CTC Media Lowers FY2011 Growth Forecast to 15%

CTC Media, Inc (Nasdaq: CTCM) announces that the Company is revising its full year total revenues growth forecast for 2011 from approximately 20% growth year-on-year, to approximately 15% growth year-on-year, in ruble terms, when adjusting the 2010 revenues to exclude commissions payable to Video International for the direct sales of CTC Media's advertising inventory in Russia in 2010.

The Company reiterates its OIBDA margin forecast of between 34% and 36% for the full year 2011, which is equivalent to between 38% and 40% under the terms of the advertising sales structure in place prior to 2011.