----

|   | **AGREEMENT                FOR THE SALE OF SHAREs in A.R.J.,****A.S****.** |
|--------|----------------------------------------------------------------------------|
|   |                                                                       |
|   |                                                                       |
|   |                                                                       |
|   |                                                                       |
|   | **MEDIA                PARTNER, spol. s r.o.**                             |
|   |                                                                       |
|   | **AND**                                                                    |
|   |                                                                       |
|   | **SALIS,                s.r.o.**                                           |
|   |                                                                       |
|   | **AND**                                                                    |
|   |                                                                       |
|   | **CME                MEDIA ENTERPRISES B.V.**                              |
|   |                                                                       |
|   | **AND**                                                                    |
|   |                                                                       |
|   | **Ing.                Milan Fiľo**                                    |
|   |                                                                       |
|   | **AND**                                                                    |
|   |                                                                       |
|   | **Mr.                Ján Kováčik**                          |
|   |                                                                       |
|   |                                                                       |
|   | 31                October 2005                                             |

----

**CONTENTS**

| **Clause**   | **Page**                                           |
|--------------|----------------------------------------------------|
|         |                                               |   |   |
| 1.           | Interpretation                                     | 3 |
| 2.           | Sale                  and Purchase                 | 4 |
| 3.           | Conditions                  Precedent              | 4 |
| 4.           | Completion                                         | 6 |
| 5.           | Pre-Completion                                     | 7 |
| 6.           | Initial                  Consideration             | 8 |
| 7.           | Deferred                  Consideration            | 8 |
| 8.           | Loans                  and Guarantees              | 8 |
| 9.           | Seller's                  Warranties               | 9 |
| 10.          | Announcements                  and Confidentiality | 9 |
| 11.          | Notices                                            | 10 |
| 12.          | Further                  Assurances                | 11 |
| 13.          | Assignments                                        | 11 |
| 14.          | Payments                                           | 11 |
| 15.          | General                                            | 12 |
| 16.          | Whole                  Agreement                   | 12 |
| 17.          | Governing                  Law and Jurisdiction    | 13 |
| 18.          | Language                                           | 13 |
| 19.          | Termination                                        | 13 |
| 20.          | Amendments                                         | 13 |
|         |                                               |   |   |
| **Schedule** | **Page**                                           |
|         |                                               |   |
| 1.           | The                  Sellers                       | 15 |
| 2.           | The                  Company                       | 16 |
| 3.           | Warranties                                         | 17 |
|         | Part                  1                            | Warranties                  regarding pre-Completion activities | 17 |
|         | Part                  2                            | Other                  Warranties | 18 |
| 4.           | Completion                                         | 26 |
|         | Part                  1                            | Sellers'                  Obligations | 26 |
|         | Part                  2                            | Purchaser's                  Obligations | 28 |
| 5.           | Interpretation                                     | 29 |
|         |                                               |   |   |
| Signatories  | 33                                                 |

----

**THIS      AGREEMENT**

**BETWEEN**

| (1) | **MEDIA                PARTNER, spol. s r.o.**,                having its seat at Dolná No. 62, 974 01 Banská Bystrica, Identification                number 36 044 075, registered in the commercial register of the District                Court Banská Bystrica, section: Sro, insert No.: 6678/S (**MEDIA                PARTNER**),                represented by its                executive Mr. Ján Kováčik; |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | **SALIS,                s.r.o.**,                having its seat at Oravská cesta No. 7, 010 01 Žilina, Identification                number 36 368 946, registered in the commercial register of the District                Court Žilina, section: Sro, insert No.: 10089/L (**SALIS**),                represented                by its executive Ing. Milan Fiľo; |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Seller**
**Sellers**

| (3) | **Ing.                Milan Fiľo**,                birth number 670821/6636, residing at Poštová No. 528/9, 044 42                Rozhanovce; |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | **Mr.                Ján Kováčik**,                birth number 621204/6720, residing at Vydrovo no. 101, 976                52 Čierny Balog; |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (the                parties in (1) to (4) as the **Obligors**                and each an **Obligor**);                and |
|--------|---------------------------------------------------------------------------------------------------------------------------|

| (5) | **CME                MEDIA ENTERPRISES B.V.,**registered                in the commercial register of Chamber of Commerce and Industries                for                Amsterdam, the Netherlands, whose registered office is at Oostelijke                Handelskade 1169, 1019 DN Amsterdam, the Netherlands (the **Purchaser**),                represented by Robert E. Burke, under power of                attorney; |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**BACKGROUND**

| (A) | The                Sellers                are owners of 66 per cent of the                issued share capital of A.R.J.,                a.s., having its seat at Skuteckého 23, Banská Bystrica 974 01,                Identification number 36 379 921, registered in the commercial register                of                the District Court Banská Bystrica, section: Sa, insert No.:                729/S                (the **Company**). |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The                Sellers wish                to                sell and the Purchaser wishes to purchase 66                per cent of the                issued share capital of the Company                free from any Encumbrance on the terms and subject to the conditions                set                out in this agreement. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**IT      IS AGREED**

| **1.** | **INTERPRETATION** |
|--------|--------------------|

| 1.1 | In                addition to terms defined elsewhere in this agreement, the definitions                and                other provisions in Schedule 5                apply throughout this agreement, unless the contrary intention                appears. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.2 | In                this agreement, unless the contrary intention appears, a reference                to a                clause, sub-clause or schedule is a reference to a clause, sub-clause                or                schedule of or to this agreement. The schedules form part of this                agreement. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.3 | The                headings in this agreement do not affect its                interpretation. |
|-----|------------------------------------------------------------------------------------------------|

----

| **2.** | **SALE                AND PURCHASE** |
|--------|--------------------------------------|

| 2.1 | Subject                to the Conditions being satisfied or, where applicable, waived,                each                of the Sellers                shall sell and the Purchaser shall purchase those of the Shares set                opposite such Seller's name in column (B) of Schedule 1. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.2 | The                Shares shall be sold free from all Encumbrances and together with                all                rights attaching to them. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.3 | The                consideration for the sale of the Shares shall be determined in accordance                with clause 6. |
|-----|-----------------------------------------------------------------------------------------------------------------------------|

| 2.4 | The                Obligors acknowledge                that the Purchaser enters into this agreement in reliance on the                representations, warranties and undertakings on the part of the                Obligors                set out in this agreement. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.5 | Each                Seller: |
|-----|-----------------------------|

|   | (a) | covenants                with the Purchaser that it                has the right to sell and transfer to the Purchaser the ownership                title in                the Shares set opposite such Seller's name in column (B) of                Schedule1 on                the terms set out in this                agreement; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | waives                all rights of pre-emption which it                may have (whether under the                Company's constitutional documents or otherwise) in respect of the                transfer to the Purchaser of the Shares or any of them;                and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | waives                all rights of pre-emption which it                may have (whether under the                Company's constitutional documents or otherwise) in respect of the                transfer exclusively to the Purchaser of any shares held by any other                shareholder of the Company. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **3.** | **CONDITIONS                PRECEDENT** |
|--------|-----------------------------------------|

| 3.1 | The                sale and purchase of the Shares is conditional                on: |
|-----|--------------------------------------------------------------------------------------|

|   | (a) | the                Purchaser giving notice to the Sellers                that it is satisfied on inspection and investigation as                to: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the                financial, contractual and taxation position of the Company; |
|--------|-----|---------------------------------------------------------------------------------|

|   | (ii) | the                title of the Company                to                its                respective assets (including the title of the Company                to                the Participation interest in Markíza);                and |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | either: |
|--------|-----|---------|

