Investor Meeting New York, 21st September 2006

1. Investor Meeting New York, 21st September 2006

2. Business Overview Michael Garin, CEO

3. Safe Harbour Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the anticipated results as a consequence of certain risks and uncertainties, including but not limited to general economic conditions in the markets in which the Company operates, and other risks detailed from time to time in the Company’s Securities and Exchange Commission Filings.

4. CME Introduction for Newcomers Management Team 2006 Achievements New Media Strategy Ukraine Growth Opportunities Apax Investment Contents

5. Key investment considerations • 12 years of experience operating leading TV stations in Central and Eastern Europe • High growth investment proxy for pan-CEE consumer spending • Diversified portfolio of six countries with combined population of 91 million and GDP of about US$ 430 billion • Transparency through NASDAQ and Prague Stock Exchange regulation

6. Strong market positions Multichannel profitability • Leading TV stations in our five main markets with large and loyal audiences • Free to air dominance supports multichannel profitability Growing markets Attractive market structure • Advertisers competing for increasing consumer spending and limited air time • Limited free to air licenses • Low competition from state TV High audience share, high margins, unique assets Unique assets & focused growth

7. CME original1 stations combined segment net revenue 2005, up 154% since 2000 Our markets outperform Western Europe Our revenue growth has historically exceeded regional forecasts TV advertising spending indices 2000 - 2008 Index to 2000=100 Eastern Europe Western Europe Source: CME estimates based on ZenithOptimedia data 1 Original stations comprise operations in Romania, Slovak Republic, Slovenia and Ukraine. Revenues are not adjusted for exchange rates. TV advertising spend indices are actual to 2005 and forecasts for 2006-2008.

8. We have considerable headroom for growth TV advertising spending per capita 2005: CME vs. Eastern Europe vs. Western Europe Opportunity: Eastern European average converges towards Western European average US$ Opportunity: CME markets grow towards Eastern European average * Eastern Europe excludes CME markets Source: CME estimates based on ZenithOptimedia data (June 2006)

9. We convert audience share to profit 2005 All Day Audience Share and Revenue Share Combined Segment EBITDA Margin 34% 2.1x 1.8x 30% 2.2x 2.7x 26% 23% 14% 1.3x Audience Share x Power Ratio = Revenue Share Revenue x EBITDA Margin = Profit Sources: Audience share data: Czech Republic, Mediaresearch; Slovak Republic, Visio / MMK; Slovenia, Peoplemeters AGB Media Services; Romania, Peoplemeters Taylor Nelson Sofres; Ukraine, Peoplemeters GFK USM. Revenue share: CME segment revenue data and CME estimate of segment market size. Segment EBITDA data: CME. For a reconciliation of non-GAAP financial measures presented here to most comparable GAAP financial measures, please see the corresponding reconciliation slides on pages 52 and 53 of the 2Q2006 Investor Presentation, which is published on our website at www.cetv-net.com.

10. Michael Garin Chief Executive Officer Marina Williams Executive VP Adrian Sarbu Regional Director Czech Republic, Romania, Slovak Republic Wallace Macmillan Chief Financial Officer Marijan Jurenec Regional Director Adriatic Region Operational Management Team

11. 2006 Achievements Regional management structure implemented Corporate Management New sales team, double digit price increase, ratings maintained, cost reduction, three year guidance for revenues and EBITDA Czech Republic Restructuring Expand multi-channel offerings Launch of Kino (Cinema) and City channels in Ukraine Control of Markíza, additional 5% in Pro TV Increase shareholdings in existing operations New media opportunities Strategy developed and initial investment commitment of US$ 5m

12. Cable, satellite, DTT and new media provide additional platforms for our content • We already deliver multiple channels in our top five markets • We plan to launch additional thematic channels • Free to air TV is currently the major advertising medium and will continue to be in the medium-term • No additional national analogue terrestrial license possible • Automatic carriage on DTT networks Free to Air Dominance Multichannel Profitability TV – Multichannel – New Media

13. New media is a future opportunity Broadband household penetration forecast (%) US Internet advertising expenditure as a % of total advertising expenditure Source: ZenithOptimedia (Advertising Expenditure Forecasts: June 2006) Source: CME, Informa Source: CME, Informa

14. 24ur.com Total Visits / Month 2001 – 2005 (in millions) Czech Republic Slovenia Nova.cz Total Visits / Month 2001 – 2005 (in millions) Bar Big Brother Superstar2 Superstar1 Test the Nation 2 Test the Nation 1 Source: CME Source: CME • TV Nova site attracted 1.3 million unique users in August 2005 and matched No. 3 portal in the market • 24ur.com is the No.1 local news portal • 2005 revenues of US$ 1.8m TV brands drive Internet audience

15. Leverage existing brands Relaunch News websites • TV brands drive Internet audience • News is our core proposition Content delivery Communities • Our key asset is content, we need to make it available on new platforms • TV creates communities, we need to attract them online New Media Strategy Disciplined Investment

16. Contextual/Search advertising Sponsorships Revenue Streams Telephony Premium subscription services Pay Per View services Where is the money in new media? Banner advertisements

17. US$ 280m US$ 1 billion 2010/11 2005 Ukraine growth opportunities Rapid growth in the TV advertising market in Ukraine is expected to continue • Necessary to build audience share by developing niche channels • Any acquisitions will be at premium to CME multiple with potential of large growth and margin upside • Target in 5 years: Ukraine group with margins exceeding Czech Republic and Romania Source: Video International Sales House

18. Apax Partners invests in CME • Apax invested US$ 190m to acquire an interest in CME • Ronald Lauder retains voting control in CME • Apax is willing to explore M&A opportunities alongside CME • Apax is a long-term investor adding valuable expertise to our Board • Strong stamp of approval for CME and its strategy