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

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

HAMILTON, Bermuda, May 3, 2013 (GLOBE NEWSWIRE) -- Central European Media
Enterprises Ltd. ("CME") (Nasdaq:CETV) (Prague Stock Exchange:CETV) announced
today the pricing of an underwritten public offering of 54,436,582 shares of
its Class A common stock, par value $0.08 per share ("Class A common stock")
at a public offering price of $2.75 per share before underwriting discounts
and commissions.

J.P. Morgan Securities LLC is acting as the sole book-running manager for the
offering. CME has granted the underwriters an option to purchase from CME up
to an additional 5,443,658 shares of Class A common stock.Time Warner Media
Holdings B.V. ("Time Warner"), an affiliate of Time Warner Inc. and CME's
largest shareholder, has exercised its preexisting contractual preemptive
right and has committed 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 expected to close on May 8, 2013, subject to customary closing
conditions. In addition, subject to the closing of this offering and 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

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 only through
the prospectus supplement and accompanying prospectus, which is part of a
registration statement that was declared effective by the SEC on May 22, 2012.
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 when available, the final prospectus supplement and the
accompanying prospectus relating to this offering 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

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 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
Press spacebar to pause and continue. Press esc to stop.