also
operates Voyo, the pan-regional video-on-demand service. CME is traded on the
NASDAQ Global Select Market and the Prague Stock Exchange under the ticker
symbol "CETV".

Forward-Looking and Cautionary Statements

This press release includes statements regarding the offering of shares of
Class A common stock and the issuance and sale of Series B Convertible
Redeemable Preferred Stock to Time Warner that may constitute forward-looking
statements. Such forward-looking statements are subject to a variety of known
and unknown risks, uncertainties, and other factors that are difficult to
predict and many of which are beyond management's control.Known material
risks, uncertainties and other factors that can affect future results are
discussed or incorporated by reference in the preliminary prospectus
supplement for the Class A common stock offering described herein and periodic
reports under the Securities Exchange Act of 1934, as amended, filed by CME
from time to time with the SEC. CME undertakes no obligation to update or
revise any forward-looking statement to reflect new information or events.

CONTACT: For further information, please contact:
        
         David Sach
         Chief Financial Officer
         Central European Media Enterprises
         +420 242 465 525
 
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