|   | (i) | the                PMU notifying the Purchaser and the Sellers that the Transaction                or any                matter arising from it is not subject to its approval;                or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | it                being established, in terms satisfactory to the Purchaser, that the                PMU                does not intend to refer the Transaction or any matter arising from                it to                the European Commission under Article 22(1) of Council Regulation                (EC)                No.139/2004 (the **Regulation**),                or if such referral is made by the PMU, that the European Commission                will                not examine the Transaction or any matter arising from it under Article                22(3) of the Regulation; and notice of clearance by the PMU of the                Transaction and any associated obligations which may require clearance                being delivered to the Purchaser; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the                Purchaser having received from the Sellers or from Markíza a certified                copy of a resolution of the Council consenting to the transfer of                the                Participation Interest 1 from the Company to MEDIA INVEST pursuant                to                article 54/1(c) of the Broadcasting                Act; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (d) | the                Purchaser having received from the Sellers a certified copy of a                participation interest transfer agreement regarding the transfer                the                Participation Interest 1 in Agreed Form duly executed by the Company                and                MEDIA INVEST; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | the                Purchaser having received from the Sellers a certified copy of a                participation interest transfer agreement regarding the transfer                of the                50% participation interest                of Mr. Ján Kováčik in MEDIA INVEST to Ing. Milan Fiľo in the Agreed                Form                duly executed by Mr.                Ján Kováčik and Ing. Milan Fiľo; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | the                Purchaser having received a certified copy of an Amendment No. 2                to the                Agreement on coordinated procedure in Agreed Form executed by the                relevant                parties, an agreement for the termination of the Agreement on coordinated                procedure in Agreed Form executed by the relevant parties and an                agreement                in relation to Media Invest and Markíza in Agreed Form executed by the                Purchaser, Ing.                Milan Fiľo, Mr. Ján Kováčik, and MEDIA INVEST                ; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | the                Purchaser having received copies of waivers of the Company's shareholders                of their rights of pre-emption under the Company's articles in respect                of                the transfer to Mr Pavol Rusko of the Rusko Shares from                Mediapro; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | the                Purchaser having received a certified copy of an agreement entered                into                between the Company's shareholders in which the Company's shareholders                waive all their rights of pre-emption under the                Company's articles in respect of the transfer to the Purchaser of                the                entire share capital in the                Company; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the                Purchaser having received share certificates representing the Rusko                Shares                duly endorsed for the benefit of the Purchaser; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | the                Purchaser having received from the Sellers a confirmation on the                Completion Date that: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

|   | (i) | there                are no pending or threatened actions or proceedings by or before                any court                or other governmental body or agency which shall seek to restrain,                prohibit or invalidate the                Transaction; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the                Sellers' Warranties are true and accurate;                and |
|--------|------|----------------------------------------------------------------------------------|

|   | (iii) | no                event or circumstance has occurred or is likely to occur that constitutes                a Material Adverse Effect. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------|

| 3.2 | The                Purchaser may waive all of the Conditions above (either in whole                or in                part) at any time by giving notice to the Sellers. Any such waiver                is                without prejudice to Purchaser's right to compensation in respect                of a                breach of any covenant or inaccuracy of any Warranty, as otherwise                provided in this agreement. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.3 | Each                party shall use all reasonable endeavours to procure (so far as it                is so                able to procure) that each of the Conditions is satisfied on or before                30                January 2006 (or such later date as may be agreed by the parties)(the                **Long                Stop Date**).                If the Conditions are not satisfied, or waived in accordance with                the                preceding sub-clause, on or before the Long Stop                Date: |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | except                for this sub-clause, clauses 1,                clauses 9                to                17                and the provisions of Schedule 5,                all the provisions of this agreement shall lapse and cease to have                effect;                but |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | neither                the lapsing of those provisions nor their ceasing to have effect                shall                affect any accrued rights or liabilities of any party in respect                of                damages for non-performance of any obligation under this agreement                falling                due for performance prior to such lapse and                cessation. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 3.4 | Immediately                after, in the opinion of the Purchaser (acting reasonably), the Conditions                set out in sub-clauses (3.1(a)                to                3.1(i)(save                for 3.1(j)                which is to be satisfied or waived on the Completion Date) have been                satisfied or waived (to the extent not fulfilled), the Purchaser                shall                notify the Sellers of this fact in                writing. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.5 | Each                party shall promptly inform the other parties in writing about any                relevant matters in relation to, and shall keep the other parties                informed                in writing of, the progress to completion of all items required for                the                Completion and any material impediments or delays or of the existence                or                occurrence of any conditions that may adversely affect the occurrence                of                Completion. Each party shall provide each other party with all information                which each other party shall reasonably request in writing in order                to                determine that that party has complied with its obligations under                sub-clause 3.3. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.6 | The                party which is obliged to provide a document shall provide to the                other                party a certified copy of each document required pursuant to sub-clause                3.1                as                and when obtained. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **4.** | **COMPLETION** |
|--------|----------------|

| 4.1 | Completion                shall take place at the offices of the Purchaser's Counsel at                10.00 a.m. on the third Business Day after the date on which the last                of the Conditions to be satisfied or waived in accordance with the                preceding clause is satisfied or so waived (or at such other place,                at                such other time and/or on such other date as the parties                may agree). |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2 | At                Completion: |
|-----|-------------------------------|

|   | (a) | the                Obligors shall observe and perform the provisions of Part 1                of                Schedule 4;                and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the                Purchaser shall observe and perform the provisions of Part 2                of                Schedule 4. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

| 4.3 | If                for any reason the provisions of Part 1 of Schedule                4 are                not fully observed and performed as contemplated by clauses                4.1                and 4.2,                the Purchaser may elect (in addition and without prejudice to all                other                rights or remedies available to it) not to complete the purchase                of the                Shares or to fix a new time and date for Completion by, in either                case,                giving notice to the Obligors. In particular, the Purchaser shall                not be                obliged to complete the purchase of any of the Shares unless the                purchase                of all the Shares is completed simultaneously in accordance with                this                agreement. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.4 | If                the Purchaser elects not to complete the purchase of the Shares under                the                preceding sub-clause: |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | except                for this sub-clause, clauses 9                to                17                and the provisions of Schedule 5,                all the provisions of this agreement shall lapse and cease to have                effect; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | neither                the lapsing of those provisions nor their ceasing to have effect                shall                affect any accrued rights or liabilities of any party in respect                of                damages for non-performance of any obligation falling due for performance                prior to such lapse and cessation;                and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the                Obligors shall: |
|--------|-----|------------------------------------|

|   | (i) | compensate                the Purchaser for all costs, charges and expenses incurred by it                in                connection with the negotiation, preparation and entering into of                this                agreement and in discharging its obligations under it;                and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | pay                to the Purchaser a contractual penalty in the amount equal to 10%                of the                Consideration (this is without prejudice to any other remedy available                to                the Purchaser, including the Purchaser's ability to claim damages                exceeding the amount of the contractual                penalty). |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **5.** | **PRE-COMPLETION** |
|--------|--------------------|

| **5.1** | **Access** |
|---------|------------|

|   | (a) | procure                that the Purchaser, its agents and advisors are given full access                to the                books and records of the Company during normal business hours on                any                Business Day and on reasonable notice to the                Sellers; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | provide                such information regarding the Company which is available to the                Sellers                as the Purchaser may reasonably require in order to carry our the                inspection and investigation envisaged under clause 3.1(a);                and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | provide                such other co-operation to the Purchaser, its agents and advisers                as they                may reasonably require in each case to enable them to obtain information                about the operations of the Company, including its financial, legal,                and                trading status. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **5.2** | **Notice                of any change** |
|---------|-----------------------------------------|

