----

|   | **AGREEMENT                FOR THE SALE OF SHARES in A.R.J.,****A.S****.** |
|--------|----------------------------------------------------------------------------|
|   |                                                                       |
|   |                                                                       |
|   |                                                                       |
|   |                                                                       |
|   | **PhDr.                PAVOL RUSKO**                                       |
|   |                                                                       |
|   | **AND**                                                                    |
|   |                                                                       |
|   | **CME                MEDIA ENTERPRISES B.V.**                              |
|   |                                                                       |
|   |                                                                       |
|   |                                                                       |
|   |                                                                       |
|   | 28                October 2005                                             |

----

**CONTENTS**

| **Clause**   | **Page**                                           |
|--------------|----------------------------------------------------|
|         |                                               |
| 1.           | Interpretation                                     | 1 |
| 2.           | Sale                  and Purchase                 | 1 |
| 3.           | Conditions                  Precedent              | 2 |
| 4.           | Completion                                         | 3 |
| 5.           | Initial                  Consideration             | 5 |
| 6.           | Deferred                  Consideration            | 5 |
| 7.           | Pre-Completion                                     | 5 |
| 8.           | Loans                  and Guarantees              | 6 |
| 9.           | Warranties                                         | 7 |
| 10.          | Protective                  Covenants              | 8 |
| 11.          | Announcements                  and Confidentiality | 9 |
| 12.          | Notices                                            | 10 |
| 13.          | Further                  Assurances                | 11 |
| 14.          | Assignments                                        | 11 |
| 15.          | Payments                                           | 11 |
| 16.          | General                                            | 12 |
| 17.          | Whole                  Agreement                   | 12 |
| 18.          | Governing                  Law and Jurisdiction    | 12 |
| 19.          | Language                                           | 13 |
| 20.          | Termination                                        | 13 |
| 21.          | Amendments                                         | 13 |
|         |                                               |   |   |
| **Schedule** | **Page**                                           |
|         |                                               |   |   |
| 1.           | The                  Company                       | 14 |
| 2.           | Warranties                                         | 15 |
|         | Part                  1                            | Warranties                  regarding pre-Completion activities | 15 |
|         | Part                  2                            | Other                  Warranties | 16 |
| 3.           | Completion                                         | 24 |
|         | Part                  1                            | Seller's                  Obligations | 24 |
|         | Part                  2                            | Purchaser's                  Obligations | 26 |
| 4.           | Interpretation                                     | 27 |
|         |                                               |   |   |
| Signatories  | 31                                                 |

----

**THIS      AGREEMENT**

**BETWEEN**

| (1) | **PhDr.                Pavol Rusko**,                residing at Ľudovíta Fullu No. 10, 841 05 Bratislava, birth No.                630820/7147 (the **Seller**);                and |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | **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                Seller is an owner of 34 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                Seller wishes to sell and the Purchaser wishes to purchase 34 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                4                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,                the                Seller                shall sell and the Purchaser shall purchase the                Shares. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 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 clauses 5 and 6. |
|-----|------------------------------------------------------------------------------------------------------------------------------------|

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

| 2.5 | The                Seller: |
|-----|----------------------------|

----

|   | (a) | covenants                with the Purchaser that it                has the right to sell and transfer to the Purchaser the ownership                title in                the Shares on the terms set out in this agreement;                and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | waives                all rights of pre-emption which he may have (whether under the                Company's constitutional documents or otherwise) in respect of the                transfer to the Purchaser of any shares of the Company 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 being satisfied on inspection and investigation as                to: |
|--------|-----|----------------------------------------------------------------------------------------------------|

