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|   | Clause                                                 | Page   |
|--------|--------------------------------------------------------|--------|
|   |                                                   |   |
| 1.     | Definitions      and Interpretation                    | 5      |
| 2.     | Contributions      and Subscriptions                   | 12     |
| 3.     | Closing                                                | 13     |
| 4.     | Warranties                                             | 17     |
| 5.     | Certain      Covenants                                 | 19     |
| 6.     | Termination                                            | 24     |
| 7.     | Indemnities      and Liabilities                       | 24     |
| 8.     | Control      Retention; No Interference; Certain Costs | 27     |
| 9.     | Confidentiality                                        | 28     |
| 10.    | Assignment                                             | 29     |
| 11.    | Miscellaneous                                          | 29     |
| 12.    | Governing      Law and Arbitration                     | 32     |

| Schedule      1 – Form of Shareholders' Agreement   |
|-----------------------------------------------------------|
| Schedule      2 – Warranties                        |
| Schedule      3 – Actions Pending Closing           |
| Schedule      4 – CME Restructuring                 |
| Schedule      5 – TET Restructuring                 |
| Schedule      6 – Form of Alstrom Disclosure Letter |
| Schedule      7 – Alstrom Parties' Deliverables     |
| Schedule      8 – CME Parties' Deliverables         |

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| 1. | Alstrom Business Corp, a      company organized and existing under the Laws of the British Virgin      Islands with its registered address at Intershore Chambers, P.O.Box 4342,      Road Town, Tortola, British Virgin Islands ("Alstrom"); |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Michalakis Tsitsekkos, a      citizen of Republic of Cyprus residing at Stadiou, 37A Aglantzia, P.C.      2103, Nicosia, Cyprus, passport No. C355717, issued on 11 December 2001      ("Alstrom      Nominee"); |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Igor Valeryevich      Kolomoisky, a citizen of Israel residing at St. Galey Thelet 48,      Herzeliya, Israel, 46640, passport No. 10905729, issued on 2 October 2005      ("Kolomoisky"); |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Ihor Mykhailovich      Surkis, a citizen of      Ukraine, residing at 11, Dimitrova str. Flat 5, Kiev, Ukraine, passport      No. EC342649, issued on 17 November 2005 ("Surkis", and together      with Kolomoisky and Alstrom Nominee, the "Alstrom Owners", and      together with Kolomoisky and Alstrom, the "Alstrom      Parties"); |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Central European Media      Enterprises Ltd., a company organized under the Laws of Bermuda      with its registered address at Clarendon House, 2 Church Street, HM 11,      Hamilton, Bermuda ("CME Ltd."); |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | CME Ukraine Holding      B.V., a besloten      vennootschap met beperkte aansprakelijkheid organized under the laws of the      Netherlands with its registered address at Dam 5B, JS1012 Amsterdam,      the Netherlands ("Ukraine      Holding"); and |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | CME Cyprus Holding      Limited, a wholly-owned subsidiary of CME Ltd. and a limited      liability company organized and existing under the Laws of Cyprus,      identification code No. 155308 , located at 199 Makarios III Avenue,      Neocleous House, P.O. Box 50613, CY – 3608, Limassol, the Republic of      Cyprus,  (the "Company", and together      with CME Ltd. and Ukraine Holding, the "CME      Parties"), |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (A) | Alstrom,      Alstrom Nominee, Kolomoisky, Surkis, CME Ltd. and the Company (the "Original Parties")      entered into the Framework Agreement, dated 2 July 2009 (the "Original Framework      Agreement"). |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      Original Parties and Ukraine Holding now desire that (i) the Original      Framework Agreement (including the schedules thereto) be amended and      restated in its entirety by this Agreement and (ii) Ukraine      Holding accede to this Agreement as if it had been a party to the Original      Framework Agreement. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | Kolomoisky      and Surkis are, collectively, the sole Beneficial Owners (as defined      below) of 100% of the issued share capital of Alstrom, and the Alstrom      Nominee is the sole legal owner of 100% of the issued share capital of      Alstrom. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | Kolomoisky      and Surkis are, collectively, the Beneficial Owners of (i) CJSC      Telecompany "TET", a limited liability company organized and existing      under the Laws of Ukraine, located at 44, Peremogy Аvе.,      03057, Kyiv, Ukraine ("TET"), and (ii) "TET      Production" LLC, a limited liability company organized and existing under      the Laws of Ukraine, located at 44, Peremogy Аvе.,      03057, Kyiv, Ukraine ("TET Production", and      together with TET and each of their respective Subsidiaries, the "TET Group"), which TET      Group conducts television business inUkraine. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (E) | The      Alstrom Owners have caused, or promptly after the date of this Agreement      the Alstrom Owners will cause, 100% of the shares issued as securities of      TET and 100% of the ownership interests of TET Production to be      transferred to Bredgat Holdings Ltd, a private limited liability company      organized and existing under the Laws of Cyprus ("Holding      Company").  As a result of these transfers, the Alstrom      Owners will be, collectively, the sole Beneficial Owners of the Holding      Company.  Furthermore, prior to Closing (as defined below), the      Alstrom Owners will cause the entire issued share capital of Holding      Company to be contributed to Alstrom.  As a result of this      transfer, the Alstrom Owners will be the sole Beneficial Owners of      Alstrom. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (F) | CME      Ltd. is the sole Beneficial Owner of the Company and is the indirect owner      of the Studio 1+1 and Kino Group (as defined below) and has caused, or      prior to Closing will cause, the Company to become the indirect owner of      100% of the ownership interests of each of (i) Studio 1+1      LLC, a limited liability company organized and existing under the Laws of      Ukraine ("Studio      1+1"), (ii) Gravis-Kino      LLC, a limited liability company organized and existing under the Laws of      Ukraine ("Gravis"), (iii) TOR LLC, a      limited liability company organized and existing under the Laws of Ukraine      ("TOR"), (iv) ZHYSA LLC,      a limited liability company organized and existing under the Laws of      Ukraine ("ZHYSA"),      (v) TV      Stimul ("Stimul"),      a limited liability company organized and existing under the Laws of      Ukraine, (vi)      Ukrpromtorg-2003 LLC ("Ukrpromtorg"), a limited      liability company organized and existing under the Laws of Ukraine, (vii) Ukrainian      Media Services LLC, a limited liability company organized and existing      under the Laws of Ukraine ("UMS"), (viii) 1+1      Production LLC, a limited liability company organized and existing under      the Laws of Ukraine ("1+1      Production"), (ix) TV Media      Planet Limited, a limited liability company organized and existing under      the Laws of Cyprus ("TV      Media Planet"), (x)      International Media Services Ltd., a company limited by shares organized      and existing under the Laws of Bermuda ("IMS"), (xi) Innova Film      GmbH, a limited liability company organized and existing under the Laws of      Germany ("Innova      Film"), (xii) Grintwood      Investments Limited, a limited liability company organized and existing      under the Laws of Cyprus ("Grintwood"), and (xiii) Grizard      Investments Limited, a limited liability company organized and existing      under the Laws of Cyprus ("Grizard", together with      Ukraine Holding, Studio 1+1, Gravis, TOR, ZHYSA, Stimul, Ukrpromtorg, UMS,      1+1 Production, TV Media Planet, IMS, Innova Film and Grintwood, the      "Studio 1+1 and Kino      Group"), which companies conduct television, broadcasting, media      production and advertising business inUkraine. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (G) | Pursuant      to the terms of this Agreement and the other Transaction Documents (as      defined below), the Parties desire that the Company own and indirectly      operate the TET Group and the Studio 1+1 and Kino  Group. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (H) | Subject      to the terms of this Agreement, Alstrom will (i) make an      equity contribution to the Company in the amount of US$100,000,000 in cash      in exchange for the allotment of share capital of the Company, after which      allotment Alstrom will hold 49% (4,804 Shares) and CME Ltd. will hold 51%      (5,000 Shares) of the issued share capital of the Company (the "Alstrom Cash      Contribution"), and (ii) transfer      100% of the issued share capital of Holding Company to Ukraine Holding in      consideration of a payment of EUR 1,000 (the "Holding Company      Transfer"). |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 1. | DEFINITIONS      AND INTERPRETATION |
|----|-------------------------------------|

