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7, 2009

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| CONTENTS              |
|-----------------------|
|                  |   |   |   |   |
| CLAUSE                |   | PAGE |
|                  |   |   |   |   |
| 1.                    |   | INTERPRETATION |   | 1 |
| 2.                    |   | APPOINTMENT      AND ACCEPTANCE |   | 2 |
| 3.                    |   | STANDARD      OF CARE |   | 2 |
| 4.                    |   | TERMINATION |   | 4 |
| 5.                    |   | REPRESENTATIONS      AND WARRANTIES |   | 4 |
| 6.                    |   | INDEMNIFICATION |   | 5 |
| 7.                    |   | FEES |   | 5 |
| 8.                    |   | AMENDMENTS      AND ASSIGNMENTS |   | 6 |
| 9.                    |   | PARTIAL      INVALIDITY |   | 6 |
| 10.                   |   | BENEFITS |   | 6 |
| 11.                   |   | FORCE      MAJEURE |   | 7 |
| 12.                   |   | ENTIRE      AGREEMENT |   | 7 |
| 13.                   |   | COUNTERPARTS |   | 7 |
| 14.                   |   | CONTRACTS      (RIGHTS OF THIRD PARTIES) ACT 1999 |   | 7 |
| 15.                   |   | ARBITRATION |   | 7 |
| 16.                   |   | GOVERNING      LAW |   | 8 |
| 17.                   |   | NOTICES |   | 8 |
|                  |   |   |   |   |
| SCHEDULE      1       |   | 11 |
| SERVICES      SCEDULE |   | 11 |
| 1.                    |   | DEFINITIONS |   | 11 |
| 2.                    |   | SERVICES |   | 11 |

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| (1) | CENTRAL EUROPEAN MEDIA      ENTERPRISES LTD. (the “Offeror”) whose      registered office is at Clarendon House, Church Street, Hamilton, HM11,      Bermuda; |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | DEUTSCHE BANK AG, LONDON BRANCH whose      office is at Winchester House, 1 Great Winchester Street, London EC2N 2DB,      in its capacity as principal tender agent (the “Principal Tender      Agent”); and |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | DEUTSCHE BANK LUXEMBOURG      S.A., whose office is at 2 boulevard Konrad Adenauer, L-1115      Luxembourg, in its capacity as Luxembourg tender agent (the “Luxembourg Tender      Agent”). |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (A) | The      Offeror desires to solicit tenders of Securities in a Tender Offer upon      the terms and subject to the conditions set out in an Offer to Purchase      prepared by the Offeror dated September 7, 2009 as the same may be amended      or supplemented from time to time (the “Offering Memorandum”),      copies of which have been supplied to the Tender  Agents. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      Offeror wishes to appoint the Tender Agents to facilitate the Tender      Offer. |
|-----|-------------------------------------------------------------------------------------------|

| (C) | The      Tender Agents are willing to act as Tender Agents, upon the terms, and      subject to the conditions, set outherein. |
|-----|--------------------------------------------------------------------------------------------------------------------------------|

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

| 1.1 | Capitalised      terms used in this Agreement but not defined in this Agreement shall have      the meanings given to them in the Offering  Memorandum. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.2 | Headings      shall be ignored in construing thisAgreement. |
|-----|-------------------------------------------------------------|

| 1.3 | Reference      in this Agreement to this Agreement or any other document are to this      Agreement or those documents as amended, supplemented or replaced from      time to time. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.4 | The      Schedules are part of this Agreement and have effect accordingly and terms      defined there and not in the main body of this Agreement shall have the      meaning given to them there. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 2. | APPOINTMENT AND      ACCEPTANCE |
|----|---------------------------------|

| 2.1 | The      Offeror hereby appoints the Tender Agents to act as tender agents in      connection with the Tender Offer and as such to perform, or cause to be      performed, the services identified to be performed in Schedule 1 hereto      (the “Services      Schedule”). |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.2 | Each      Tender Agent accepts the appointment by the Offeror to act as tender agent      solely upon the terms and conditions of this Agreement and agrees to      perform, or cause to be performed; only the services identified in the      Services Schedule and no additional duties shall be implied or imposed      upon the Tender Agents. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | STANDARD OF      CARE |
|----|-----------------------|

