Central European Media Enterprises Ltd. Announces an Exchange of Senior Convertible...

Central European Media Enterprises Ltd. Announces an Exchange of Senior
Convertible Notes Due 2013 for Senior Convertible Notes Due 2015

HAMILTON, Bermuda, June 24, 2011 (GLOBE NEWSWIRE) -- Central European Media
Enterprises Ltd. ("CME") (Nasdaq:CETV) (Prague Stock Exchange:CETV) today
announced its agreement to repurchase, in privately negotiated transactions,
approximately $52.3 million aggregate principal amount of its 3.50% senior
convertible notes due 2013 (the "2013 notes"). In exchange for their 2013 notes,
holders will receive approximately $52.3 million aggregate principal amount of
5.0% senior convertible notes due 2015 (the "2015 notes") and cash consideration
of approximately $4.6 million, including a net interest payment in respect of
accrued interest on the 2013 notes and the 2015 notes. The exchange is being
conducted pursuant to Section 3(a)(9) of the U.S. Securities Act of 1933, as
amended (the "Securities Act") and is expected to complete on June 30, 2011.

CME initially issued $206.3 million aggregate principal amount of 2015 notes on
February 18, 2011, as reported on a Form 8-K filed on February 22, 2011. The
2015 notes pay interest semi-annually at 5.0% per annum and mature on November
15, 2015. Upon the occurrence of certain specified events, the 2015 notes are
convertible at an initial conversion price of $50.00 per share of CME's Class A
common stock. The 2015 notes are senior obligations of CME and will rank equally
in right of payment with its existing and future senior debt. The 2015 notes are
jointly and severally guaranteed on a senior basis by two of CME's wholly-owned
subsidiaries and are secured by a security interest in the shares of the two
subsidiary guarantors.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities. Any offer of the securities will be made only to
existing holders of the 2013 notes pursuant to Section 3(a)(9) of the Securities
Act. The 2015 notes, the subsidiary guarantees and the shares of CME's Class A
common stock issuable upon conversion have not been registered under the
Securities Act or the securities laws of any other jurisdiction and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration.

For further information visit: www.cetv-net.com.

CONTACT: Romana Wyllie
Vice President of Corporate Communications
Central European Media Enterprises
Krizenenckeho nam. 1078/5
152 00 Praha 5
Czech Republic
+420 242 465 525