----

----

----

----

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| 1.2 | Interpretation and      Rules of Construction. |
|-----|------------------------------------------------|

|   | (a) | when      a reference is made in this Agreement to a Clause, Exhibit or Schedule,      such reference is to a Clause of, or an Exhibit or Schedule to, this      Agreement, unless otherwiseindicated; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      table of contents and headings for this Agreement are for reference      purposes only and do not affect in any way the meaning or interpretation      of this Agreement; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | whenever      the words "include," "includes," or "including" are used in this      Agreement, they are deemed to be followed by the words "without      limitation"; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | a      reference to "US Dollar" or "US $" means the lawful currency of the United      States of America; |
|--------|-----|-----------------------------------------------------------------------------------------------------------|

|   | (e) | a      reference to "EURO" or "EUR" means the lawful currency of the European      Union; |
|--------|-----|-------------------------------------------------------------------------------------------|

|   | (f) | the      words "hereof," "herein," and "hereunder" and words of similar import,      when used in this Agreement, refer to this Agreement as a whole and not to      any particular provision of thisAgreement; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | all      terms defined in this Agreement have the defined meanings when used in any      certificate or other document made or delivered pursuant hereto, unless      otherwise defined therein; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | references      in the singular shall include references in the plural and vice versa,      words denoting any gender shall include any other gender and words      denoting natural persons shall include any other  Persons; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | references      to a Person are also to its successors and permitted    assigns; |
|--------|-----|----------------------------------------------------------------------------------|

|   | (j) | references      to this Agreement and/or any other agreement are deemed to be references      to such agreement, as amended, modified or supplemented from time to      time; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | references      to "shares" shall be deemed to include any type of ownership interest      applicable to a Person under the Laws of the jurisdiction of incorporation      of such Person; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (l) | the      use of "or" is not intended to be exclusive unless expressly indicated      otherwise. |
|--------|-----|-------------------------------------------------------------------------------------------------|

----

| 2.  | CONTRIBUTIONS      AND SUBSCRIPTIONS |
|----------|--------------------------------------|

|   | (a) | to      transfer, convey, assign and deliver to Ukraine Holding 100% of the issued      share capital of Holding Company in consideration of the payment by      Ukraine Holding to Alstrom of cash consideration of EUR 1,000 pursuant to      the terms of the Holding Company Purchase Agreement;  and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | in      exchange for the receipt of the Subscription Shares pursuant to Clause      2.2(a), to make payment in accordance with Clause 3.2(a)(ii) of the      Alstrom Cash Contribution to the Company, and the Company agrees to accept      the Alstrom Cash Contribution. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | Subject      to satisfaction of the relevant conditions set forth in Clause 3.1, in      consideration for the Alstrom Cash Contribution, the Company shall allot      to Alstrom, and Alstrom shall subscribe for, 4,804 Shares (the "Subscription Shares"),      the capital allocation of which represents 49% of the entire issued share      capital of the Company upon Closing (on a post-subscription      basis).  Each Subscription Share so issued shall have a nominal      value of one (1) EURO and the remainder of the per-Subscription Share      purchase price shall be treated as share  premium. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Subscription Shares to be issued pursuant to Clause 2.2(a) shall rank      pari passu in all      respects with all other issued Shares.  Each Subscription Share      shall entitle the holder thereof to exercise one (1) vote on the matters      referred to the shareholders of the Company.  No other Shares or      securities shall be issued by the Company at  Closing. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | CME      Ltd. hereby waives and agrees to procure the waiver of any and all      pre-emption rights it may have in relation to any of the Subscription      Shares, whether under the Constitutional Documents of the Company or      otherwise. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | CLOSING |
|----|---------|

|   | (a) | General      conditions precedent to the performance by the Parties of their respective      obligations on the Closing Date: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | each      of the CME Restructuring and the TET Restructuring shall have been      completed; |
|--------|-----|----------------------------------------------------------------------------------------------|

|   | (ii) | [Intentionally  omitted]; |
|--------|------|---------------------------|