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

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

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

|   | (i) | the                PMU notifying the Purchaser 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 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 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 a certified copy of an Amendment No. 2                to the                Agreement on coordinated procedure in Agreed Form executed by the                relevant                parties and an agreement for the termination of the Agreement on                coordinated procedure in Agreed Form executed by the relevant                parties; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | 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 the Seller of the                Shares                from Mediapro; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | 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; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (h) | the                Purchaser having received from the Seller 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                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 the Conditions above (either in whole or in part)                at                any time by giving notice to the Seller. 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 Condition 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 11                to                21                and the provisions of Schedule                4,                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(g)                (save for 3.1(h)                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 Seller of this fact in                writing. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.5 | Each                party shall promptly inform the other party in writing about any                relevant                matters in relation to, and shall keep the other party 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 the other party with all information which                the                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                15.00 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                Purchaser shall notify the Seller as to whether it has completed                the                purchase of the Other ARJ Shares; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | if                the Purchaser notifies the Seller that it has completed the purchase                of                the Other ARJ Shares; then: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the                Seller shall observe and perform the provisions of Part                1                of                Schedule                3;                and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the                Purchaser shall observe and perform the provisions of Part                2                of                Schedule                3; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | if                the Purchaser notifies the Seller that it has not completed the purchase                of the Other ARJ Shares, then the Purchaser may elect 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                Seller. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.3 | If                for any reason the provisions of Part                1                of                Schedule                3                are not fully observed and performed as contemplated by clauses                4.1                and 4.2                within three days from the day on which the Completion shall take                place                pursuant to clause 4.1,                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 Seller. 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: |
|-----|---------------------------------------------------------------------------------------------------|

|   | (a) | except                for this sub-clause, clauses 11                to                21                and the provisions of Schedule                4,                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) | pursuant                to sub-clause 4.3                as                a result of any of the provisions                of: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | clause                (a) of Part                1                of                Schedule                3;                or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | clause                (c) of Part                1                of                Schedule                3                in                relation to the resignations of Ing. František Vizváry and Stanislav                Pavlík; or |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | clause                (d) or (e) of Part                1                of                Schedule                3                in                relation to the resignations of Ing. František                Vizváry, |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | 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 |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | pay                to the Purchaser a contractual penalty in the an amount equal to                10% of                the Initial 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.** | **INITIAL                CONSIDERATION** |
|--------|------------------------------------------|

| 5.1 | The                initial consideration for the sale of the Shares shall be SKK                494,000,000. |
|-----|--------------------------------------------------------------------------------------------------------------|

| 5.2 | The                Initial Consideration is, under clause 4                and Schedule                3,                to be paid to the Seller                on                the later of: (i) 1 January 2006 and (ii) the Completion Date. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **6.** | **DEFERRED                CONSIDERATION** |
|--------|-------------------------------------------|

| 6.1 | As                further consideration for the sale of the Shares, the Seller                shall (subject to the terms of this agreement) be entitled to a sum                of SKK                81,000,000 (the **Deferred                Consideration**). |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2 | The                Deferred Consideration shall be paid to the Seller on or before 31                May                2006. |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

| **7.** | **PRE-COMPLETION** |
|--------|--------------------|

| **7.1** | **Access** |
|---------|------------|

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

|   | (b) | provide                such information regarding the Company which is available to the                Seller 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. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **7.2** | **Notice                of any change** |
|---------|-----------------------------------------|

|   | (a) | The                Seller 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. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **7.3** | **Brand                rights** |
|---------|---------------------------------|

|   | (a) | From                the signing of this agreement, the Seller shall exercise all rights                and                powers available to him so as to procure that neither he nor his                Related                Persons shall use the logo, trade name or word "Markíza" or similar or                shall not take any steps in such manner that that Markíza would not have                an exclusive and full rights and use of the logo, trade name 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 and                except                as provided in (b) below. From the Completion Date, neither the Seller                nor                any Related Person to the Seller shall use the logo, trade name or                word                "Markíza" or similar, except as agreed in any licence agreement entered                into between STS and any such                party. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | For                avoidance of any doubt, the parties acknowledge                that: |
|--------|-----|-----------------------------------------------------------------------------------------|

|   | (i) | the                Seller is obliged to procure that: |
|--------|-----|-------------------------------------------------------|