| 3.1 | The      Tender Agents shall not be deemed to make any representations, and shall      have no responsibilities, as to the validity, sufficiency, value or      genuineness of any Securities tendered as part of the Tender      Offer. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2 | The      Tender Agents shall have no obligation to, and shall not, deliver any      payment under the terms of the Tender Offer unless they shall have      received confirmation in writing from the Offeror that all of the      conditions precedent to the Tender Offer as set out in the Offering      Memorandum have been satisfied. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.3 | The      Tender Agents shall not be obliged to initiate or participate in any legal      action, suit or proceeding in connection with the Tender Offer or their      duties hereunder which might in the Tender Agent’s reasonable judgement      involve, or result in, any expense or liability to the Tender Agents, the      payment of which is not, in their sole opinion, assured to      them. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.4 | The      Tender Agents may rely on, and shall be fully authorised and protected in      acting or not acting in good faith in reliance upon, any certificate,      instrument, instruction, option, notice, letter, telegram, telex, fax      transmission, electronic message (including, without limitation, a message      received through a clearing system) or other document or instrument      delivered to it and reasonably believed by it to be genuine and to have      been signed by the proper party or parties. The Tender Agent may rely on      and shall be fully authorised and protected in acting or not acting in      good faith upon the written and electronic instructions of the Offeror      and/or the Dealer Manager with respect to any matter covered in this      Agreement, or supplementing or qualifying the Tender Agents’      actions. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.5 | The      Tender Agents shall not be called upon, at any time to and shall not,      advise any person acting under the Tender Offer as to the wisdom of acting      thereunder or as to the market value of any Securities tendered      thereunder. The Tender Agents shall not be liable or responsible for any      recital or statement contained in the Offering Memorandum or any other      documents relating thereto. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.6 | To      the extent not within its reasonable control, the Tender Agents shall not      be liable or responsible for any delay, failure, malfunction, interruption      or error in the transmission or receipt of communications or messages      through electronic means (including, without limitation, the message      systems of the clearing systems), or further actions of any other person      in connection with such message or  communication. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 3.7 | The      Tender Agents shall not be liable or responsible for any failure by any      other party to comply with any of its obligations relating to the Tender      Offer, including, without limitation, obligations under applicable      securities laws. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.8 | The      Tender Agents shall not, and shall not have any obligation to, pay any      commissions or soliciting fees to any person, or to reimburse any brokers,      dealers or custodian banks in connection with the Tender      Offer. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.9 | In      acting hereunder and in connection with the Tender Offer, the Tender      Agents shall act solely as agents of the Offeror and will not thereby      assume any obligations towards or relationship of agency or trust for or      with any of the owners or holders of Securities or the Dealer      Manager. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.10 | No      Tender Agent shall exercise any right of set-off or lien against the      Offeror or any holders of Securities in respect of any moneys payable by      it (on behalf of the Offeror) under the terms of this Agreement and the      Tender Offer. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.11 | The      Tender Agents may consult with legal and other professional advisors and      the opinion of such advisors shall be full and complete protection in      respect of any action taken, omitted or suffered hereunder in good faith      and in accordance with the opinion of such  advisors. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.12 | Except      as provided herein, each Tender Agent and its respective officers,      directors and employees, may become the owner of, or acquire any interest      in, the Securities with the same rights that it would have if the Tender      Agent concerned were not appointed hereunder, and may engage or be      interested in any financial or other transaction with the Offeror, and may      act on, or as depository, trustee or agent for any body of holders of      Securities or other obligations of the Offeror, as freely as if such      Tender Agent were not appointedhereunder. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | TERMINATION |
|----|-------------|

| 4.1 | This      Agreement shall terminate upon the earlier to occur  of: |
|-----|--------------------------------------------------------------------|

|   | (a) | termination      of the Agreement by mutual agreement of the Tender Agents and the      Offeror; |
|--------|-----|--------------------------------------------------------------------------------------------------|

|   | (b) | termination      of the Tender Offer for any reasonwhatsoever; |
|--------|-----|----------------------------------------------------------------|

|   | (c) | the      completion of the Tender Offer upon notice from the    Offeror; |
|--------|-----|--------------------------------------------------------------------------|

|   | (d) | the      breach of the representations and warranties in clause 5 (Representations and      Warranties) by the Offeror;or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------|

|   | (e) | a      material breach by any party to this Agreement of its obligations under      this Agreement. |
|--------|-----|-----------------------------------------------------------------------------------------------------|