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|   | (iii) | the      Parties shall have made all required antimonopoly or merger control      notifications required by the transactions contemplated hereby to occur at      Closing and shall have received all required antimonopoly or merger      control approvals or consents so required, in each case in form and      substance reasonably satisfactory to the Parties, and no such      notifications, consents and approvals shall have been    revoked; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | all      of the broadcasting licenses of the TET Group Entities and the Studio 1+1      and Kino Group Entities shall have become effective and remain in full      force and effect and shall not have been challenged or      revoked; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | no      Litigation shall have been filed and be pending, no Governmental Authority      shall have notified any Party of its intention to commence, or recommend      the commencement of, Litigation and no Law shall have been enacted,      entered, enforced, promulgated or issued with respect to or deemed      applicable, which in any case seeks or purports to challenge, prohibit,      materially interfere with, materially limit, delay, restrain, impose      damages or other material obligations in connection with or materially      increase the cost of the consummation of the transactions contemplated by      this Agreement and the other Transaction Documents, including the      acquisition, ownership, control, operation, voting or disposition by the      Company of the TET Group and/or the Studio 1+1 and Kino Group or the      on-going business of the TET Group and/or the Studio 1+1 and Kino Group or      the other Assets or operations of the TET Group Entities and/or the Studio      1+1 and Kino Group Entities; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | consummation      of the transactions contemplated hereby and by the other Transaction      Documents shall not have been restrained, enjoined or otherwise prohibited      or made illegal by any applicable Law, including any court order, and no      such Law or order that would have such an effect shall have been      threatened, promulgated, entered, issued or determined by any court or      other Governmental Authority to be applicable to this Agreement or any      other Transaction Document. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Conditions      precedent to the performance by the Company, Ukraine Holding and CME Ltd.      of their respective obligations on the Closing  Date: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | there      shall have been no breach of any Alstrom Warranty, Alstrom Owner Warranty      or Fundamental TET Group Warranty and no material breach of any other TET      Group Warranty, in each case at and as of the date when first given and at      and as of the Closing Date with the same effect as though made at and as      of the Closing Date, it being understood that, for purposes of determining      the accuracy of any such Warranty, all monetary thresholds and other      materiality qualifications set forth in such Warranty shall be      disregarded.  Each of the Alstrom Owners and Alstrom shall have      in all material respects duly performed and complied with all agreements,      covenants and conditions required by this Agreement to be performed or      complied with by it at or prior to Closing.  Alstrom shall have      delivered to each of CME Ltd. and the Company a certificate, dated the      Closing Date and signed by a duly authorized officer to the effect set      forth above in thisClause 3.1(b)(i); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | Alstrom      and the TET Group Entities shall have received all consents,      authorizations or approvals or delivered all notices required by the      Constitutional Documents of the relevant Person, any Governmental      Authority in any relevant jurisdiction or under any of Alstrom Parties’      Material Contracts in respect of the contribution of the TET Group      Entities to the Company and/or the continued operation of the business of      the TET Group by the Company after the Closing Date, excluding      antimonopoly or merger control notifications, consents and approvals,      which are instead addressed by Clause 3.1(a)(iii), in each case in form      and substance reasonably satisfactory to CME Ltd., and no such consents,      authorizations, approvals or notices shall have been    revoked; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (iii) | the      TET Restructuring shall have been completed and Holding Company shall hold      all of the right, title and interest in and to 100% of the ownership      interests of each of TET and TETProduction; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | CME      Ltd. shall have received an opinion satisfactory to CME Ltd. from an      independent third-party international investment bank that the      transactions contemplated by this Agreement comply with the terms of CME      Ltd.'s senior indebtedness (the "Indenture Compliance      Opinion"); |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | CME      Ltd. and the Company shall have (i) been      satisfied with the results of the legal, financial, operational and other      due diligence of the TET Group Entities, the proposed Alstrom Disclosure      Letter and the transactions contemplated hereby, including the TET      Restructuring and confirmation of the ability for the TET Group Entities      to substantively and in a timely manner comply with (x) the      financial reporting requirements applicable to CME Ltd. and (y) the CME Ltd.      business practices referred to in clause 5 of the Shareholders' Agreement      and (ii)      confirmed such satisfaction in writing to  Alstrom; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | Alstrom      shall have procured on a best efforts basis that, in respect of each      Minter Contract, one of the following shall have  occurred: |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | all      documents necessary to effect a Minter Assignment, on terms and in forms      satisfactory to CME Ltd. (acting reasonably), shall have been executed by      each of Minter and Holding Company;or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | in      place of such Minter Contract, a new agreement (on the same material terms      as the relevant Minter Contract) shall have been entered into between      Holding Company and the relevant third party;or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Minter      and Holding Company shall have entered into a sublicense agreement on      terms and in a form satisfactory to CME Ltd. (acting reasonably) in      respect of such Minter Contract; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | each      of the Alstrom Owners and Alstrom shall have executed all of the Closing      Date Documents and Alstrom Parties' Deliverables to which it is a party      and such Closing Date Documents shall be ready for exchange at      Closing; |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (viii) | no      event, occurrence, fact, condition, change, development or effect shall      exist or have occurred or come to exist or been threatened in respect of      any TET Group Entity since the date of this Agreement that, individually      or in the aggregate, has resulted in, or would reasonably be expected to      result in, in the reasonable judgment of CME Ltd., a Material Adverse      Effect; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ix) | Alstrom      shall have ensured that the shareholders of TET-Production have made their      outstanding contributions to the registered capital of TET-Production in      full prior to the TET Restructuring;  |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (x) | each of Investproekt      LLC, Shonest Investments Limited and Suniflon Holding Limited (TET      shareholders) shall have issued notarized statements confirming the waiver      of their pre-emption rights to acquire TET shares purchased by      (i)      Mr. Surkis under the Shares Purchase Agreement as of 07.08.2007 No. д42/07      and (ii)      Ms. Kovalyk under the Purchase Agreement as of 03.09.2007 No. д50/07 as      well as any claims in respect of such acquisitions, in form and substance      reasonably satisfactory to CME Ltd.;      and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (xi) | CME      Ltd. shall have received a written confirmation satisfactory to CME Ltd.      from Glavred-Media LLC and its participants that the transaction      contemplated by this Agreement and the other Transaction Documents does      not violate the agreement of shareholders of Glavred-Media LLC dated 18      February 2009. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Conditions      precedent to the performance by Alstrom of its obligations on the Closing      Date: |
|--------|-----|------------------------------------------------------------------------------------------------------|