|   | (a) | Each                of the Sellers shall immediately send a notice to the Purchaser in                writing                of any matter or thing which arises or becomes known to it before                Completion which: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | is                likely to constitute (or would after the lapse of time constitute)                a                misrepresentation or a breach of any of the other obligations on                its part                under this agreement or makes any Warranty of it incorrect or misleading;                or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | would                mean that any of its Warranties would be incorrect or misleading                at                Completion. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Any                such notice must specify that matter or circumstance in reasonable                detail                and set out such other facts as the Purchaser deem necessary specifying                that matter or circumstance in reasonable detail. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **5.3** | **Brand                rights** |
|---------|---------------------------------|

|   | (a) | From                the signing of this agreement, the Obligors shall exercise all rights                and                powers available to them so as to procure that neither they nor their                Related Persons nor any third parties shall use the logo or word                "Markíza"                or similar, and shall ensure that Markíza has exclusive and full rights                and use of the logo or word "Markíza" and any similar word, name or mark,                except as agreed in any licence agreement entered into between STS                and any                third party. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | For                avoidance of any doubt, the Obligors shall procure                that: |
|--------|-----|--------------------------------------------------------------------------------------------|

|   | (i) | from                the Completion Date the company TV TIP, a.s. Bratislava, Identification                No.: 35 728 426 will not use the logo, trade name or word "Markíza" or                similar on its weekly magazine “Markíza” or on any of its other products,                except as agreed in any licence agreement entered with STS, which                shall be                entered into prior to 31 December 2005 at standard market                conditions; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | prior                to the Completion Date the company TV TIP, a.s. Bratislava, Identification                No.: 35 728 426 will not be sold to any third party other than the                Purchaser. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | If                any of the Obligors breach any of their obligation set out in this                clause                5.3, the Obligors shall pay to the Purchaser a contractual penalty                of SKK                3,000,000 for each breach. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **6.** | **INITIAL                CONSIDERATION****AND DEFERRED CONSIDERATION** |
|--------|------------------------------------------------------------------------|

| 6.1 | The                initial consideration for the sale of the Shares shall be €                7,000,000. |
|-----|----------------------------------------------------------------------------------------------------------------|

| 6.2 | The                Initial Consideration is, under clause 4                and Schedule 4,                to be paid to the Sellers                on                Completion. Each Seller shall on Completion be entitled to that amount                of                the Initial Consideration set against its                name in column (C) of Schedule 1. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.3 | As                further consideration for the sale of the Shares, the Sellers shall                (subject to the terms of this agreement) be entitled to a sum up                to SKK                78,000,000 (the **Deferred                Consideration**)                as follows: |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | Mr.                Ján Kováčik shall be entitled to a part of the Deferred Consideration in                the amount of SKK 60,000,000; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Ing.                Milan Fiľo shall be entitled to a part of the Deferred                Consideration: |
|--------|-----|---------------------------------------------------------------------------------------------------------------|

|   | (i) | in                the amount of SKK 10,000,000; and |
|--------|-----|-----------------------------------------------------|

|   | (ii) | in                the amount equal to the amount that will be available as free cash                on the                bank account of the Company at the Completion Date, only up to SKK                8,000,000. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.4 | The                Deferred Consideration shall be paid to the Sellers on or before                31 May                2006. |
|-----|--------------------------------------------------------------------------------------------------------------------------------|

| **7.** | **LOANS                AND GUARANTEES** |
|--------|-----------------------------------------|

| 7.1 | The                parties acknowledge that the Consideration for the Shares has been                agreed                on the basis that: |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | no                indebtedness of any kind (whether or not presently payable) is owed                by the                Company to any Obligor (or any Related Person to any Obligor) other                than                the indebtedness shown in the accounting records of the Company that                shall                be repaid in full by the Company at the Completion;                and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | all                indebtedness of any kind owed by any Obligor (or any Related Person                to any                Obligor) to the Company (whether or not presently payable) is repaid                in                full by each Obligor or such Related Person to the Company on                Completion. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.2 | The                Obligors shall procure that on or before Completion all indebtedness                due                from any Obligor (or any Related Person to any Obligor) to the Company                is                satisfied in full. If it is established at any time after Completion                that                any indebtedness of any kind (whether or not presently payable) was                owing                at Completion by any Obligor (or any Related Person to any Obligor)                to the                Company, contrary to the basis stated above, then each Obligor shall                procure that such indebtedness is immediately paid in                full. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.3 | The                Obligors shall procure that on Completion the Company is released                from all                guarantees and indemnities given by the Company. The Obligors                shall procure that on Completion all indebtedness owing immediately                before                Completion from either                Obligor (or any Related Person to any Obligor) to the                Company                is                or has been satisfied in full together with all interest accruing                on it up                to (but excluding) Completion. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **8.** | **SELLER'S                WARRANTIES** |
|--------|----------------------------------------|

| 8.1 | The                Sellers                represent and warrant to the Purchaser that each of the statements                set                out: |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | in                Part 1                of Schedule 3 will                at Completion be true, accurate and not misleading; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | in                Part 2                of                Schedule 3                is                at the date of this agreement and will at Completion be true, accurate                and                not misleading. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.2 | Each                of the Warranties is separate and independent and, except as expressly                provided to the contrary in this agreement, is not limited by reference                to                any other Warranty. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.3 | None                of the Warranties shall, and the Purchasers' ability to make any                claim                under this agreement shall not, be treated as waived, qualified or                otherwise affected by any actual knowledge or any knowledge imputed                to the                Purchaser or its agents and advisers, including any knowledge resulting                from any due diligence investigation carried out by or on behalf                of the                Purchaser before Completion or which the Purchaser has or obtains                otherwise than in pursuance of its rights under this                agreement. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.4 | Without                prejudice to any other remedy available to the Purchaser or its ability                to                claim damages on any basis which is available to it by reason of                any of                the Warranties being untrue or misleading or being breached, the                Obligors                will, under section 725 et seq. of the Commercial Code, indemnify                the                Purchaser in respect of all liabilities (including costs, damages                or                losses, fees and expenses) that the Purchaser may suffer resulting                from or                in connection with any of the Warranties being breached, untrue or                misleading, and for any breach by any of the Obligors of any of their                obligations under this agreement, including an amount equal to any                deficiency or liability of the Company which arises from any of the                Warranties being breached, untrue or misleading and which would not                have                existed or arisen if the Warranty in question had not been breached,                untrue or misleading. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.5 | For                the purposes of clause 8.4                the parties confirm that: |
|-----|---------------------------------------------------------------------------------------------|

|   | (a) | the                Obligors have requested the Purchaser to rely on the Warranties being                true                and accurate as of the date when made or deemed to be made and on                the                Obligors' promise to comply with all their obligations in this agreement                and the Purchaser has not been obliged to make such reliance;                and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | section                728 of the Commercial Code does not apply to the Purchaser under                this                clause. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

| **9.** | **ANNOUNCEMENTS                AND CONFIDENTIALITY** |
|--------|------------------------------------------------------|

| 9.1 | No                party shall make or permit any person connected with it to make any                announcement concerning this sale and purchase or any ancillary matter                before, on or after Completion except as required by law or any competent                regulatory body or with the prior written approval of the other parties,                such approval not to be unreasonably withheld or                delayed. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.2 | The                Purchaser: |
|-----|-------------------------------|

