New York, June 1, 2006 — The NASDAQ Stock Market Inc. (NASDAQ^®: NDAQ) is delighted to be welcoming CTC Media (NASDAQ; CTCM) to its market.

CTC Media, Inc (CTC Media) is one of the largest commercial television broadcasters in Russia offering entertainment programming. Founded in 1989, today it operates two free-to-air Russian television networks, CTC and Domashny, and a number of owned and operated regional television stations across Russia, which broadcast CTC and Domashny programming.

Bruce Aust, Executive Vice President and Head of NASDAQ’s Corporate Client Group said, “We are excited that CTC Media has chosen NASDAQ as its US stock market. By listing on NASDAQ it joins industry leaders who value a transparent marketplace and who seek to redefine their respective industries through leadership and innovation.”

NASDAQ is also pleased to announce that CTC Media will be closing the market on Friday June 2nd at the NASDAQ Market Site in Times Square, New York, N.Y.

NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.

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Media Contact:
Harriet Benson
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