|   | (i) | there      shall have been no breach of any CME Warranty, Ukraine Holding Warranty,      Company Warranty or Fundamental Studio 1+1 and Kino Group Warranty and no      material breach of any other Studio 1+1 and Kino Group Warranty, in each      case at and as of the date when first given and at and as of the Closing      Date with the same effect as though made at and as of the Closing Date, it      being understood that, for purposes of determining the accuracy of any      such Warranty, all monetary thresholds and other materiality      qualifications set forth in such Warranty shall be      disregarded.  Each of CME Ltd., Ukraine Holding and the Company      shall have in all material respects duly performed and complied with all      agreements, covenants and conditions required by this Agreement to be      performed or complied with by it at or prior to Closing.  Each      of CME Ltd., Ukraine Holding and the Company shall have delivered to      Alstrom a certificate, dated the Closing Date and signed by a duly      authorized officer to the effect set forth above in this      Clause 3.1(c)(i); |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      CME Restructuring shall have been completed and the Company shall hold all      of the right, title and interest in and to 100% of the direct and indirect      ownership interests of each of the companies in the Studio 1+1 and Kino      Group; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | each      of CME Ltd., Ukraine Holding and the Company shall have executed all of      the Closing Date Documents and CME Parties' Deliverables to which it is a      party and such Closing Date Documents shall be ready for exchange at the      Closing; and |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | no      event, occurrence, fact, condition, change, development or effect shall      exist or have occurred or come to exist or been threatened in respect of      any of the Company or any Studio 1+1 and Kino Group Entity since the date      of this Agreement that, individually or in the aggregate, has resulted in,      or would reasonably be expected to result in, in the reasonable judgment      of Alstrom, a Material AdverseEffect. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 3.2 | Closing      Date. |
|-----|--------------------|

|   | (a) | On      the Closing Date, the following actions shall take  place: |
|--------|-----|--------------------------------------------------------------------|

|   | (i) | each      of Alstrom, CME Ltd., Ukraine Holding and the Company shall execute a      letter agreement (the "Closing Memorandum")      confirming that: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | all      of the conditions precedent applicable to it set forth in Clause 3.1 are      satisfied or waived; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

|   | (2) | it      is satisfied with the Alstrom Parties' Deliverables or CME Parties'      Deliverables (as the case may be) delivered to  it; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | immediately      following (i) the      Holding Company Transfer pursuant to the Holding Company Purchase      Agreement and (ii) confirmation      from the bank referred to in Clause 5.1(d) that an irrevocable payment      instruction for a wire transfer in immediately available funds was      received in respect of the Alstrom Cash Contribution and will be honored,      the Subscription Shares shall be issued to Alstrom in accordance with      Clause 2.2 of this Agreement and in accordance with the Cyprus      Contribution Agreement; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      Alstrom Parties shall deliver to the CME Parties the Alstrom Parties'      Deliverables; and |
|--------|-------|-------------------------------------------------------------------------------------------------------|

|   | (iv) | the      CME Parties shall deliver to the Alstrom Parties the CME Parties'      Deliverables. |
|--------|------|-----------------------------------------------------------------------------------------------|

|   | (b) | If      for any reason Closing does not take place as contemplated by this Clause      3, the Parties shall cooperate to reverse such of the steps required for      Closing as have been undertaken or taken place so as to put the Parties as      closely as possible in the positions they were in prior to any steps      having been undertaken or taken place pursuant to this Clause      3. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.3 | Anticipated Closing      Date and Long-Stop Date. |
|-----|---------------------------------------------------|

|   | (a) | The      Parties intend that Closing shall take place at 1:00 p.m. (London time) at      the offices of the Company’s counsel in Limassol, Cyprus on 17 August      2009, or at such other time and place as Alstrom, the Company and CME Ltd.      may agree in writing (the "Closing      Date").  Each of the Parties shall use its reasonable      best efforts to ensure that all of the conditions set out in Clause 3.1      are satisfied by 17 August 2009.  The Closing shall not take      place between 4 September 2009 and 30 September  2009. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | In      the event that any of the conditions set out in Clause 3.1 have not been      fulfilled by 15 January 2010, any Party shall be entitled to terminate      this Agreement by written notice to the other Parties, provided that such      non fulfilment of any condition was not the direct result of any breach by      the Party seeking to terminate or any of its  Affiliates. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | WARRANTIES |
|----|------------|

| 4.1 | General      Warranties. |
|-----|--------------------------|

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| 4.2 | Alstrom      Warranties. |
|-----|--------------------------|

| 4.3 | CME      Warranties. |
|-----|----------------------|

| 4.4 | TET Group      Warranties. |
|-----|----------------------------|

| 4.5 | Studio 1+1 and Kino      Group Warranties. |
|-----|--------------------------------------------|

| 4.6 | Independent      Warranties. |
|-----|------------------------------|

| 4.7 | Knowledge. |
|-----|------------|

|   | (a) | Where      any Warranty is qualified by the expression "so far as Alstrom is aware"      or "to the knowledge of Alstrom" or any similar expression, that statement      or reference shall mean so far as is within the actual knowledge of any of      the general directors, finance directors and chief legal officers of each      TET Group Entity, in each case having made all reasonable      enquiries. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Where      any Warranty is qualified by the expression "so far as CME Ltd. or the      Company is aware" or "to the knowledge of CME Ltd. or the Company" or any      similar expression, that statement or reference shall mean so far as is      within the actual knowledge of any of Adrian Sarbu, Oliver Meisler, Mr.      Tkachenko and the general directors, finance directors and chief legal      officers of any Studio 1+1 and Kino Group Entity, in each case having made      all reasonable enquiries.  For the avoidance of doubt, any      knowledge of CME Ltd. or the Company with respect to omitted spousal      consents or waivers or with respect to omitted shareholder consents for      share capital reductions shall in no way limit or otherwise affect the      Warranties provided by Alstromhereunder. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | Neither      CME Ltd. nor the Company shall be liable in respect of any claim for      breach of Warranty where or to the extent that Kolomoisky had knowledge      (actual, constructive or imputed) of the facts, matters or circumstances      giving rise to such Warranty claim. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | CERTAIN      COVENANTS |
|----|------------------------|