|   | (a) | shall                keep confidential all information provided to it by Sellers which                relates                to the Sellers; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | if                after Completion, the Company holds confidential information relating                to                Sellers, shall keep that information confidential and, to the extent                reasonably practicable, shall return that information to the relevant                Seller or destroy it. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.3 | Each                Obligor shall and shall procure                that: |
|-----|--------------------------------------------------------------------------|

|   | (a) | any                person connected with it from time to time shall keep confidential                all                information provided to it by or on behalf of the Purchaser or otherwise                obtained by or in connection with this agreement which relates to                any                member of the Purchaser; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | if                after Completion an Obligor holds confidential information relating                to the                Company, it shall keep that information confidential and, to the                extent                reasonably practicable, shall return that information to the Purchaser                or                destroy it. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.4 | Nothing                in this clause prevents any confidential information being                disclosed: |
|-----|-------------------------------------------------------------------------------------------------------------|

|   | (a) | with                the written approval of the other parties, which in the case of any                announcement shall not to be unreasonably withheld or delayed;                or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | to                the extent required by law or any competent regulatory body, but                a party                required to disclose any confidential information shall promptly                notify                the other parties, where practicable and lawful to do so, before                disclosure occurs and co-operate with the other parties regarding                the                timing and content of such disclosure or any action which the other                parties may reasonably elect to take to challenge the validity of                such                requirement. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.5 | Nothing                in this clause prevents disclosure of confidential information by                any                party: |
|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | to                the extent that the information is in or comes into the public domain                other than as a result of a breach of any undertaking or duty of                confidentiality by that party/any person;                or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | to                that party's professional advisers, auditors or bankers, but before                any                disclosure to any such person the relevant party shall procure that                he is                made aware of the terms of this clause and shall use its best endeavours                to procure that each such person adheres to those terms as if he                were                bound by the provisions of this                clause. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **10.** | **NOTICES** |
|---------|-------------|

| 10.1 | Any                notice or other formal communication given under this agreement (which                includes fax, but not email) must be in writing and may be delivered                in                person, or sent by post or fax to the party to be served at its address                appearing in this agreement as                follows: |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)    | to                the Obligors at:                       | (b)    | to                the Purchaser at:                         |
|--------|----------------------------------------------------------|--------|-------------------------------------------------------------|
|   | MEDIA                PARTNER, spol. s r.o.               |   |                                                        |
|   | Skuteckého                23                        |   | 71-91                Aldwych                                |
|   | 974                01 Banská Bystrica               |   |                                                        |
|   | and                                                      |   | London                WC2B 4HN                              |
|   | SALIS,                spol. s r.o.                       |   |                                                        |
|   | Bystrická                cesta 13                   |   | United                Kingdom                               |
|   | 03401                Ružomberok                     |   |                                                        |
|   | MEDIA                PARTNER: 02/48700049                |   | Fax:                +44 20 7430 5403                        |
|   | SALIS:                044/4324734                        |   |                                                        |
|   | marked                for the attention of:              |   | marked                for the attention of General Counsel, |
|   | MEDIA                PARTNER: Ján Kováčik |   |                                                        |
|   | SALIS:                Ing. Milan Fiľo               |   |                                                        |

----

| 10.2 | Any                notice or other communication shall be deemed to have been                given: |
|------|-----------------------------------------------------------------------------------------------------|

|   | (a) | if                delivered, on the date of delivery;                or |
|--------|-----|-------------------------------------------------------------------------|

|   | (b) | if                sent by post, on the second Business Day after it was put into the                post;                or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------|

|   | (c) | if                sent by fax, on the date of transmission, if transmitted before                3.00 p.m. (local time at the country of destination) on any Business                Day, and in any other case on the Business Day following the date                of                transmission. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.3 | In                proving the giving of a notice or other communication, it shall be                sufficient to prove that delivery was made or that the envelope containing                the communication was properly addressed and posted by prepaid recorded                delivery post or by prepaid airmail or that the fax was properly                addressed                and transmitted, as the case may                be. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **11.** | **FURTHER                ASSURANCES** |
|---------|---------------------------------------|

| 11.1 | On                or after Completion each                Obligor shall, at its                own cost and expense, execute and do (or procure to be executed and                done                by any other necessary party) all such documents, acts and things                as the                Purchaser may from time to time require in order to acquire the Shares                or                as otherwise may be necessary to give full effect to the Transaction                Documents. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.2 | In                relation to the                Company,                the Obligors shall                procure the convening of all meetings, the giving of all waivers                and                consents and the passing of all resolutions as are necessary under                statute, its constitutional documents or any agreement or obligation                affecting it to give effect to the Transaction                Documents. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **12.** | **ASSIGNMENTS** |
|---------|-----------------|

| 12.1 | None                of the rights or obligations under this agreement may be assigned                or                transferred without the prior written consent of all the                parties. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **13.** | **PAYMENTS** |
|---------|--------------|

| 13.1 | Unless                otherwise expressly stated (or as otherwise agreed in the case of                a given                payment), each payment of Initial Consideration to be made under                this                agreement shall be made in EURO and each other payment in SKK by                transfer                of the relevant amount into the relevant account on or before the                date the                payment is due for value on that date. The relevant account for a                given                payment is: |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | if                  that payment is to the Sellers,                  to each account of the Sellers                  at: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

----

| **MEDIA                PARTNER** |                                               |
|----------------------------------|----------------------------------------------------|
|                             |                                               |
| bank:                            | Tatra                banka, a.s., Bratislava       |
|                             |                                               |
| sort                code:        | IBAN                CODE: SK8611000000002621704480 |
|                             |                                               |
| account                number:   | 2621704480/1100,                SWIFT: TATRSKBX    |
|                             |                                               |
| **SALIS**                        |                                               |
|                             |                                               |
| bank:                            | Tatra                banka, a.s., Bratislava       |
|                             |                                               |
| sort                code:        | IBAN                CODE: SK1711000000002620111042 |
|                             |                                               |
| account                number:   | 2620111042/1100,                SWIFT: TATRSKBX    |

|   | (b) | if                that payment is to the Purchaser, the account as the Purchaser shall,                not                less than three Business Days before the date that payment is due,                have                specified by giving notice to the Sellers                for the purpose of that payment. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.2 | If                a party defaults in the payment when due of any sum payable under                this                agreement, it shall pay interest on that sum from the date on which                payment is due until the date of actual payment (as well after as                before                judgment) at an annual rate of 1.0 per cent. above the one (1) month                EURIBOR rate valid on the first day of default and each monthly                anniversary thereof, which interest shall accrue from day to day                and be                compounded monthly. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.3 | If                either                Obligor is required by law to make a deduction or withholding in                respect                of any sum payable under this agreement, such                Obligor shall, at the same time as the sum which is the subject of                the                deduction or withholding is payable, make a payment to the Purchaser                of                such additional amount as shall be required to ensure that the net                amount                received by the Purchaser will equal the full amount which would                have been                received by it had no such deduction or withholding been required                to be                made. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **14.** | **GENERAL** |
|---------|-------------|

| 14.1 | Each                of the obligations, Warranties and undertakings set out in this agreement                (excluding any obligation which is fully performed at Completion)                shall                continue in force after Completion and shall not be affected by the                waiver                of any Condition or any notice given by the Purchaser in respect                of any                Condition. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.2 | Where                any obligation, representation, warranty or undertaking in this agreement                is expressed to be made, undertaken or given by the Sellers or the                Obligors, they shall be jointly and severally responsible in respect                of                it. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.3 | The                Purchaser may release or compromise in whole or in part the liability                of                either                of                the Obligors under this agreement or grant any time or indulgence                to that                Obligor without affecting the liability of the                other Obligor. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.4 | Except                as otherwise expressly provided in this agreement each party shall                pay the                costs and expenses incurred by it in connection with the entering                into and                completion of this agreement. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **15.** | **WHOLE                AGREEMENT** |
|---------|------------------------------------|