| 4.2 | Upon      termination of this Agreement, each Tender Agent shall promptly deliver to      or to the order of the Offeror any securities, certificates, funds and      other property held under the terms hereof. Upon termination of this      Agreement and payment to the Tender Agents of all amounts payable to them      under the terms hereof, copies of all information maintained by each      Tender Agent for the Offeror under this Agreement shall be delivered to      the Offeror upon request. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 5. | REPRESENTATIONS AND      WARRANTIES |
|----|-------------------------------------|

|   | (a) | the      consummation of the Tender Offer and the performance of all transactions      contemplated thereby will, on or before the Settlement Date, be duly      authorised by all necessary action by the  Offeror; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | this      Agreement has been duly executed and delivered on its behalf and      constitutes a legal, valid, binding and enforceable obligation of the      Offeror, subject to all applicable laws affecting the rights of creditors;      and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | in      making the Tender Offer, the Offeror does, and will continue to comply, in      all material respects with all with the Offer and Distribution      Restrictions as set out in the Offering  Memorandum. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | REPRESENTATIONS AND      WARRANTIES |
|----|-------------------------------------|

|   | (a) | the      consummation of the Tender Offer and the performance of all transactions      contemplated thereby will, on or before the Settlement Date, be duly      authorised by all necessary action by the Tender  Agent; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | this      Agreement has been duly executed and delivered on its behalf and      constitutes a legal, valid, binding and enforceable obligation of the      Tender Agent, subject to all applicable laws affecting the rights of      creditors; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | in      its role as Tender Agent for the Tender Offer, the Tender Agent does, and      will continue to comply, in all material respects with all with the Offer      and Distribution Restrictions as set out in the Offering      Memorandum. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | INDEMNIFICATION |
|----|-----------------|

| 7.1 | The      Offeror shall indemnify each Tender Agent for an amount equal to any loss,      liability, cost, tax (including stamp duty but excluding any tax claim      based on income or profits and excluding any franchise or similar taxes)      claim, action, demand or expense (including but not limited to, all      properly incurred costs, charges and expenses paid or incurred in      disputing or defending any of the foregoing) that the Tender Agent or any      of its directors, officers, employees, agents and controlling persons may      incur arising out of or in relation to or in connection with its      appointment or the exercise of its functions, except such as may result      from a breach by it of this Agreement or its own gross negligence, bad      faith or wilful default or that of its directors, officers, employees,      agents or controlling persons. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 7.2 | Each      Tender Agent shall severally indemnify the Offeror for an amount equal to      any loss, liability, cost, tax (including stamp duty) claim, action,      demand or expense (including, but not limited to, all properly incurred      costs, charges and expenses paid or incurred in disputing or defending any      of the foregoing) that the Offeror or any of its directors, officers,      employees, agents and controlling persons may incur as a result of the      breach by such Tender Agent of this Agreement or such Tender Agent’s gross      negligence, bad faith or wilful default or that of its directors,      officers, employees, agents or controlling  persons. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.3 | Subject      to the final sentence of this clause, under no circumstances will the      Tender Agents be liable to the Offeror in contract, tort (including      negligence) or otherwise for any consequential, special, indirect or      speculative loss or damage (including but not limited to loss of business,      goodwill, opportunity or profit) which arises out of or in connection with      this Agreement even if advised of the possibility of such loss or damage.      Nothing in this Agreement limits or excludes a party’s liability: (i) for      fraud or wilful default; or (ii) for death or personal injury caused by      its gross negligence. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.4 | The      indemnities set out in this clause 6 shall survive the termination or      expiry of this Agreement. |
|-----|---------------------------------------------------------------------------------------------------------------|