| 5.1 | Pre-Closing      Conduct. |
|-----|---------------------------|

|   | (a) | From      the date of this Agreement (or, if different, from the date the relevant      Warranty is given hereunder) until Closing, the Alstrom Owners and Alstrom      agree to: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | except      to the extent necessary to implement the TET Restructuring, comply with      and ensure that each TET Group Entity complies with Part A of Schedule 3      and ensure that no action is taken by Alstrom or any TET Group Entity the      effect of which would, to the knowledge of Alstrom or the TET Group, cause      a TET Group Warranty, Alstrom Warranty or Alstrom Owner Warranty to be      untrue, inaccurate or misleading in any material respect if given in      respect of the facts or circumstances as at  Closing; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | notify      and ensure that each TET Group Entity notifies CME Ltd. promptly if it      becomes aware of a fact or circumstance which constitutes or which would      or would reasonably be expected to constitute a breach of any TET Group      Warranty, Alstrom Warranty or Alstrom Owner Warranty or Clause 5.1(a)(i),      or which would or might reasonably be expected to cause a TET Group      Warranty, Alstrom Warranty or Alstrom Owner Warranty to be untrue,      inaccurate or misleading in any material respect in relation to the facts      or circumstances as at Closing; and |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | without      limitation to the generality of Clause 3.1(b) and any remedies available      to CME Ltd. or the Company as a result of violation of any Warranty, take      any and all action necessary in order to cure violation of any TET Group      Warranty, Alstrom Warranty or Alstrom Owner Warranty so as to ensure that      by the Closing Date all TET Group Warranties are true and correct in all      material respects. Alstrom shall take all actions reasonably necessary in      order to rectify any material problems and violations that may have a      detrimental effect on the TET Restructuring, the TET Group Entities, the      Reissued Licenses for TET and the Subsidiaries of TET or any other      licenses and permits issued to TET Group  Entities. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Prior      to Closing, Alstrom shall use their reasonable efforts (but shall not be      obligated) to acquire all outstanding equity interests in the TET Group      not currently owned by the TET Group.  For the avoidance of      doubt, the approval of the Company and CME Ltd. shall be required for any      such acquisition.  Furthermore, prior to Closing, Alstrom shall      not (and shall ensure that none of its Affiliates shall) (i) dispose of      any ownership interest, direct or indirect, in the TET Group, except as      contemplated pursuant to the TET Restructuring or (ii) engage in      any transaction with a TET Group Entity, other than any transaction      exclusively among TET Group Entities, without the prior written consent of      CME Ltd. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | Prior      to Closing, Alstrom shall: |
|--------|-----|---------------------------------------|

|   | (i) | use      their best efforts to procure, in respect of each Minter Contract that      (x) such      Minter Contract is promptly assigned to Holding Company pursuant to an      assignment agreement in customary form, in each case on the same terms as      such existing Minter Contract (the "Minter Assignments") or      (y) in      place of such Minter Contract, a new agreement is entered into between      Holding Company and the relevant third party, on the same material terms      as such existing Minter Contract; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | use      their best efforts to procure that all third party consents required in      respect of the Minter Assignments are promptly  obtained; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | procure      that each agreement between Minter and a TET Group Entity in respect of      third party programming and any payable owing to Minter from any TET Group      Entity in connection with any Minter Assignment effected or any Minter      Contract for which a new agreement has been entered into pursuant to      Clause 5.1(c)(i) prior to Closing shall be either (x) assigned to      Holding Company or (y) waived or      terminated without liability to any TET Group Entity;  and |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | in      respect of any Minter Contracts which will not be effectively assigned to      Holding Company or substituted prior to the Closing Date (as contemplated      by Clause 5.1(c)(i), procure that Minter and Holding Company enter into      sublicense agreements, in each case on terms and in a form satisfactory to      CME Ltd. (acting reasonably). |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Prior      to Closing, Alstrom shall open a bank account at the same branch of ING      Bank where the Company has an account (or at such other bank as may be      agreed between Alstrom and CME Ltd. in writing) for the purpose of      transferring the Alstrom Cash Contribution at Closing. CME Ltd. shall use      reasonable efforts to provide assistance to Alstrom in opening such      account. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | From      the date of this Agreement (or, if different, from the date the relevant      Warranty is given hereunder) until Closing, the Company, Ukraine Holding      and CME Ltd. agree to: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | except      to the extent necessary to implement the CME Restructuring, comply with      and ensure that each Studio 1+1 and Kino Group Entity and the Company      complies with Part B of Schedule 3 and ensure that no action is taken by      the Company, CME Ltd., Ukraine Holding or any of the Studio 1+1 and Kino      Group Entities the effect of which would, to the knowledge of the Company      or CME Ltd., cause a Studio 1+1 or Kino Group Warranty, CME Warranty,      Ukraine Holding Warranty or Company Warranty to be untrue, inaccurate or      misleading in any material respect if given in respect of the facts or      circumstances at Closing; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | notify      and ensure that each Studio 1+1 and Kino Group company notifies Alstrom      promptly if it becomes aware of a fact or circumstance which constitutes      or which would or would reasonably be expected to cause any Studio 1+1 and      Kino Group Warranty, CME Warranty, Ukraine Holding Warranty or Company      Warranty to be untrue, inaccurate or misleading in any material respect if      given in respect of the facts or circumstances at Closing or a breach of      Clause 5.1(e)(i); and |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (iii) | without      limitation to the generality of Clause 3.1(c) and any remedies available      to Alstrom or the Alstrom Owners as a result of violation of any Warranty,      take any and all action necessary in order to cure violation of any Studio      1+1 and Kino Group Warranty, CME Warranty, Ukraine Holding Warranty or      Company Warranty so as to ensure that by the Closing Date all Studio 1+1      and Kino Group Warranties are true and correct in all material respects.      Each of the Company or CME Ltd. shall take all actions reasonably      necessary in order to rectify any material problems and violations that      may have a detrimental effect on the CME Restructuring, the Studio 1+1 and      Kino Group Entities, the Reissued Licenses for Gravis, TOR or ZHYSA or any      other licenses and permits issued to the Studio 1+1 and Kino Group      companies. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | If,      in the period prior to Closing, any Party (acting reasonably) considers      that there may have been a breach of any Warranty (an "Inquiring Party") by any      other Party (the "Responding Party"), the      Inquiring Party may by written notice given to the Responding Party prior      to Closing require the Responding Party to provide to such Inquiring      Party, and/or procure the provision to such Inquiring Party of all      information as such Inquiring Party may reasonably require in order to      ascertain whether such a breach has occurred. The Responding Party shall      as soon as reasonably practicable provide or procure the provision of all      such information. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2 | Satisfaction of      Conditions. |
|-----|----------------------------------|

| 5.3 | Access to Information;      Finalization of Due Diligence and Disclosure    Letters. |
|-----|--------------------------------------------------------------------------------------|