| 15.1 | This                agreement and the Transaction Documents to which the Obligors or                the                Sellers are party contains the whole agreement between the parties                relating to the transactions contemplated by this agreement and supersede                all previous agreements, whether oral or in writing, between the                parties                relating to these transactions. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 15.2 | Each                party acknowledges that in agreeing to enter into this agreement                it has                not relied on any representation, warranty, collateral contract or                other                assurance (except those set out in this agreement or any Transaction                Document) made by or on behalf of the other party before the entering                into                of this agreement. Each party waives all rights and remedies which,                but                for this sub-clause, might otherwise be available to it in respect                of any                such representation, warranty, collateral contract or other                assurance. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **16.** | **GOVERNING                LAW AND JURISDICTION** |
|---------|---------------------------------------------------|

| 16.1 | This                agreement is governed by Slovak law. This agreement is governed by                the                provisions of the Commercial Code, save for those disapplied or modified                by this agreement. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.2 | Each                of the parties agrees that the application of any provision of Slovak                law                that is not of a strictly mandatory nature is expressly excluded                to the                extent that it could alter the meaning or purpose of any provision                of this                agreement. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.3 | Any                dispute arising out of or in connection with this agreement (including                any                question regarding its existence, validity, binding effect or termination)                shall be referred to, and finally resolved in arbitration proceedings                conducted under the Rules of Arbitration of the ICC (the **Rules**).                The Rules are deemed to be incorporated by reference into this agreement.                The tribunal shall consist of three arbitrators who shall be appointed                by                the parties in writing (pursuant to the Rules), or if they fail to                do so,                within 21 days of the day when any of the parties requested the dispute                to                be resolved by arbitration, by one arbitrator appointed pursuant                to the                Rules. The place of any such arbitration shall be Vienna and the                language                of proceedings English. The parties will be bound by any resulting                arbitral award. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.4 | For                the purposes of this clause, in respect of any dispute between the                Sellers                (or the Obligors) on the one hand, and the Purchaser on the other,                the                Sellers (or the Obligors) shall at the request of the Purchaser be                obliged                to act as one party in any proceedings, and shall not institute multiple                proceedings in respect of the dispute. In respect of any dispute                between                the Obligors that does not involve the Purchaser as a party, the                Obligors                may act individually. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **17.** | **LANGUAGE** |
|---------|--------------|

| **18.** | **TERMINATION** |
|---------|-----------------|

| **19.** | **AMENDMENTS** |
|---------|----------------|

**AS      WITNESS**

----

**SCHEDULE      1**

**THE      SELLERS**

| (A)                                          | (B)                                                                                                                                                                                                                                                                                | (C)                                             |
|----------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------|
| *Name                  of Seller*            | *Number                  of Shares (including serial numbers if Shares are registered                  shares)*                                                                                                                                                                    | *Cash                  Consideration (€)* |
| MEDIA                  PARTNER, spol. s r.o. | 13,500                  ordinary shares, each with a nominal value of SKK 1,000: series:                  A numbers                  of shares 0851-1000, series: B numbers of shares 75651-89000, issued                  as                  two global shares replacing shares. | €3,500,000                                |
| SALIS,                  s.r.o.               | 45,900                  ordinary shares, each with a nominal value of SKK 1,000: series:                  A numbers                  of shares 0001-0510, series: B numbers of shares 00001-45390, issued                  as                  two global shares replacing shares. | €3,500,000                                |

----

**SCHEDULE      2**

**THE      **
**Company**

| Company                name:                                   | A.R.J.,                a.s.                                                                                                                                                                                                                                                                                                                                                          |
|----------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                           |                                                                                                                                                                                                                                                                                                                                                                                 |
| Identification                number:                          | 36                379 921                                                                                                                                                                                                                                                                                                                                                            |
|                                                           |                                                                                                                                                                                                                                                                                                                                                                                 |
| Registered                office:                              | Skuteckého                23, Banská Bystrica 974 01                                                                                                                                                                                                                                                                                                                       |
|                                                           |                                                                                                                                                                                                                                                                                                                                                                                 |
| Date                of incorporation:                          | 14                April 1998                                                                                                                                                                                                                                                                                                                                                         |
|                                                           |                                                                                                                                                                                                                                                                                                                                                                                 |
| Legal                form:                                     | joint-stock                company                                                                                                                                                                                                                                                                                                                                                   |
|                                                           |                                                                                                                                                                                                                                                                                                                                                                                 |
| Board                of Directors:                             | Ján                Kováčik, member                                                                                                                                                                                                                                                                                                                                    |
|                                                           | Ing.                Milan Fiľo, chairman                                                                                                                                                                                                                                                                                                                                        |
|                                                           | Ing.                František Vizváry, member                                                                                                                                                                                                                                                                                                                              |
|                                                           |                                                                                                                                                                                                                                                                                                                                                                                 |
| Acting                on behalf of the Company:                | All                directors together                                                                                                                                                                                                                                                                                                                                                |
|                                                           |                                                                                                                                                                                                                                                                                                                                                                                 |
| Registered                capital:                             | SKK                90,000,000                                                                                                                                                                                                                                                                                                                                                        |
|                                                           |                                                                                                                                                                                                                                                                                                                                                                                 |
| Number,                type, kind and nominal value of shares: | 90,000                issued, registered, ordinary shares (in Slovak "na meno"), in certificated                form (in Slovak "listinné"), series: A numbers of shares 0001-1000,                series: B numbers of shares 00001-89000, each with nominal value                of SKK                1,000 each, issued as 6 global share certificates replacing the shares |
| Supervisory                Board:                              | Stanislav                Pavlík - chairman                                                                                                                                                                                                                                                                                                                                      |
|                                                           | Ing.                Milan Varchola - member                                                                                                                                                                                                                                                                                                                                          |
|                                                           | Ing.                Miroslav Vajs - member                                                                                                                                                                                                                                                                                                                                           |

----

**SCHEDULE      3**

**WARRANTIES**

**PART      1**

**WARRANTIES      REGARDING PRE-COMPLETION ACTIVITIES**

| (a) | incur                any expenditure exceeding EURO 5,000 and incur any expenditure in                relation                to Taxation exceeding EURO 13,000;                or |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | except                for the transfer of the Participation Interest 1 by the Company to                MEDIA                INVEST under the Transaction Documents, dispose of or create any                Encumbrance in respect of any part of its assets (including the                Participation Interest or any part of it);                or |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | borrow                any money or make any payments out of or drawings on its bank account(s);                or |
|-----|-------------------------------------------------------------------------------------------------------------------|

| (d) | except                as contemplated under the Transaction Documents, enter into any contract                or commitment, or: |
|-----|----------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | make                or prepay any loan; or |
|--------|-----|--------------------------------------------|

|   | (ii) | fail                to observe and perform any term or condition of, or waive any rights                under, any contract or arrangement;                or |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | contravene                any statute, order, regulation or the like;                or |
|--------|-------|-----------------------------------------------------------------------------------------|

|   | (iv) | do                or omit to do anything which might result in the termination, revocation,                suspension, modification or non-renewal of any licence or consent                held by                it or the Markíza Licence; or |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | grant                any power of attorney; or |
|--------|-----|------------------------------------------------|

| (e) | declare,                make or pay any dividend or other distribution or do or allow to                be done                anything which renders its financial position less favourable than                at the                date of this agreement; or |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f) | grant,                issue or redeem any mortgage, charge, debenture or other security                or give                any guarantee or indemnity; or |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g) | employ                any person; or |
|-----|--------------------------------------|

| (h) | create,                issue, purchase or redeem any class of share or loan capital;                or |
|-----|--------------------------------------------------------------------------------------------------------|

| (i) | except                as contemplated under the Transaction Documents, pass any resolution                of                its shareholders, whether in general meeting or otherwise;                or |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (j) | form                any subsidiary or acquire shares in any company or participate in,                or                terminate any participation in, any partnership or joint venture;                or |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (k) | agree,                conditionally or otherwise, to do any of the foregoing; or |
|-----|----------------------------------------------------------------------------------|

| (l) | in                any other way depart from the ordinary course of its day-to-day                trading. |
|-----|-----------------------------------------------------------------------------------------------------------|

