8th Aug 2007 07:00
RAMBLER MEDIA COMPLETES ACQUISITION OF STAKE IN BEGUN Further to its announcement dated 31 July 2007, Rambler Media Ltd. ("Rambler" or"the Group"), a leading provider of internet and media services to the globalRussian-speaking community, today announces that its wholly owned subsidiary,Vieli Enterprises Ltd., has now completed its acquisition of a 25% stake incontextual advertising company ZAO Begun ("Begun") following the satisfaction ofall conditions precedent stipulated in the sale and purchase agreement. Theacquisition, for a cash consideration of US$18 million, brings the Group's totalownership in Begun to 50.1%. Begun becomes a consolidated subsidiary of Ramblerwith immediate effect. Begun is one of Russia's leading search and contextual text based advertisingplatforms with a network of 35,000 individual advertisers and over 50,000partner distribution sites. Rambler.ru is Begun's main traffic generatoraccounting for approximately 20% of Begun's traffic. \* TFor further information, please visit www.ramblermedia.com or contact: Rambler Media Shared Value LimitedMark Opzoomer Nicolas DuperrierTel. +7 495 500 3826 Tel. +44 (0) 20 7321 5010 [email protected] ING Wholesale BankingDaniel Friedman / William MarleTel. +44 (0) 20 7767 1000\* T ABOUT RAMBLER MEDIA Rambler Media is a diversified Russian language media and services group whichoperates or has interests in leading internet properties including the oldestRussian internet portal and search engine 'Rambler.ru', on-line newspaper'Lenta.ru', price comparison website 'Price.ru', internet tracking system'Rambler Top 100', instant messaging service 'Rambler-ICQ', high-tech portal'Ferra.ru', interactive advertising Group 'Index20' and 'contextual advertisingcompany 'Begun'. Rambler Media's shares are traded on AIM, the junior market ofthe London Stock Exchange under the symbol 'RMG'. For more information onRambler Media, visit our corporate website at www.ramblermedia.com. Certain statements within this announcement constitute forward-lookingstatements. Such forward-looking statements involve risks and other factorswhich may cause the actual results, achievements or performance of the Companyto be materially different from any future results, achievements or performanceexpressed or implied by such forward-looking statements. Such risks and otherfactors include, but are not limited to, general economic and businessconditions, changes in government regulations, and court interpretations of suchregulations, currency fluctuations (including the US$/Rbs rate), competition,and changes in development plans. There can be no assurance that the results andevents contemplated by the forward-looking statements contained in thisannouncement will, in fact, occur. Any forward-looking statements made in thisannouncement represent management's best judgment as to what may occur in thefuture and are correct only as at the date of this announcement. The Companywill not undertake any obligation to release publicly any revisions to theseforward-looking statements to reflect events or circumstances occurring afterthe date of this announcement except as required by applicable law or by anyapplicable regulatory authority. Copyright Business Wire 2007Related Shares:
RMG.L