Exhibit
10.59


Surety
Deed


To
AGREEMENT dated July 11, 2007  No
C-25-400/07


Moscow                                                                                              “  11”
July 2007


Closed
Joint Stock Company  “Network of Television Stations” (OGRN 1027700151852), hereinafter referred to as the “Principal”, represented by its General Director
А.Е. Rodnyansky, acting pursuant to the Charter, as the first party,


Closed Joint Stock Company “Video International
Group of Companies”,
hereinafter referred to as the “Surety”,
represented by its General Director Mr. S.A. Vasiliev, acting pursuant to the
Charter, as a second party,


Closed
Joint Stock Company “Kompaniya TSV” (OGRN 5077746859757),
hereinafter referred to as the “Agent”,
represented by the General Director V.L. Vshivkin, acting pursuant to the Charter, as a third party, 


entered into this Deed as follows


1. SUBJECT OF THE DEED


1.1.
Under this Deed, the Surety agrees to be liable to the Principal for improper
performance by the Agent of any financial obligations arising out of Agreement
No C-25-400/07 dated July 11,
2007  (hereinafter referred to as the “Agreement”) with respect
to:


a)
timely transfer to the Principal of the funds received by the Agent from the
advertising clients (sections 4.4. and 
4.7. of the Agreement) within the time periods set forth in the
Agreement or provided by law;


b) payment by the Agent of the
penalty interest at the rate of 0.05 % (Five hundredth of percent) from the
amount of overdue payment for each banking day of delay (section 5.2. of the
Agreement);


c) payment of the proved lost
profits in accordance with section 5.6 of the Agreement;


d)
payment to the Principal of the termination fee (par. 2 section 9.2. of the
Agreement)  within the time period set
forth in the Agreement;


e)
timely payment of the guarantee amount obligation with respect to the amounts overdue
from the advertising clients (section 1 of the Supplementary Agreement No 1) within the time
period set forth in the Supplementary Agreement 1 to the  Agreement.


2. OBLIGATIONS OF THE PARTIES


2.1.
The Surety shall be liable to the Principal jointly with the Agent for improper
performance of the Agent’s obligations under the Agreement listed in section
1.1. hereof to the same extent as the Agent and within the period of time set
forth in the Agreement.


2.2.
The liability of the Surety shall arise upon non-performance and/or improper
performance by the Agent of the Agent’s obligations under the Agreement listed
in section 1.1. hereof.


2.3.
The Agent shall promptly advise the Surety on all and any failures to perform
its obligations arising out of the Agreement as well as on other circumstances,
which affect the performance of the Agent’s obligations to the Principal.


2.4.
In the event of non-performance and/or improper performance by the Agent of the
obligations to the Principal secured by this Surety, the Principal may at its
election either demand that the obligation be performed by the Agent or the
Surety or enforce the collection from the Surety or the Agent in the manner
provided by law.


2.5.
If the Surety has paid the amounts claimed by the Principal under the
obligation secured by the Surety, the Surety shall assume all rights of the
creditor (the Principal) with respect to the amounts of actually paid claims.
In addition to the amount actually paid to the Principal the Surety shall be
entitled to demand from the Agent the compensation for damages, incurred in
settling of its liabilities.


2.6.
The Principal shall be required to deliver to the Surety the documents
evidencing the claims against the Agent and assign the rights underlying such
claims.



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3. SURETY TERM AND TERMINATION


3.1.
The Surety shall be issued for the entire duration of the Agreement.


The
Principal, however, may not present its demand to the Surety to pay any amounts
under section 1.1. hereof after December 31, 2013.


3.2.  The Surety shall terminate:


a)
in respect of the obligations under section 1.1. hereof– if no demand for
payment of the respective amounts is presented to the Surety by the Principal
by December 31, 2013;


b)
if the Principal refused to accept proper performance under the Agreement as
offered by the Agent or the Surety (this provision shall apply only in respect
of the Surety for a specific obligation of the Agent, which the Principal has
refused to accept and shall not terminate the Surety Deed in its entirety);


c)
in the event the Agent has properly performed all of its obligations under the
Agreement secured by the Surety; and


d)
in other cases provided by the law.


4.
PROCEEDINGS ON DISPUTES BETWEEN THE PARTIES


The disputes between the parties in connection with
the performance of the obligations under this Deed shall be referred to the
Moscow Arbitrazh Court.


Executed in three counterparts with one for each
party.


Registered
Addresses and bank Details of the Parties:


Principal


Closed Joint Stock Company “Network of Television
Stations”


Registered Address: 12 3rd Khoroshevskaya
Street, Moscow


Mailing Address: 12 3rd Khoroshevskaya
Street, Moscow.


INN07115217, OГPH
1027700151852


Current
account  40702810100000006624 with OAO
Alfa Bank, correspondent account


30101810200000000593


BIK 044525593


tel. 797- 4100 fax
797 – 4101


Hard Currency
Account Details:


Beneficiary: ZAO Set
Televisionnyx Stanciy


Beneficiary account:
40702840400003003080


Beneficiary bank: ALFA-Bank, Moscow, Russia (107078,
Masha Poryvaeva st., 11)


Surety


Closed Joint Stock Company “Video International Group of Companies”


INN 7721132077 OГPH 1027739120254


Registered
and Mailing Addresses: 25, Akademic Pavlov Street, Moscow, 121359.


INN 7721097496


OGRN 1027739121497


Current
Account  40702810100700551016 with ZAO KB
Citibank,


Correspondent
account 30101810300000000202


BIK 044525202


Tel. 956-1267


Agent


Place of Business: 25
Akademeka Pavlova Street, Moscow 121359


Mailing Address: 25
Akademeka Pavlova Street, Moscow 121359


INN 7731568585


KPP 773101001


OGRN
5077746859757


Current account 4070 2810 3382 6011 0108


with the Kievskoe Branch of the Savings Bank
of Russia No 5278



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Correspondent account 3010 1810 4000 0000 0225


BIK 044525225


Tel.


Fax


Hard Currency
Account Details:


Beneficiary: Beneficiary
account:


Beneficiary bank:


	
  Principal

  	
   

  	
  Signatures:
  

  Surety

  	
   

  	
  Agent

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (А.Е. Rodnyansky) seal here

  	
   

  	
  (S.A.
  Vasiliev) seal here

  	
   

  	
  (V.L. Vshivkin) seal here

  	
   

  



 



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