----

**PART      2**

**OTHER      WARRANTIES**

| **1.** | **GENERAL** |
|--------|-------------|

| **1.1** | **Accuracy                of recitals and schedules** |
|---------|-------------------------------------------------------|

| **1.2** | **Capacity                and consequences of sale** |
|---------|------------------------------------------------------|

| (a) | Each                Obligor has the requisite capacity, power and authority to enter                into and                to perform this agreement. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | This                agreement                and all other documents to be entered into by the Obligors                in                connection with this agreement                will, when executed, constitute binding obligations on each                Obligor in accordance with their respective                terms. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | The                signature of and the compliance with the terms of this agreement                does not and will not: |
|-----|---------------------------------------------------------------------------------------------------------------------------|

|   | (i) | conflict                with or constitute a default under any provision                of: |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (A) | any                agreement or instrument to which any                Obligor or the Company                is                a party; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | (B) | the                constitutional and corporate documents of the                Company, except that as of the of this agreement the Obligors has                not                obtained waivers of pre-emption rights of other shareholders under                the                articles of association of the Company to the transaction under this                agreement, which waivers the Obligors will however obtain by                Completion; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (C) | any                order, judgment, decree or regulation or any other restriction of                any kind                by which any                Obligor or the                Company                is                bound; or |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | relieve                any other party to a contract with the                Company                of                its obligations or enable that party to vary or terminate its rights                or                obligations under that contract; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | result                in the creation or imposition of any Encumbrance on any of assets                of the                Company                (including the Participation Interest in Markíza) or the repayment of any                indebtedness of the                Company. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | No                announcements, consultations, notices, reports or filings are required                to                be made in connection with the transactions contemplated by this                agreement                and no consents, approvals, registrations, authorisations or permits                are                required to be obtained by the Sellers                or                the                Company                in                connection with the execution and performance of this agreement. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **1.3** | **Constitutional                and corporate documents** |
|---------|-----------------------------------------------------------|

| (a) | The                Company has                been duly incorporated and properly formed, and is validly existing                under                the laws of the jurisdiction of its                incorporation. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (b) | The                list of shareholders and other statutory books and registers of the                Company have been properly kept and no notice or allegation that                any of                them is incorrect or should be rectified has been                received. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | All                returns, resolutions and other documents which the Company is required                by                law to file with or deliver have been correctly made up and duly                filed or                delivered. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | The                copies of the constitutional and corporate documents of the Company                which                have been given to the Purchaser or its advisers are true and accurate                and                complete, and have not been                breached. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **1.4** | **Ownership                of the****Shares** |
|---------|-----------------------------------------------|

| (a) | The                Sellers are                the sole owners                of                those of the Shares set opposite such Seller's name in column (B)                of                Schedule 1 and                have                full power, right and authority to transfer them to the                Purchaser. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | The                Shares                constitute 66% of the entire issued share                capital                of                the Company. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | The                Shares                have been validly issued as global shares and are fully paid up.                The paid                up capital has not been repaid. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | No                person is entitled or has claimed to be entitled to require the                Company                to                issue any share                either now or at any future date and whether contingently or                not. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e) | There                is no Encumbrance on, over or affecting any of the Shares,                nor is there any commitment to give or create any of the foregoing,                and no                person has claimed to be entitled to any of the foregoing. There                are no                outstanding depositary receipts in relation to the Shares. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **1.5** | **Subsidiaries,                associations and branches** |
|---------|------------------------------------------------------------|

|   | (a) | does                not hold, nor has it agreed to acquire, any interest of any other                company                (except for the Participation Interest in                Markíza); |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | is                not, nor has it agreed to become, a member of any partnership (whether                incorporated or unincorporated) or other unincorporated association,                joint                venture or consortium (other than recognised trade associations);                and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | does                not have any branch or any permanent                establishment. |
|--------|-----|----------------------------------------------------------------------------------------|

| **1.6** | **Insolvency** |
|---------|----------------|

|   | (a) | is                not, or is not deemed for the purposes of any law to be, unable to                pay its                debts as they fall due or insolvent; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | has                not admitted its inability to pay its debts as they fall                due; |
|--------|-----|-------------------------------------------------------------------------------------------------|

|   | (c) | has                not suspended making payments on any of its debts or announces an                intention to do so; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------|

|   | (d) | has                not begun negotiations with any creditor for the rescheduling of                any of                its indebtedness; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | has                not had any step taken with a view to a moratorium or a composition,                assignment or similar arrangement with any of its                creditors; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (f) | has                not had a meeting of its shareholders, directors or other officers                convened for the purpose of considering any resolution for, to petition                for or to file documents with a court for, its winding-up, administration                or dissolution or passed any such resolution; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | has                not had any person present a petition, or file documents with a court,                for                its bankruptcy, composition, winding-up or                dissolution; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | has                not had an order for its bankruptcy, composition, winding-up,                administration or dissolution made; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | has                not had any liquidator, trustee in bankruptcy or composition, or                similar                officer appointed in respect of it or any of its assets;                and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | has                had any other analogous step or procedure taken in any jurisdiction,                or                should have taken any step mentioned above but has not done                so. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **1.7** | **Ownership                of assets** |
|---------|----------------------------------------|

| **1.8** | **Specific                Warranties on the sale of Participation Interest                1** |
|---------|-----------------------------------------------------------------------------------------------|

|   | (a) | has                not been done in circumstances where the consideration actually received                or receivable for the disposal is less than or exceeds the consideration                which could be deemed to have been received for tax purposes; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | could                not be viewed as tax avoidance or tax evasion by a tax authority; |
|--------|-----|----------------------------------------------------------------------------------------|

|   | (c) | could                not result in the Company liability to make any payment of Taxation;                and |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

|   | (d) | could                not be capable of being set aside, challenged, reversed, voided or                affected in whole or in part by any creditor of the Company or any                third                party (whether in bankruptcy, composition, liquidation or any similar                proceedings or otherwise). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **1.9** | **Vulnerable                prior transactions** |
|---------|--------------------------------------------------|

| **1.10** | **Compliance                with statutes** |
|----------|---------------------------------------------|

| **1.11** | **Licences                and consents** |
|----------|------------------------------------------|