|   | (a) | Alstrom      shall (i)      give, and shall cause the TET Group Entities to give, CME Ltd., its      counsel, financial advisors, auditors and other authorized representatives      full access to the properties, books and records of any TET Group Entity      and to the books and records of Alstrom relating to any TET Group Entity,      (ii)      furnish, and shall cause the TET Group Entities to furnish, to CME Ltd.,      its counsel, financial advisors, auditors and other authorized      representatives such financial data and other information relating to any      TET Group Entity as such Persons may reasonably request and (iii) instruct      the employees, counsel and financial advisors of Alstrom or the TET Group      Entities to cooperate with CME Ltd. in its investigation of the TET Group      Entities, provided that the foregoing (x) shall be      conducted in such manner as not to interfere unreasonably with the conduct      of the business of Alstrom or the TET Group Entities and (y) shall not      operate as a waiver or otherwise affect any representation, warranty or      agreement given or made by Alstrom in this  Agreement. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Alstrom      shall provide a full and complete draft of the Alstrom Disclosure Letter      and the Financial Statements and Management Accounts (in the case of the      Financial Statements and Management Accounts, only to the extent not      previously provided) to CME Ltd. and the Company no later than 3 August      2009.  Provided that CME Ltd. and the Company are provided such      full and timely access and that Alstrom provides such draft in a timely      manner, CME Ltd. and the Company shall use all reasonable efforts to      finalize its own due diligence of the TET Group Entities no later than 3      August 2009.  The Parties acknowledge that CME Ltd. and the      Company shall be entitled to accept or reject the draft Alstrom Disclosure      Letter and that the draft Alstrom Disclosure Letter may raise issues that      CME Ltd. or the Company believes should be addressed by way of amendment      of this Agreement or the other Transaction Documents.  On the      date that CME Ltd., the Company and Alstrom agree the Alstrom Disclosure      Letter (such date, the "Due Diligence Completion      Date"), such Parties shall execute the Alstrom Disclosure Letter      and confirm satisfaction of the condition set forth in Clause 3.1(b)(v)      (other than in respect of those matters not then due to have been      completed and subject at all times to Clause 5.3(c) below).  For      the avoidance of doubt but without limiting any rights in respect of prior      breach or Warranty or covenant, the Parties shall not be required to      consummate the transactions to be consummated at Closing unless such draft      disclosure letter is agreed. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | Notwithstanding      any previously agreed Alstrom Disclosure Letter, Alstrom may, at any time      prior to the date that is five (5) Business Days prior to the anticipated      Closing, propose to CME Ltd. and the Company a supplemental disclosure      letter for the purpose of disclosing those matters that (i) have      occurred since the date of this Agreement (or Due Diligence Completion      Date, as applicable), (ii) were not      known by Alstrom as of such date and (iii) would,      without such disclosure, result in the failure of the condition set forth      in Clause 3.1(b)(i) being fulfilled.  In such event, the Parties      shall repeat the procedures described in Clause 5.3(b) as if the initial      Alstrom Disclosure Letter had not been agreed.  For the      avoidance of doubt but without limiting any rights in respect of prior      breach or Warranty or covenant, the Parties shall not be required to      consummate the transactions to be consummated at Closing unless such draft      supplemental disclosure letter isagreed. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | CME      Ltd. and the Company may, at any time prior to the date that is five (5)      Business Days prior to the anticipated Closing, deliver to Alstrom a draft      disclosure letter for the purpose of disclosing those matters that (i) have      occurred since the date of this Agreement (or Due Diligence Completion      Date, as applicable), (ii) were not      known by CME Ltd. or the Company as of such date and (iii) would, without      such disclosure, result in the failure of the condition set forth in      Clause 3.1(c)(i) being fulfilled.  The Parties acknowledge that      Alstrom shall be entitled to accept or reject the draft CME Disclosure      Letter and that the draft CME Disclosure Letter may raise issues that      Alstrom believes should be addressed by way of amendment of this Agreement      or the other Transaction Documents.  For the avoidance of doubt      but without limiting any rights in respect of prior breach or Warranty or      covenant, if a draft CME Disclosure Letter is proposed, the Parties shall      not be required to consummate the transactions to be consummated at      Closing unless such draft CME Disclosure Letter is  agreed. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | Each      of the Parties shall use all reasonable efforts to procure      that: |
|--------|-----|---------------------------------------------------------------------------------|

|   | (i) | the      net assets value of each of TET, TET-Production, Alex TV, S-TET,      TET-Poltava and TET-Kherson as soon as possible, or in any case not later      than as a result of the 2009 financial year, is above the aggregate amount      of registered capitals each of TET, TET-Production, Alex TV, S-TET,      TET-Poltava and TET-Kherson respectively within deadlines reasonably      satisfactory to CME Ltd.; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | each      Ukrainian TET Group Entity and its respective shareholders shall execute      amendments to the effective wording of its Constitutional Documents to      bring it into full conformity with Ukrainian Law, and such amendments to      the Constitutional Documents of each TET Group Entity shall be registered      by the competent Governmental Authority under applicable Laws;      and |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      TET Group shall obtain permits to host radio-electronic devices used by      TET for TET signal transmission ("RED Permits") in respect      of all radio-electronic devices hosted by TET Group without such RED      Permits within a deadline reasonably satisfactory to CME    Ltd. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | As      soon as practicable following the Closing Date, the Parties shall procure      that extraordinary general meetings (or the equivalent) of the Company and      each relevant Subsidiary shall be duly convened and held at which the      Persons nominated by CME Ltd. and Alstrom in accordance with this      Agreement and/or as contemplated in the Shareholders' Agreement (insofar      as they have not been appointed) shall be appointed as members of the      Company Board (as defined in the Shareholders' Agreement) and each Opco      Supervisory Board (as defined in the Shareholders' Agreement) in      accordance with the Shareholders' Agreement and the Constitutional      Documents of each suchSubsidiary. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | Following      the Closing Date, Alstrom shall: |
|--------|-----|-------------------------------------------------|

|   | (i) | use      best efforts to procure that (x) any Minter      Assignments not effected prior to the Closing Date are effected as soon as      practicable after the Closing Date; and (y) all third      party consents required in respect of any Minter Assignments not obtained      prior to the Closing Date are promptly obtained, and pending the      effectiveness of such Minter Assignments, shall procure that any benefit      accruing to Minter under a Minter Contract shall be held in trust by      Minter for the benefit of Holding Company;and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | procure      that the Company and CME Ltd. are provided reasonable access to any      Material Contracts (including, for the avoidance of doubt, any programming      agreements and any other contracts assigned by Minter pursuant to Clause      3.1(b)(vi)) and such other books, documents, records and other information      then held or controlled by any Alstrom Party or Minter necessary for the      operation of the TET GroupEntities. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | TERMINATION |
|----|-------------|

| 6.1 | Termination. |
|-----|--------------|

|   | (a) | at      any time by mutual written consent of all of the Parties;    or |
|--------|-----|-------------------------------------------------------------------------|

|   | (b) | by      any of the Parties pursuant to  Clause 3.3(b). |
|--------|-----|-------------------------------------------------------------|

| 6.2 | Survival. |
|-----|-----------|

| 7. | INDEMNITIES      AND LIABILITIES |
|----|----------------------------------|

| 7.1 | CME Ltd. and      Company Indemnity. |
|-----|-------------------------------------------|