|   | (A) | from                the Completion Date the company www.markiza.sk a.s., ID No. 35 780                908                will be renamed to www.mark.sk a.s. or to some other name and will                not use                the logo, trade name or word "Markíza" or similar, except as agreed in any                licence agreement with STS provided that the company www.markiza.sk                a.s.                is a Related Person to the Seller; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (B) | from                the Completion Date each of TV TIP, a.s. Bratislava, Identification                No.:                35 728 426, the company IMPEX distribution, s.r.o., ID No. 35 740                574 and                EDÍCIA MARKÍZA, s.r.o., ID No. 35 762 756 (each a **Target**)                will not use the logo, trade name or word "Markíza" or similar, except as                agreed in any licence agreement entered into with STS after the signing                of                this agreement, provided that the respective Target is a Related                Person to                the Seller; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (C) | by                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 to                the                Purchaser provided that TV TIP, a.s. Bratislava, Identification No.:                35                728 426 is a Related Person to the Seller;                and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (D) | by                the Completion Date, the foundation MARKÍZA, registration No.:                203/Na-96/552, will be renamed so that its name will not to contain                the                word "Markíza" or similar. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the                company www.markiza.sk a.s., ID No. 35 780 908 will have the right                to use                trade name or word or trade mark                "Mark". |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | If                the Seller breaches any of its obligation set out in this clause                7.3, it                shall pay to the Purchaser a contractual penalty of SKK 3,000,000                for each                breach. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **8.** | **LOANS                AND GUARANTEES** |
|--------|-----------------------------------------|

| 8.1 | 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 the Seller (or any Related Person to the Seller) other                than the                indebtedness shown in the accounting records of the Company that                shall be                repaid in full by the Company at Completion;                and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

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

| 8.2 | The                Seller shall procure that on or before Completion all indebtedness                due                from the Seller (or any Related Person to the Seller) 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 the Seller (or any Related Person to the Seller)                to the                Company, contrary to the basis stated above, then the Seller shall                procure                that such indebtedness is immediately paid in                full. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.3 | The                Seller shall procure that on Completion the Company is released from                all                guarantees and indemnities given by the Company. The Seller shall                procure                that on Completion all indebtedness owing immediately before Completion                from the                Seller (or any Related Person to the Seller) to the                Company                is                or has been satisfied in full together with all interest accruing                on it up                to (but excluding) Completion. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **9.** | **WARRANTIES** |
|--------|----------------|

| 9.1 | The                Seller                represents and warrants to the Purchaser that each of the statements                set                out: |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | in                Part                1                of                Schedule                2                will at Completion be true, accurate and not misleading; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| 9.2 | 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. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.3 | 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. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.4 | 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                Seller                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 the Seller of any of its 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. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.5 | For                the purposes of clause 9.4                the parties confirm that: |
|-----|----------------------------------------------------------------------------------------|

|   | (a) | the                Seller has 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                Seller's promise to comply with all its 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. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

| 9.6 | The                Seller                informed the Purchaser that: |
|-----|-----------------------------------------------------------------------|

|   | (a) | the                Seller                brought a claim at the District court Bratislava II against Markíza to                determine that a general meeting of Markíza is invalid and the procedure                no. 23Cb 65/2005 is pending; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | MEDIA                INVEST brought a claim at the District court Bratislava I against                Sylvia                Volzová and Ivan Beňačka to determine that Ivan Beňačka is not the owner                of participation interest                in Markíza and the procedure no. 29Cb 104/05 is                pending. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **10.** | **PROTECTIVE                COVENANTS** |
|---------|-----------------------------------------|

| 10.1 | The                Seller covenants with the Purchaser that he                shall not and shall procure that no Related Person of the Seller                for the                time being shall: |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | except                as provided in clause 10.6,                for a period of two years after Completion be concerned in any business                carrying on business which is competitive or likely to be competitive                with                any of the businesses which creates a considerable part of revenues                of                Markíza                and/or STS;                or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | for                a period of two years after Completion canvass or solicit orders                for                services similar to those being provided by Markíza or                STS at                Completion from any person who is at Completion or has been at any                time                within the year prior to the Completion Date a supplier of Markíza                or                STS provided that if as a result of that these suppliers would stop                providing supplies or services to Markíza or STS;                or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | for                a period of two years after                Completion: |
|--------|-----|---------------------------------------------------------------------------|