----

| **1.12** | **Insider                contracts** |
|----------|--------------------------------------|

| (a) | The                Company is                not                a                party to any contract or arrangement in which any of the Sellers                or any                person connected with any of the Sellers is interested, directly                or                indirectly, except for the Agreement on coordinated procedure, nor                has                there been any such contract or arrangement at any time during three                years                ending on the date of this                agreement. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | The                Company is                not                a                party to, nor have the profits or financial position of the                Company                during three financial periods ended on the Accounts Date been affected                by, any contract or arrangement which is not of an entirely arm's                length                nature. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | None                of the Sellers nor any person connected with any Seller is a party                to any                contract or arrangement for the provision of finance, goods, services                or                other facilities to or by the                Company                or                in any way relating to, or to the affairs of, the                Company. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **1.13** | **Litigation** |
|----------|----------------|

| (a) | The                Company is                not                engaged in any litigation, arbitration or alternative dispute resolution                proceedings and there are no such proceedings pending or threatened                by or                against the                Company. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | So                far as the Sellers are                aware, there are no circumstances which are likely to give rise to                any                litigation, arbitration or alternative dispute resolution proceedings                by                or against the                Company. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | The                Company is                not                the subject of any investigation, inquiry, enforcement proceedings                or                process by any governmental, administrative or regulatory body nor,                so far                as the Sellers are                aware, are there any circumstances which are likely to give rise                to any                such investigation, inquiry, proceedings or                process. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **1.14** | **Environmental                matters** |
|----------|------------------------------------------|

| (a) | The                Company                has at all times complied with all applicable laws concerning the                protection of the environment, human health or welfare, the conditions                of                the workplace or the generation, transportation, storage, treatment                or                disposal of any waste. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | The                Company has not                used, disposed of, generated, stored, treated, transported, dumped,                released, deposited, buried or emitted any waste or dangerous                substance. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **2.** | **ACCOUNTS                AND FINANCIAL** |
|--------|-------------------------------------------|

| **2.1** | **Accuracy                of Accounts** |
|---------|-----------------------------------------|

|   | (a) | have                been prepared in accordance with generally accepted accounting principles                and practices in Slovakia and the applicable law and                regulations; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | have                been prepared by the Accountants and will be authorised by the auditor                who                will render an auditor's certificate without                qualification; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | state                the assets and liabilities of the Company and are true and correct                in all                respects and fairly present the financial state of affairs of the                Company                as at the Accounts Date and of the profit or loss of the Company                for the                period ended on the Accounts Date or (as the case may be) in respect                of                the periods for which they were                prepared; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (d) | contain                either provisions or reserves, as required under generally accepted                accounting principles in Slovakia and the applicable laws and regulations,                to cover all Taxation (including deferred Taxation) and other liabilities                (whether quantified, contingent or otherwise), bad and doubtful accounts                payable and as at the Accounts                Date; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | do                not show any material one-off extraordinary items, including                gains;                and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------|

|   | (f) | have                been duly filed in accordance with applicable                law. |
|--------|-----|---------------------------------------------------------------------------------------|

| **2.2** | **Business** |
|---------|--------------|

| **2.3** | **Books                and records** |
|---------|--------------------------------------|

|   | (a) | have                been properly maintained and contain accurate records of all matters                required to be entered in them under the applicable laws;                and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | give                a true and fair view of the matters which ought to appear in                them. |
|--------|-----|-------------------------------------------------------------------------------------------------------|

| **2.4** | **Position                since Accounts Date** |
|---------|-------------------------------------------------|

|   | (a) | there                has been no deterioration in the financial position or the prospects                of                the                Company;                and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the                Company                has paid its creditors within the times agreed with them and, without                limiting the foregoing, and the Company has no indebtedness other                than the                indebtedness shown in the accounting records of the Company all of                which                shall be repaid before the Completion                Date. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **2.5** | **Capital                commitments** |
|---------|----------------------------------------|

| **2.6** | **Dividends                and distributions** |
|---------|------------------------------------------------|

| (a) | No                dividend or other distribution of profits or assets has been or agreed                to                be declared, made or paid by the                Company                since the Accounts Date. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | All                dividends or other distributions of profits or assets declared, made                or                paid since the date of incorporation of the                Company                have been declared, made and paid in accordance with law and its                constitutional documents. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **2.7** | **Borrowings,                loan capital and                guarantees** |
|---------|---------------------------------------------------------------------------|

| **2.8** | **Derivative                transactions** |
|---------|--------------------------------------------|

| **2.9** | **Government                grants** |
|---------|--------------------------------------|

| **2.10** | **Loans** |
|----------|-----------|

| **2.11** | **Bank                accounts** |
|----------|----------------------------------|

| (a) | The                statement of the Company's                bank accounts as at a date not more than two days before the date                of this                agreement given to the Purchaser is correct, and the                Company does                not have                any bank or deposit account (whether in credit or overdrawn) not                included                in that statement. Since the date of that statement there has not                been any                payment out of any of the accounts concerned and the balance on each                such                account is not materially different from the balance shown on that                statement. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | At                Completion, at least SKK 8,000,000 is available as free cash on the                bank                account of the Company. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|

| **2.12** | **Political                and charitable donations** |
|----------|-------------------------------------------------------|

| **3.** | **COMMERCIAL** |
|--------|----------------|

| **3.1** | **Suppliers                and customers** |
|---------|--------------------------------------------|

| **3.2** | **Contracts** |
|---------|---------------|

*.*

----

| **3.3** | **Anti-competitive                arrangements** |
|---------|--------------------------------------------------|

| **3.4** | **Intellectual                property** |
|---------|------------------------------------------|

| (a) | The                Company never had or licensed any Intellectual Property Rights. |
|-----|------------------------------------------------------------------------------------|

| (b) | No                activities of the                Company                infringe or are likely to infringe any Intellectual Property Right                of any                third party and no claim has been made against the                Company                or                any such licensee in respect of such                infringement. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | So                far as the Sellers are                aware there has been no unauthorised use by any person of any confidential                information of the                Company. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **3.5** | **Business                names** |
|---------|-----------------------------------|

| **3.6** | **Powers                of attorney** |
|---------|---------------------------------------|

*Stredisko      cenných papierov SR, a.s.*

| **4.** | **TAXATION** |
|--------|--------------|

| (a) | The                Company maintains adequate and proper records for tax purposes, and                has                made all filings of its tax returns. The Company is not in any dispute                with any tax authority. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | All                Taxation of any nature whatsoever for which the Company is and has                been                liable or for which the Company is and has been liable to account                has been                duly paid (insofar as such taxation ought to have been paid) and                the                Company has made all such deductions and retentions as it was obliged                or                entitled to make and all such payments in respect of these deductions                and                retentions as should have been made except for a penalty of SKK 4,124.-                for the late payment of an advance for the income tax for 2002 that                will                be paid as of the Completion Date. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | The                Company has not paid or become liable to pay, and there are no                circumstances by reason of which the Company is likely to become                liable to                pay, any penalty, fine, surcharge or interest in respect of                Taxation. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | The                Company has not received any notice of enquiry or suffered any enquiry,                investigation, audit or visit by any taxation or excise authority,                and no                such enquiry, investigation, audit or visit planned. The Company                has not                been a party to or otherwise involved in any transaction which could                be                viewed as tax avoidance or tax evasion by a tax                authority. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **5.** | **EMPLOYEES** |
|--------|---------------|

