Central European Media In Pact with Time Warner, Ronald Lauder; TWX Will Provide $300M Loan, TWX and RSL Will Buy 11.5M Shares at $7.51

Central European Media Enterprises Ltd. ("CME") CETV (Prague Stock Exchange:CETV) announced today that it has entered into a series of agreements with its major shareholders, Time Warner Inc. ("TW") and Ronald Lauder, to enable CME to fund tender offers to purchase up to an aggregate of $300 million of its 3.50% Senior Convertible Notes due 2013, Senior Floating Rate Notes due 2014 and 11.625% Senior Notes due 2016 (the "Debt Tender Offers") that were just announced by CME. Pursuant to the various agreements