|   | (i) | induce                or attempt to induce any person who is at Completion a director or                key                employee of Markíza or                STS                to                leave the employment of Markíza or                STS;                or |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | employ                or attempt to employ any person who is at Completion a director or                key                employee of Markíza or                STS;                or |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | for                a period of two years after Completion induce or attempt to induce                any                person, who is at Completion or has been at any time within the year                prior                to the Completion Date a supplier of goods or services to Markíza                or                STS,                to cease to supply, or to restrict or vary adversely the terms of                supply,                to Markíza or                STS;                or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | make                use of or (except as required by law or any competent regulatory                body)                disclose or divulge to any third party any information of a secret                or                confidential nature relating to, or to the business or affairs of                Markíza                or                STS; or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | do                anything that would have a Material Adverse Effect on Markíza or                STS. |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

| 10.2 | For                the purposes of this clause: |
|------|-------------------------------------------------|

|   | (a) | a                person is concerned in a business if it carries on the business as                principal or agent or if: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

----

|   | (i) | it                is a partner, director, employee, consultant or agent in, of or to                any                person who carries on the business;                or |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | it                has any direct or indirect financial interest (as shareholder or                otherwise) in any person who carries on the business;                or |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | it                is a partner, director, employee, consultant or agent in, of or to                any                person who has a direct or indirect financial interest (as shareholder                or                otherwise) in any person who carries on the business,                and |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | references                to Markíza or                STS                include its successors in business. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

| 10.3 | Each                of the restrictions in each paragraph or subclause above shall be                enforceable independently of each of the others and its validity                shall not                be affected if any of the others is                invalid. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.4 | If                any of those restrictions is void but would be valid if some part                of the                restriction were deleted, the restriction in question shall apply                with                such modification as may be necessary to make it                valid. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.5 | The                Seller acknowledges                that the above provisions of this clause are no more extensive than                is                reasonable to protect the Purchaser as the purchaser of the entire                share                capital in the Company. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.6 | The                Seller                is                entitled to come up with new ideas for a new theme for television                programme or to produce a new television programme (each of them                a                **TV                Product**),                however, the Seller                shall not be entitled to sell the TV Product without that TV Product                having first been offered to the Purchaser by notice in writing to                STS                (the **Notice**).                The Notice shall specify the TV Product and price at which it is                offered.                If, within 60 days after receipt of the Notice,                STS or the Purchaser does not notify the Seller that it wishes to                purchase                the TV Product, then the Seller will be entitled to sell the TV Product                to                a third party at a price being not less than price specified in the                Notice                and terms not less favourable to the Seller as those set out in the                Notice. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.7 | If                the Seller breaches any of its obligation set out in this clause                10, it                shall pay to the Purchaser a contractual penalty of SKK 3,000,000                for each                breach. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **11.** | **ANNOUNCEMENTS                AND CONFIDENTIALITY** |
|---------|------------------------------------------------------|

| 11.1 | 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 party,                such approval not to be unreasonably withheld or                delayed. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.2 | The                Purchaser: |
|------|-------------------------------|

|   | (a) | shall                keep confidential all information provided to it by or on behalf                of Seller                which relates to the Seller; and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| 11.3 | The                Seller shall: |
|------|----------------------------------|

----

|   | (a) | keep                confidential all information provided to it by or on behalf of the                Purchaser which relates to the Purchaser;                and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | and                shall procure that if after Completion the Seller 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. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.4 | Nothing                in this clause prevents any confidential information being                disclosed: |
|------|-------------------------------------------------------------------------------------------------------------|

|   | (a) | with                the written approval of the other party, 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 party, where practicable and lawful to do so, before disclosure                occurs and co-operate with the other party regarding the timing and                content of such disclosure or any action which the other party may                reasonably elect to take to challenge the validity of such                requirement. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.5 | 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. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **12.** | **NOTICES** |
|---------|-------------|