| 8. | FEES |
|----|------|

| 8.1 | The      Offeror shall pay, or otherwise procure payment, to the Principal Tender      Agent and the Luxembourg Tender Agent a fee as detailed in the separate      written correspondence between the Principal Tender Agent and the Offeror      dated September 7, 2009 in respect of both Tender Agents’ services to be      invoiced upon completion or termination of the Tender Offer as detailed in      clause 4.1. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.2 | The      Offeror shall also pay promptly following receipt of an invoice all      properly incurred out-of-pocket expenses (including legal, advertising,      telex, fax, insurance costs and postage expenses) incurred by the Tender      Agents in connection with their services together with any applicable      value added tax, sales, stamp, issue, registration, documentary or other      taxes or duties; provided that the Offeror shall not be obligated to pay      for any legal fees or expenses incurred by the Tender Agents without the      Offeror’s prior written consent, with such consent not to be unreasonably      withheld or denied. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.3 | All      payments by the Offeror under this clause shall be made free and clear of,      without withholding or deduction for, any taxes, duties, assessments or      governmental charges of whatever nature imposed, levied, collected,      withheld or assessed by any government having power to tax, unless such      withholding or deduction is required by law. In that event, the Offeror      shall advance such additional amounts as will result in receipt by the      relevant Tender Agent of such amounts as would have been received by it if      no such withholding had beenrequired. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | AMENDMENTS AND      ASSIGNMENTS |
|----|---------------------------------|

| 9.1 | The      terms of this Agreement may be waived, amended or supplemented only by      agreement in writing duly executed by the Offeror and the Tender      Agents. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.2 | None      of the rights or obligations of the parties under this Agreement may be      assigned except (i) upon receipt of prior written consent of the other      parties to this Agreement or (ii) as otherwise specifically permitted      under this Agreement. Any assignment or delegation in violation of this      clause 8.2 shall be null and void. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 9.3 | In      the event of an amendment or extension of the Tender Offer by the Offeror,      the Offeror shall promptly provide notice thereof to the Tender Agents.      The Tender Agents agree to use their reasonable efforts to follow the      instructions of the Offeror in respect of the amended Tender Offer to the      extent that the actions that the Tender Agents are instructed to take in      relation to such amendment are consistent with the terms hereof      (including, without limitation, the terms of the Services Schedule).      Clause 6 (Indemnification) shall      cover the actions so taken by the Tender Agents at the instruction of the      Offeror. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.4 | The      Offeror may at any time, appoint such additional or successor Tender      Agent(s) as it may deem appropriate, provided, however, that the      obligations of the Offeror to the existing Tender Agents under clause 6      (Indemnification)      shall survive any such appointment, and provided further that the Offeror      shall promptly give written notice of any such appointment to the other      Tender Agents appointed hereunder. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10. | PARTIAL      INVALIDITY |
|-----|-------------------------|

| 11. | BENEFITS |
|-----|----------|

| 12. | FORCE      MAJEURE |
|-----|--------------------|

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| 13. | ENTIRE      AGREEMENT |
|-----|-----------------------|

| 14. | COUNTERPARTS |
|-----|--------------|

| 15. | CONTRACTS (RIGHTS OF THIRD      PARTIES) ACT 1999 |
|-----|---------------------------------------------------|

| 16. | GOVERNING LAW, SUBMISSION TO      JURISDICTION AND      AGENT FOR SERVICE OF PROCESS |
|-----|--------------------------------------------------------------------------------------|

| 16.1 | Governing Law This      Agreement, and any non-contractual obligations arising out of or in      connection with this Agreement, is governed by, and shall be construed in      accordance with, English law. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.2 | Submission to      Jurisdiction  Each of the Parties irrevocably agrees for      the benefit of the other Parties to this Agreement that the courts of      England are to have jurisdiction to settle any disputes which may arise      out of or in connection with this Agreement (including a dispute relating      to any non-contractual obligations arising out of or in connection with      this Agreement) and that accordingly any suit, action or proceedings      arising out of or in connection therewith (together referred to as “Proceedings”) may be      brought in the courts of England.  Each of the parties      irrevocably waives any objection which it may have now or hereafter to the      laying of the venue of any Proceedings in the courts of England and any      claim that any Proceedings have been brought in an inconvenient forum and      irrevocably agrees that a judgment in any Proceedings brought in the      courts of England shall be conclusive and binding upon such Party and may      be enforced in the courts of any other  jurisdiction. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.3 | Agent for Service of      Process |
|------|-----------------------------------|

|   | (a) | Deutsche      Bank Luxembourg S.A. hereby irrevocably appoints Deutsche Bank AG, London      Branch at its registered office for the time being in England;      and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      Offeror appoints CME Development Corporation, at the address set out      clause 17.1(a), |
|--------|-----|----------------------------------------------------------------------------------------------------|

