REG-Rambler Media Limited Statement re UPDATE ON SALE OF BEGUN TO GOOGLE

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Thu Oct 23, 2008 11:51am EDT 

LONDON--(Business Wire)--


                        UPDATE ON SALE OF BEGUN TO GOOGLE

Rambler Media Ltd. ("Rambler" or "the Company"), operating one of Russia's most
popular internet brands, notes that the Russian Federal Anti-Monopoly Service
(FAS) has today issued a statement in which it refuses Google's application to
acquire 100% of Rambler's contextual advertising company ZAO Begun ("Begun").
Rambler continues to own 50.1% of Begun until further notice.

The Company will provide a third quarter trading update in early November.

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*T
For further information, please visit www.ramblermedia.com or contact:

Rambler Media                                                              Shared Value Limited
Alexander Kovalev                                                          Nicolas Duperrier
Tel. +7 495 500 3619                                                       Tel. +44 (0) 20 7321 5010
                                                                           rambler@sharedvalue.net

ING Wholesale Banking
Daniel Friedman / Francis Moore
Tel. +44 (0) 20 7767 1000
*T

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ABOUT RAMBLER MEDIA

Rambler Media is an internet media and services group which operates or has
interests in leading Russian language internet brands including the original
Russian internet homepage and search engine 'Rambler.ru', on-line newspaper
'Lenta.ru', product comparison website 'Price.ru', internet catalogue and
navigation system 'Top 100', instant messaging service 'Rambler-ICQ', digital
advertising agency 'Index20' and contextual advertising company 'Begun'. Rambler
Media's shares are traded on AIM, the junior market of the London Stock Exchange
under the symbol 'RMG'. For more information on Rambler Media, visit our
corporate website at www.ramblermedia.com.

This release contains certain forward-looking statements with respect to the
financial condition, results of operations and business of the Company. These
forward-looking statements represent the Company's expectations or beliefs
concerning future events and involve known and unknown risks and uncertainties
that could cause actual results, performance or events to differ materially from
those expressed or implied in such statements. Nothing in this disclaimer is
intended to nor does it affect the Company's obligations and responsibilities
pursuant to the AIM Rules for Companies.

Rambler Media Limited

Copyright Business Wire 2008
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