| 12.1 | 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 Seller at:                                       | (b)    | to                the Purchaser at:                                        |
|--------|------------------------------------------------------------------------|--------|----------------------------------------------------------------------------|
|   |                                                                   |   |                                                                       |
|   | G.                Lehnert, k.s.                                        |   | 71-91                Aldwych                                               |
|   |                                                                   |   |                                                                       |
|   | Carlton                Savoy Building                                  |   | London                WC2B 4HN                                             |
|   |                                                                   |   |                                                                       |
|   | Mostová                2, 811 02 Bratislava 1                     |   | United                Kingdom                                              |
|   |                                                                   |   |                                                                       |
|   | Slovak                Republic                                         |   |                                                                       |
|   |                                                                   |   |                                                                       |
|   | Fax:                +421 2 5980 0400                                   |   | Fax:                +44 20 7430 5403                                       |
|   |                                                                   |   |                                                                       |
|   | marked                for the attention of JUDr. Ján Ondruš, |   | marked                for the attention of General                Counsel, |

----

| 12.2 | 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. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.3 | 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 airmail                or                that the fax was properly addressed and transmitted, as the case                may                be. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **13.** | **FURTHER                ASSURANCES** |
|---------|---------------------------------------|

| 13.1 | On                or after Completion the                Seller                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. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.2 | In                relation to the                Company,                the Seller 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                or any agreement or obligation affecting it to give effect to the                Transaction Documents. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **14.** | **ASSIGNMENTS** |
|---------|-----------------|

| **15.** | **PAYMENTS** |
|---------|--------------|

| 15.1 | Unless                otherwise expressly stated (or as otherwise agreed in the case of                a given                payment), each payment to be made under this agreement shall be made                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 Seller,                    the account of the Seller                    at: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

| bank:                            | HVB                  Bank Slovakia a.s. |
|----------------------------------|-----------------------------------------|
|                             |                                    |
| account                  number: | 2162007001/8080                         |

|   | (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 Seller                for the purpose of that payment. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 15.2 | 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                BRIBOR 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. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 15.3 | If                the Seller is required by law to make a deduction or withholding                in                respect of any sum payable under this agreement, it                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. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **16.** | **GENERAL** |
|---------|-------------|

| 16.1 | 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. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.2 | 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. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **17.** | **WHOLE                AGREEMENT** |
|---------|------------------------------------|

| 17.1 | This                agreement and the Transaction Documents to which the Seller and the                Purchaser is a 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. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.2 | 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. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **18.** | **GOVERNING                LAW AND JURISDICTION** |
|---------|---------------------------------------------------|

| 18.1 | 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. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.2 | 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. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.3 | 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. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **19.** | **LANGUAGE** |
|---------|--------------|

| 19.1 | This                agreement is executed in two counterparts in English language. All                notices, demands, requests, statements, certificates or other documents                or                communications under this agreement shall be in English unless otherwise                agreed. A legally certified translation in Slovak language of this                agreement will be prepared. In case of any discrepancy between the                English                version of this agreement and its Slovak translation, the English                version                of this agreement shall prevail. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **20.** | **TERMINATION** |
|---------|-----------------|

| **21.** | **AMENDMENTS** |
|---------|----------------|

**AS      WITNESS**

----

**SCHEDULE      1**

**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      2**

**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, 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)                in excess of SKK 50,000 monthly; 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) | The                Seller                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 Seller in connection                with this agreement                will, when executed, constitute binding obligations on the                Seller                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 the                Seller                or                the Company                is                a party; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (B) | the                constitutional and corporate documents of the                Company, except that the Seller 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 will                be                obtained by the Seller by Completion; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (C) | any                order, judgment, decree or regulation or any other restriction of                any kind                by which the                Seller                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 Seller                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                Seller                is                the sole owner of the Shares and has                full power, right and authority to transfer them to the                Purchaser. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | The                Shares                constitute 34% of the 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 purchase of the Shares by the Seller from                Mediapro** |
|---------|-----------------------------------------------------------------------------------------------------------------|