----

**SCHEDULE      4**

**COMPLETION**

**PART      1**

**SELLERS'**
**      Obligations**

| (a) | the                delivery to the Purchaser of: |
|-----|--------------------------------------------------|

|   | (i) | an                extract from the Company's entry in the relevant Commercial Register                certified by the relevant Commercial Register, as at a date no earlier                than the Completion Date and showing the particulars relating to                the                Company set out in Schedule 2 to                this agreement; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the                share certificates representing the Shares duly endorsed for the                benefit                of the Purchaser; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the                full list of shareholders (in Slovak "*zoznam                akcionárov*")                issued by the Central Depositary for the Company and showing the                Purchaser                as the registered holder of all the shares in the                Company; |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | all                the corporate documents, accounts and other contracts and documents                of                the                Company; |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | the                resignations of all members of board of directors and supervisory                board of                the Company, in each case acknowledging these persons have no claim                against the Company,                whether for loss of office or                otherwise; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | the                resignations                of Mr. Ján Kováčik and Ing. František Vizváry as the executives of                Markíza, in each case acknowledging they have no claim against Markíza,                whether for loss of office or                otherwise; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | the                resignations of Ing. František Vizváry as the executive of STS,                acknowledging Ing. František Vizváry has no claim against STS, whether for                loss of office or otherwise; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (viii) | certified                copies of the minutes of the meetings referred to in                paragraphs (b)                to (d)                below; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ix) | a                confirmation of the relevant Commercial Register that the new memorandum                of association of Markíza in the Agreed Form and the new memorandum of                association and articles of STS, certified for accuracy by the executives                of respective company have been filed with the collection of deeds                at the                relevant Commercial Register; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | that                an extraordinary general meeting of the                Company                is                held at which it is resolved that: |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the                resignation of all members of its board of directors and supervisory                board                is acknowledged and such persons as the Purchaser nominates are appointed                as new members of its board of directors and supervisory                board; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | its                registered office is changed to such address as the Purchaser notifies                to                the Seller; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | its                bank account mandates are revised in such manner as the Purchaser                requires; |
|--------|-------|---------------------------------------------------------------------------------------------------------------|

| (c) | that                an extraordinary general meeting of Markíza                is                held at which it is resolved that: |
|-----|------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (i) | the                  division of the Participation Interest in Markíza into the Participation                  Interest 1 and the Participation Interest 2 is                  approved; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the                transfer by the Company to MEDIA INVEST of the Participation Interest                1 is                approved; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the                new memorandum of association of Markíza in the Agreed Form is adopted;                and |
|--------|-------|--------------------------------------------------------------------------------------------------------------------|

|   | (iv) | the                resignation of Mr                Ján Kováčik and Ing. František Vizváry                as                executives is acknowledged; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | that                an extraordinary general meeting of STS                is                held at which it is resolved that: |
|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the                new memorandum of association and articles of STS in the Agreed Form                is                adopted; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the                resignation of Ing. František Vizváry as the executive is                acknowledged. |
|--------|------|---------------------------------------------------------------------------------------------------------------------|

| (e) | that                an extraordinary general meeting of MEDIA                INVEST                is                held at which it is resolved that: |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the                division of the 100% participation interest of Ján Kováčik in MEDIA                INVEST                in                two participations interest, each of 50%, is                approved; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the                transfer of the divided 50% participation interest to Ing. Milan                Fiľo is                approved; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the                new memorandum of association and articles of MEDIA INVEST in the                Agreed                Form is adopted; and |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | another                executive Ing. Milan Fiľo is                appointed. |
|--------|------|------------------------------------------------------------------------------------|

----

**PART      2**

**PURCHASER'S      OBLIGATIONS**

----

**SCHEDULE      5**

**INTERPRETATION**

| 1. | In                this agreement: |
|----|-----------------------------------|

**Accounts**

**Accountants**

**Accounts      Date**

**Agreed      Form**

**Agreement      on coordinated procedure **

**Broadcasting      Act**

**Business      Day **

**Central      Depositary **
*Centrálny      depozitár cenných papierov SR, a.s. *

**Commercial      Code**

**Commercial      Register**

**Completion**

**Completion      Date **

**Conditions**
**Condition      **

**Consideration      **

**Council**

**Deferred      Consideration**

**Encumbrance**

----

**EURO      **

**EURIBOR**

**Initial      Consideration**

**Material      Adverse Effect**

**Markíza      **

**Markíza      Licence**

**MEDIA      INVEST **

**Mediapro**

**Participation      Interest in Markíza**

**Participation      Interest**
**1**

**Participation      Interest**

**PMU      **
*Protimonopolný      úrad Slovenskej republiky*

**Purchaser's      Counsel**

**Related      Person **
**subject**
*ovládaná      a ovládajúca osoba*
**connected**

----

**Rusko      Shares**
*na      meno*
*listinné*

**Securities      Act**

**Shares**
*na      meno*
*listinné*

**SKK      **

**STS      **

**Taxation      **

**Transaction      **

**Transaction      Documents**

**Warranties**

**Warranty      Claim **

| 2. | Any                reference, express or implied, to an enactment includes references                to: |
|----|----------------------------------------------------------------------------------------------------------|

|   | (a) | that                enactment as re enacted, amended, extended or applied by or under                any                other enactment (before or after the signature of this                agreement); |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any                enactment which that enactment re enacts (with or without modification);                and |
|--------|-----|----------------------------------------------------------------------------------------------------------------|

|   | (c) | any                subordinate legislation made (before or after the signature of this                agreement) under that enactment, as re enacted, amended extended                or                applied as described in paragraph (a) above, or under any enactment                referred to in paragraph (b) above, |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 3. | In                this agreement: |
|----|-----------------------------------|

|   | (a) | words                importing the singular shall include the plural and vice                versa; |
|--------|-----|-----------------------------------------------------------------------------------------------------|

|   | (b) | words                denoting persons shall include bodies corporate and unincorporated                associations of persons and vice versa; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | any                reference to **e**                is                to EURO ; and |
|--------|-----|--------------------------------------------------------------------------------------|

|   | (d) | references                to a party shall include the legal successors, heirs or assigns of                that                party. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------|

| 4. | A                person shall be deemed to be **connected**                with another if that person is dependent on another (in Slovak                "*závislá*")                within the meaning of §2 of the Slovak Income Tax Act No. 595/2003 Coll. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | In                this agreement, unless the contrary intention appears, a reference                to a                clause, sub-clause, exhibit or Schedule is a reference to a clause,                sub-clause, exhibit or schedule of this agreement. The Schedules                and                exhibits form part of this                agreement. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | The                headings in this agreement do not affect its                interpretation. |
|----|------------------------------------------------------------------------------------------------|

| 7. | Sub-clauses                1 to 8 apply unless the contrary intention is expressed in this                agreement. |
|----|----------------------------------------------------------------------------------------------------------------------|

----

**SIGNATORIES**

| Signed                by                Mr. Ján Kováčik     | )      | /s/Ján                Kováčik  |   |
|----------------------------------------------------------------------------|--------|-----------------------------------------------|--------|
| for                **MEDIA                PARTNER, spol. s r.o.**          |   |                                          |   |
|                                                                       |   |                                          |   |
|                                                                       |   |                                          |   |
|                                                                       |   |                                          |   |
|                                                                       |   |                                          |   |
| Signed                by Ing. Milan Fiľo                              | )      | /s/                Milan Fil’o          |   |
| for                **SALIS,                s.r.o.**                        |   |                                          |   |
|                                                                       |   |                                          |   |
|                                                                       |   |                                          |   |
|                                                                       |   |                                          |   |
| Signed                by **Ing.****Milan                Fiľo**        | )      | /s/Milan                Fil’o           |   |
|                                                                       |   |                                          |   |
|                                                                       |   |                                          |   |
|                                                                       |   |                                          |   |
| Signed                by **Mr.                Ján Kováčik** | )      | /s/                Ján Kováčik |   |
|                                                                       |   |                                          |   |
|                                                                       |   |                                          |   |
| Signed                by Signed by **Robert                E. Burke**,     | )      | /s/                Robert E. Burke            |   |
| under power              of attorney                                       |   |                                          |   |
| for                **CME                MEDIA ENTERPRISES B.V.**** ** | )      |                                          |   |

----