----

|   | (a) | A      claim (which shall include any claim in respect of a breach of any      Warranty) hereunder (an "Indemnity Claim") shall      be asserted by written notice from the Party asserting such Indemnity      Claim (the "Indemnified      Party") to the Party from whom indemnification is sought (the      "Indemnifying      Party").  Such notice shall include information regarding      the nature and basis for the Indemnity Claim and an estimate of the amount      of Losses demanded (including, to the extent practicable, a calculation of      the alleged Losses). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      the Indemnity Claim relates to any claim by a third party (a "Third Party Claim"), the      Indemnified Party shall state in the notice to the Indemnifying Party the      nature and basis of the Third Party Claim and the amount thereof, to the      extent known or estimable.  The Indemnifying Party shall be      entitled at its own expense to assume the defense of the Third Party      Claim, using legal advisers reasonably approved by the Indemnified      Party.  The Indemnified Party shall provide the Indemnifying      Party and its advisers with such information and assistance as the      Indemnifying Party shall reasonably request at the cost of the      Indemnifying Party.  If the Indemnifying Party does not promptly      assume the defense of such Third Party Claim following notice thereof, the      Indemnified Party shall be entitled to assume and control such      defense.  The Indemnifying Party shall not, without the prior      written consent of the Indemnified Party (which shall not be unreasonably      withheld), consent to a settlement, compromise or discharge of, or the      entry of any judgment arising from, any Third Party Claim, unless such      settlement, compromise or discharge does not involve any finding or      admission of any violation of Law or admission of any wrongdoing by the      Indemnified Party and the Indemnifying Party shall (i) pay or cause      to be paid all amounts arising out of such settlement or judgment      concurrently with the effectiveness of such settlement, (ii) not      encumber any of the assets of any Indemnified Party or agree to any      restriction or condition that would apply to or adversely affect any      Indemnified Party and (iii) obtain, as      a condition of any settlement or other resolution, a complete and      unconditional release of each Indemnified Party from any and all liability      in respect of such Third PartyClaim. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      obligation of an Indemnifying Party shall not extend to any liability      arising from the settlement or compromise of any action or claims brought      against the Indemnified Party, or the admission by the Indemnified Party      of any claim or the taking by the Indemnified Party of any action (unless      required by Law or applicable process), which might reasonably be expected      to prejudice the successful defense of the action or claim without, in any      such case, the prior written consent of the Indemnifying      Party. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 7.4 | Obligation to      Mitigate. |
|-----|------------------------------|

| 7.5 | Time      Limits. |
|-----|-------------------|

|   | (a) | The      TET Group Warranties (other than the Fundamental TET Group Warranties and      the TET Group Tax Warranties) and the Studio 1+1 and Kino Group Warranties      (other than the Fundamental Studio 1+1 and Kino Group Warranties) shall      survive the Closing until the third anniversary of the Closing      Date.  The TET Group Tax Warranties and Fundamental TET Group      Warranties shall survive until 60 days following the expiration of the      relevant statute of limitations. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Any      Indemnity Claim notified under this Clause 7 is principal and continuing      and accordingly shall remain in full force and effect regardless of the      legality, validity or enforceability of any other provisions of this      Agreement and notwithstanding the winding-up, liquidation or dissolution      of any of Alstrom or any of its Affiliates holding Shares or other      incapacity or limitation of Alstrom or any of its Affiliates holding      Shares or any change in the status, control or ownership      thereof. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.6 | Financial      Limits. |
|-----|------------------------|

|   | (a) | Except      in the case of fraud, the maximum aggregate liability of the CME Parties,      on the one hand, and the Alstrom Parties, on the other hand, for any and      all Indemnity Claims or other claims arising in respect of this Agreement      and made prior to Closing shall not exceed US$500,000.  For the      avoidance of doubt, this limitation shall be inapplicable for all such      claims if the Closing occurs. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      Party shall be liable in respect of an Indemnity Claim made after Closing      in respect of a Warranty only if the amount payable (but for this Clause      7.6(b)) in respect of such IndemnityClaim: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | exceeds      US$500,000; and |
|--------|-----|------------------------------|

|   | (ii) | when      taken with every other Indemnity Claim for which the liability of the      relevant Party or its Affiliates individually exceeds the relevant      threshold for such Indemnity Claim in Clause 7.6(b)(i) and 7.6(c)(i), and      all Indemnity Claims also exceed in aggregate US$4,000,000, in which case      the Party shall be liable for the whole amount of all such Indemnity      Claims and not only for the excess, |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | A      Party shall be liable in respect of an Indemnity Claim made after Closing      in respect of any TET Group Tax Warranty or any Fundamental Warranty only      if the amount payable (but for this Clause 7.6(c)) in respect of such      Indemnity Claim: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | exceeds      US$100,000; and |
|--------|-----|------------------------------|