|   | (a) | The                Seller is not aware that the purchase by the Seller                of                the Shares from Mediapro could be capable of being set aside, challenged,                reversed, voided or affected in whole or in part by any creditor                of                Mediapro or the Seller or any third party (whether in bankruptcy,                composition, liquidation or any similar proceedings or otherwise);                and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The                purchase by the Seller                of                the Shares from Mediapro could not result in any creditor of Mediapro                or                the Seller or any third party seeking satisfaction of its claim from                any                of the Shares. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Mediapro                does not have any creditors with claims exceeding in aggregate SKK                50,000                monthly and exceeding in aggregate SKK 500,000 in                total. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **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 the Seller or any person                connected with the Seller 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) | Neither                the Seller nor any person connected with the 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 Seller                is                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 Seller                is                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, 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** |
|----------|----------------------------------|

| **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 Seller                is                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** |
|---------|---------------------------------------|

| **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. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e) | As                far as the Seller is aware, all Taxation of any nature whatsoever                for                which the Seller is and has been liable has been duly paid (insofar                as                such taxation ought to have been                paid). |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

----

**SCHEDULE        3**

**COMPLETION**

**PART        1**

**SELLER'S**
**        Obligations**

| (a) | the                  share certificates representing the Shares duly endorsed for the                  benefit                  of the Purchaser (unless these share certificates have been delivered                  to                  the Purchaser earlier); |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | 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; |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | 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; |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | 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; |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e) | 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; |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f) | certified                  copies of the minutes of the meetings referred to in                  paragraphs (h)                  and (i)                  below; |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g) | a                  confirmation of the relevant Commercial Register that the new memorandum                  of association of Markíza in the Agreed Form, certified for accuracy by                  the executives of Markíza has been filed with the collection of deeds at                  the relevant Commercial Register; |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h) | 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 mandates are revised in such manner as the Purchaser                  requires; |
|--------|-------|-----------------------------------------------------------------------------------------------------------|

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

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

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

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

|   | (vii) | the                  resignation of Mr                  Ján Kováčik and Ing. František Vizváry                  is                  acknowledged. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**PART          2**

**PURCHASER'S          OBLIGATIONS**

----

**SCHEDULE      4**

**INTERPRETATION**

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

**Accounts**

**Accountants**

**Accounts      Date**

**Agreed      Form**

**Agreement      on coordinated procedure **

**BRIBOR      **

**Broadcasting      Act**

**Business      Day **

**Central      Depositary**

**Commercial      Code**

**Commercial      Register**

**Completion**

**Completion      Date **

----

**Conditions**
**Condition      **

**Consideration      **

**Council**

**Deferred      Consideration**

**Encumbrance**

**EURO      **

**Initial      Consideration**

**Material      Adverse Effect**

**Markíza      **

**Markíza      Licence**

**MEDIA      INVEST **

**Mediapro      **

**Other      ARJ Shares **
*na      meno*
*listinné*

**Participation      Interest in Markíza**

**Participation      Interest**
**1**

**Participation      Interest 2**

----

**PMU      **
*Protimonopolný      úrad Slovenskej republiky*

**Purchaser's      Counsel**

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

**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 6 apply unless the contrary intention is expressed in this                agreement. |
|----|----------------------------------------------------------------------------------------------------------------------|

----

**SIGNATORIES**

|                                                                              |   |                               |   |
|-----------------------------------------------------------------------------------|--------|------------------------------------|--------|
|                                                                              |   |                               |   |
|                                                                              |   |                               |   |
| Signed                by **PhDr.                Pavol Rusko**                     | )      | /s/                Pavol Rusko     |   |
|                                                                              |   |                               |   |
|                                                                              |   |                               |   |
|                                                                              |   |                               |   |
|                                                                              |   |                               |   |
| Signed                by **Robert                E. Burke**,                under | )      | /s/                Robert E. Burke |   |
| power of              attorney                                                    |   |                               |   |
| for                **CME                MEDIA ENTERPRISES B.V.**** **        | )      |                               |   |

| Signed                by **Viera                Rusková** | )      | /s/                Viera Rusková |   |
|----------------------------------------------------------------|--------|---------------------------------------|--------|
|                                                           |   |                                  |   |

----