RomaniaPro TV, Acasa, Pro Cinema& Pro TV International

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Romania

Fitch, Standard & Poor’s Ratings Services declared Romania a safe environment for investment (September 1, 2006 – upgrades Country Risk Rating from BBB+ to A-)

Romania is a NATO member and on January 1, 2007, will join the EU.

Key Statistics 2004 2005 2006 Forecast

Population 21.1 21.1 21.0

GDP per Capita (US$) 3,377 4,445 5,493

Real GDP Change (%) 8.4 4.1 5.7

Wage Inflation (%) 22.6 15.6 14.1

Inflation (%) 11.9 9.0 7.4

Unemployment (%) 6.2 5.9 5.8

FDI (US$ billion) 7.7 6.9 9.2

TV Households (million) 7.4 7.4 7.4Sources: ING, Informa, Global Insight

Country and Economy Update 2006

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Key Foreign Investments

Foreign Direct Investment is expected to reach US$ 9 billion in 2006 (ING)

Number of credit consumers for Altex, Domo, Flanco (electronic appliances) is increasing

New hypermarkets – Cora, Carrefour, Bricostore, Selgros, Metro opened

The number of credit loans for houses, cars and others acquisitions is increasing

The most dynamic areas for investing in advertising in 2007 will be financial services (especially pension funds and banking services), IT & electronics, cars, retail store chains and pharmaceutical companies.

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Our brands

Pro TV, Acasa, Pro Cinema, and Pro TV International

General channel, market leader in Romania, high rated movies, tabloid news programs, local productions, European football and sport shows. Main target: 18-49 Urban population

General channel, offering programs for women: telenovelas, movies, talk shows, local productions. Target audience: 15-49 urban female

Channel based on movies & serials TV channel allowing 100% library usage. Main target: 18-49 urban population

TV channel broadcasting 100% Romanian programs from Pro TV, Acasa and Pro Cinema; Cable & Satellite channel; distribution in Europe, Israel & USA

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Our operation

200090%

200490%

199890%

199590%

Launched:Ownership:

Pro TV Internati

o-nal

Pro Cinem

a

AcasaPro TV

82%2448%41%21%22.9%43.4%

2006 – 201573.3%2428%23%9.4%10.6%13%

53%2422%7%1.7%1.6%1.4%

24----

Technical reach1:Hours broadcast daily: Locally produced content2:Prime-time locally produced content2:All day audience share YTD June 20063: Prime time audience share YTD June 20063:TV advertising net revenue share 2005:

2009License expiry:

Pro TV, Acasa, Pro Cinema, and Pro TV International

1Sources: IMAS-CSOP-Establishment Survey, May 20062Including advertising and self-promo inside the programs; year 2006 estimate3Target: 18-49 Urban

Station’s All Day Audience Share 18 -49 Urban

Six months to June 30, 2006

TVR 19%

TVR 23%

Antena 114%

Prima TV5%

Others37%

Pro Cinema2%

Pro TV21%

Acasa9%

CME: 32.1%

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PRO TV increased coverage

12 Galati

25 Timisoara

2 Arad

19 Oradea

4 Baia Mare

13 Iasi

26 Tg.Mures

11 Deva 21 Sibiu 6 Brasov

22 Sinaia

7 Bucuresti

8 Buzau 17 Ploiesti

20 Slatina

14 M. Ciuc

24 Targoviste 16 Pitesti

3 Bacau

15 Piatra Neamt

5 Bistrita

10 Constanta

18 Sighisoara

Alexandria

9 Cluj Napoca

27 Turda

Focsani

Gheorghieni

IasiZalau

Novaci

1 Alba Iulia

23 Satu Mare

9 New High Coverage Licenses

Local Stations

Cable Coverage

100% Urban

In May, 2006, PRO TV SA was granted 9 new terrestrial licenses. The new licenses will increase Pro TV coverage from 76% to 91% nationwide. From December 1, 2006, Pro TV will be the first Romanian station to broadcast in HDTV. This will

be a huge competitive advantage in the Romanian TV Market

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General entertainment channels with national coverage: PRO TV, Antena1, TVR1, TVR 2, Prima TV (SBS)

General channels with cable distributions: ACASA, B1TV (News Corp.), National TV, OTV

Specialized local channels: Movie channels: PRO CINEMA Sport channels: TV SPORT, Telesport News channels: Realitatea TV, Antena 3, N24 Music channels: TV Klumea, MTV Ro, Etno TV, Favorit TV; Taraf TV, U Others: TVR Cultural, TVRM, Senso Newcomers in 2006: Euforia Lifestyle-Antena 4, Money Channel, Sport Klub

Specialized foreign channels with cable distribution: EUROSPORT, Minimax, Jetix, Cartoon Network, Discovery, National

Geographic, Animal Planet, HBO, AXN, Hallmark, Romantica etc. Newcomers in 2006: Eurosport 2

Competition

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More channels to be launched in 2007: Antennal 2 (targeting male audience) Europa TV 2 (children targeted) WBS TV (a business channel) 9 Plus TV (targeting female audience) Europa TV 1 (general channel, owner Lagardere) Kanal D (general channel, owner Dogan Yayin Holding)

New investment by public channels in local and foreign acquisitions to gain audience.