----

|   | (ii) | when      taken with every other Indemnity Claim in respect of any TET Group Tax      Warranty or any Fundamental Warranty for which the liability of the      relevant Party or its Affiliates individually exceeds US$100,000, also      exceeds in aggregate US$2,000,000, in which case the Party shall be liable      for the whole amount of all such Indemnity Claims and not only for the      excess, |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Notwithstanding      the preceding provisions in this Clause 7.6, Alstrom shall be liable in      respect of any Indemnity Claim made after Closing in respect of the      Warranty set out in Clause 4.2 of Part C of Schedule 2 only if the amount      payable (but for this Clause 7.6(d)) in respect of such Indemnity Claim      exceeds US$1,000,000, provided that      any amount payable in respect of any Indemnity Claim made pursuant to this      Clause 7.6(d) shall be included in the aggregate total for the purposes of      Clause 7.6(b)(ii). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | For      the purpose of Clauses 7.6(b) and 7.6(c) above two or more Indemnity      Claims arising from the same set of facts, matters or circumstances or a      series of related facts, matters or circumstances shall be treated as a      single Indemnity Claim. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | Except      for Indemnity Claims in respect of TET Tax Group Warranties and      Fundamental Warranties and except in the case of fraud, the maximum      aggregate liability of any Party for any and all Indemnity Claims shall      not exceed US$50,000,000. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | The      maximum aggregate liability of any Party for any and all Indemnity Claims      arising out of or in connection with any breach of Warranty shall not      exceed US$100,000,000, except in the case of fraud, in which case no      limits shall apply. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | For      purposes of the calculation of Losses pursuant to this Clause 7, any      materiality or similar qualification (including any monetary threshold)      referred to in the relevant Warranty which is the subject of an Indemnity      Claim shall be ignored. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | CONTROL      RETENTION; NO INTERFERENCE; CERTAINCOSTS |
|----|-------------------------------------------------------|

----

| 9. | CONFIDENTIALITY |
|----|-----------------|

|   | (a) | in      response to an order of a court of competent jurisdiction, or in response      to an appropriate subpoena or discovery request issued in the course of      Litigation; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | in      response to (i) an inquiry      to which by Law a response must be given or, on advice of counsel, to      which a response is advisable or (ii) any order      issued by a Governmental Authority or supra-governmental agency of      competent jurisdiction; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | to      the extent necessary to report income to appropriate taxing authorities      and/or to contest the imposition of any Tax by appropriate taxing      authorities; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | to      such Party's respective accountants and legal advisers and to any broker      or insurer or relevant reinsurer or retrocessionaire in all cases (other      than disclosure to legal advisers) as may be required by contract and/or      by Law; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | in      connection with any Litigation or arbitration proceedings between the      Parties relating to this Agreement or any other Transaction Document;      and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | to      the extent required or (on advice of counsel) appropriate in order to      comply with applicable Law or stock exchange  rules. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

| 10. | ASSIGNMENT |
|-----|------------|

| 11. | MISCELLANEOUS |
|-----|---------------|

----

----

----

| 11.9 | Counterparts. |
|------|---------------|

----

| 12. | GOVERNING      LAW AND ARBITRATION |
|-----|------------------------------------|

| 12.1 | Governing      Law. |
|------|---------------------|

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

|   | (a) | General.  Any      dispute, controversy or claim arising out of or relating to this      Agreement, including any question regarding its existence, validity,      interpretation, performance or termination, shall be finally resolved by      arbitration in accordance with the then existing Rules of Arbitration of      the London Court of International Arbitration (the "LCIA Rules"), which are      deemed to be incorporated by reference into this Clause 12.2, except      to the extent modified by this Clause 12.2.  The tribunal      shall consist of three arbitrators.  Subject to the provisions      of Clause 12.2(c) the parties to any such arbitration shall each be      entitled to nominate one arbitrator and the third arbitrator shall be      appointed by the two party-nominated arbitrators.  In a      multi-dispute the tribunal shall be appointed by the LCIA Court, unless      the parties to such arbitration agree in writing that, for the purpose of      Article 8.1 of the LCIA Rules, the disputant parties represent two      separate sides for the formation of the tribunal as claimant and      respondent respectively. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Seat and      Language.  The seat of the arbitration shall be London,      England.  The language of the arbitration shall be English      except that any party to the arbitration may submit testimony or      documentary evidence in Ukrainian or Russian and shall furnish a      translation or interpretation of any such evidence into      English. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Related      Disputes.  If any dispute arising out of or relating to      this Agreement (hereinafter referred to as a "Related Dispute") raises      issues which are substantially the same as or connected with issues raised      in another dispute which has already been referred to arbitration under      this Agreement, the Shareholders' Agreement, the Cyprus Contribution      Agreement or any other Transaction Document (an "Existing Dispute"), the      tribunal appointed or to be appointed in respect of any such Existing      Disputes shall also be appointed as the tribunal in respect of any such      Related Dispute.  Where, pursuant to the foregoing provisions,      the same tribunal has been appointed in relation to two or more disputes,      the tribunal may, with the agreement of all the parties concerned or upon      the application of one of the parties, being a party to each of the      disputes, order that the whole or part of the matters at issue shall be      heard together upon such terms or conditions as the tribunal thinks      fit.  The tribunal shall have power to make such directions and      any interim or partial award as it considers just and      desirable. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | CENTRAL      EUROPEAN MEDIA ENTERPRISES LTD. |
|--------|----------------------------------------------|
|   |                                         |   |
|   | By:                                          | /s/ Adrian Sarbu |
|   |                                         | Name:      Adrian Sarbu |
|   |                                         | Title:      President and COO |
|   |                                         |   |
|   |                                         |   |
|   | ALSTROM      BUSINESS CORP                   |
|   |                                         |   |
|   | By:                                          | /s/ MichalakisTsitsekkos |
|   |                                         | Name:  Michalakis      Tsitsekkos |
|   |                                         | Title:      Director |
|   |                                         |   |
|   |                                         |   |
|   | MICHALAKIS      TSITSEKKOS                   |
|   |                                         |   |
|   | /s/ MichalakisTsitsekkos                     |
|   |                                         |   |
|   |                                         |   |
|   | IGOR      VALERYEVICH KOLOMOISKY             |
|   |                                         |   |
|   | /s/ Igor Kolomoisky                          |
|   |                                         |   |
|   |                                         |   |
|   | IHOR      MYKHAILOVICH SURKIS                |
|   |                                         |
|   | /s/      Ihor Mykhailovich Surkis            |

----

|   | CME      UKRAINE HOLDING B.V.   |
|--------|---------------------------------|
|   |                            |   |
|   | By:                             | /s/ Alphons van  Spaendonck |
|   |                            | Name:      A.N.G.V. Spaendonck |
|   |                            | Title:      Managing Director |
|   |                            |   |
|   |                            |   |
|   | By:                             |  /s/ Henk van      Wijlen |
|   |                            | Name:      H v. Wijlen for Pan-Invest B.V. |
|   |                            | Title:      Managing Director |
|   |                            |   |
|   |                            |   |
|   | CME      CYPRUS HOLDING LIMITED |
|   |                            |   |
|   | By:                             | /s/ David Sturgeon |
|   |                            | Name:      David Sturgeon |
|   |                            | Title:      Managing Director |

----