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| 17. | NOTICES |
|-----|---------|

| 17.1 | Any      notice required to be given under this Agreement to any of the parties      shall be made in the English language or shall be accompanied by a      certified English translation, shall be delivered in person, sent by      pre-paid (first class if inland, first class airmail (if overseas)) or by      facsimile or telex addressed to: |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | If      to the Offeror, care of: |
|--------|-----|----------------------------------|

|   | Fax: | +44      (0) 207 127 5801 |
|--------|------|---------------------------|

|   | Attention: | Attention:      Daniel Penn, Esq. |
|--------|------------|-----------------------------------|

|   | E-mail: | Dan.Penn@cme-net.com |
|--------|---------|----------------------|

|   | (b) | If      to the Principal Tender Agent, at: |
|--------|-----|--------------------------------------------|

|   | Fax: | +      44 (0) 207 547 5001 |
|--------|------|----------------------------|

|   | Attention: | Trust      & Securities Services |
|--------|------------|--------------------------------------|

|   | E-mail: | xchange.offer@db.com |
|--------|---------|----------------------|

|   | (c) | If      to the Luxembourg Tender Agent, at: |
|--------|-----|---------------------------------------------|

|   | Fax: | +      352 473136 |
|--------|------|-------------------|

|   | Attention: | Trust      & Securities Services |
|--------|------------|--------------------------------------|

|   | E-mail: | xchange.offer@db.com |
|--------|---------|----------------------|

| 17.2 | Any      such notice shall take effect, if delivered in person, at the time of      delivery, if sent by post, three days in the case of inland post or seven      days in the case of overseas post after despatch, in the case of fax, 24      hours after the time of despatch, provided that in the case of a notice      given by fax transmission such notice shall forthwith be confirmed by      post, and in the case of e-mail, the same day if the receipt of such      e-mail is confirmed before 2:00 p.m., London time, on the date such e-mail      is sent and otherwise on the subsequent business day. The failure of the      addressee to receive such confirmation shall not invalidate the relevant      notice given by fax or e-mail. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| By:    |   | /s/ Stuart Harding  |   | /s/ Fiona Coughlan  |
|--------|--------|---------------------|--------|---------------------|
|   |   | Stuart      Harding |   | Fiona      Coughlan |
|   |   | Vice-President      |   | Vice-President      |

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| By:    |   | /s/ Stuart Harding |   | /s/ Claire Barnes |
|--------|--------|--------------------|--------|-------------------|
|   |   | Attorney           |   | Attorney          |

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SCHEDULE 1

| 1. | DEFINITIONS |
|----|-------------|

| 2. | SERVICES |
|----|----------|

| 2.1 | Cash      Payment |
|-----|-------------------|

| 2.2 | Distribution      of Tender Materials |
|-----|---------------------------------------|

| 2.3 | Tenders |
|-----|---------|

| 2.4 | Guaranteed      Delivery Procedures |
|-----|-------------------------------------|

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| 2.5 | Examination      of Tenders |
|-----|-----------------------------|

| 2.6 | Irregular      Tenders |
|-----|------------------------|

| 2.7 | Reports;      Maintenance and Retention ofRecords |
|-----|---------------------------------------------------|

|   | (a) | Reports |
|--------|-----|---------|

|   | (i) | the      aggregate principal amount of Securities (noting in each case, the      corresponding security identification number(s)) validly tendered since      the delivery of the last such report and the purchase price specified or      deemed specified by the tendering note holders, together with all other      relevant information as set out in the applicable Tender      Instruction; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (ii) | the      numbers of Securities (noting in each case, the corresponding security      identification number(s)) validly tendered, in each case, since the      commencement of the Tender Offer, together with all other relevant      information as set out in the applicable Tender    Instruction; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | information      in reasonable detail relating to defective tenders which have been      received by it, including the status thereof;  and |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | information      in reasonable detail relating to the cash payments to be made on the      Settlement Date. |
|--------|------|-------------------------------------------------------------------------------------------------------------|

|   | (b) | Maintenance      and Retention of Records |
|--------|-----|-------------------------------------------|

| 2.8 | Distribution      of Tender Offer Consideration |
|-----|-------------------------------------------------|

| 2.9 | No      Acceptance of Tenders of OtherSecurities |
|-----|--------------------------------------------------|

| 2.10 | Co-operation |
|------|--------------|

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| 2.11 | Telephone      Inquiries |
|------|--------------------------|

| 2.12 | The      Luxembourg Tender Agent |
|------|----------------------------------|

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