High investment by Antena 1 and Realitatea TV. Possible takeover of Prima TV (currently owned by SBS) and / or Antena by a foreign investor

Competition

New Developments

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Leadership Map

The leadership in the TV market was calculated as the average maximum rating in half hour slots for 2006, January to June.

Target: 18-49 urban population.

Target: 18-49 UrbanWeek days >>

Time Bands07:00 - 07:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV07:30 - 08:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV08:00 - 08:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Antena108:30 - 09:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV TVR 109:00 - 09:30 Antena 1 Antena 1 Antena 1 Pro TVAntena 1Antena 1 Pro TV Pro TV09:30 - 10:00 Antena 1 Antena 1 Antena 1 Pro TVAntena 1Antena 1 Pro TV Pro TV10:00 - 10:30 Pro TVAntena 1Pro TVAntena 1Pro TVAntena 1Pro TV Pro TVAntena 1Pro TV Antena 110:30 - 11:00 Pro TVAntena 1Pro TV Pro TV Pro TV Pro TV Pro TV Antena 111:00 - 11:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Antena 111:30 - 12:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Antena 112:00 - 12:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Antena 112:30 - 13:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TVAntena 1Antena 113:00 - 13:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV13:30 - 14:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV14:00 - 14:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV14:30 - 15:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV15:00 - 15:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV15:30 - 16:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV16:00 - 16:30 Antena 1 Antena 1 Antena 1 Antena 1 Antena 1 Pro TV Pro TV16:30 - 17:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV17:00 - 17:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV17:30 - 18:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV18:00 - 18:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV18:30 - 19:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV19:00 - 19:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV19:30 - 20:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV20:00 - 20:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV20:30 - 21:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV21:00 - 21:30 Pro TV Pro TV Pro TV Pro TV Pro TV TVR 1 Pro TV21:30 - 22:00 Pro TV Antena 1 Pro TV Pro TV Pro TV Pro TV Antena 122:00 - 22:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV22:30 - 23:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Antena 123:00 - 23:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV23:30 - 24:00 Pro TV Pro TV Pro TV TVR 1 Pro TV Pro TV Pro TV24:00 - 24:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV24:30 - 25:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV25:00 - 25:30 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV25:30 - 26:00 Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV Pro TV

Friday Saturday SundayMonday Tuesday WednesdayThursday

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Market Share

Target: 18-49 Urban

0

5

10

15

20

25

30

35

40

45

Jan'05 Feb'05 Mar'05 Apr'05 May'05 Jun'05 Jul'05 Aug'05 Sep'05 Oct'05 Nov'05 Dec'05 Jan'06 Feb'06 Mar'06 Apr'06 May'06 Jun'06

TVR 1 Antena 1 Prima TV Pro TV

Acasa Pro Cinema All Our Stations

Prime time audience share trends

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Autumn Programming Schedule

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Autumn Programming Schedule

The Fall Schedule follows the shift in programming trends / performance

More local fiction More news More entertainment High level sports

Rating boosters: I’ll dance for you (Pro TV) Football competitions – UEFA Champions League (Pro

TV) New Local series: sitcom and soap (Pro TV) News (Pro TV) Local telenovelas: Daria, My love; A Movie-like

Romance (Acasa) Entertainment local program: 3x a Woman (Acasa) Who will catch you? - CINE(MA) will catch you! (Pro

Cinema)

In order to keep our market share and leadership, we are investing in our brand power and in outstanding programs.

A Movie-like Romance

I’ll dance for you

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6.3

12.2

25.2

43.8

62

24%

33%

42% 42%

19%

0

10

20

30

40

50

60

70

2002 2003 2004 2005 2006 Guidance

US

$ m

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

EB

ITD

A M

AR

GIN

%

EBITDA EBITDA MARGIN %

Romania

Romania (US$ m)

FY2004 FY2005 Growth %

2006 Guidance

Growth %

Net Revenues 76.5 103.3 35% 146 42%

EBITDA 25.2 43.8 74% 62 42%

EBITDA Margin % 33% 42% 42%

33.5

51.2

76.5

103.3

146

0

20

40

60

80

100

120

140

160

2002 2003 2004 2005 2006 Guidance

Segment Net Revenues

US

$ m

.

Segment Net Revenues, EBITDA and EBITDA Margin

For a reconciliation of non-GAAP financial measures presented here to most comparable GAAP financial measures, please see the corresponding reconciliation slides on page 52 – 53 of the Q2 results presentation on www.cetv-net.com.

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Looking Ahead

More local content

More channels

New Media

Prepare for Digital Terrestrial Television

HDTV