CME announces refinancing of 2016 notes

Hamilton, Bermuda, February 28, 2014 - Central European Media Enterprises Ltd. ("CME") (NASDAQ/Prague Stock Exchange: CETV) announced today that, to finance the redemption of its EUR 272,972,000 aggregate principal amount of 11.625% senior notes due 2016 (the "2016 Notes") and to provide additional liquidity, CME has entered into agreements with Time Warner Inc. and one of its affiliates (together, "Time Warner") and filed a rights offering registration statement. The rights offering and related transactions to be undertaken pursuant to these agreements are subject to certain conditions described below.