Central European Media Enterprises Ltd. Reports Results For The Full Year And Fourth Quarter Ended December 31, 2012

FULL YEAR

- Net revenues of US$ 772.1 million -

- OIBDA of US$ 125.4 million -

- Non-cash impairment charge of US$ 522.5 million -

FOURTH QUARTER

- Net revenues of US$ 253.3 million -

- OIBDA of US$ 60.7 million -

HAMILTON, Bermuda, Feb. 27, 2013 (GLOBE NEWSWIRE) -- Central European Media Enterprises Ltd. ("CME" or the "Company") (Nasdaq:CETV) (Prague Stock Exchange:CETV) today announced financial results for the full year and three months ended December 31, 2012.

Net revenues for the year ended December 31, 2012 were US$ 772.1 million compared to US$ 864.8 million in 2011. OIBDA ¹ for the year ended December 31, 2012 was US$ 125.4 million compared to US$ 167.0 million in 2011. For the year ended December 31, 2012, a non-cash impairment charge of US$ 522.5 million was incurred compared to US$ 68.7 million for the year ended December 31, 2011. Operating loss for the year ended December 31, 2012 was US$ 488.2 million compared to operating income of US$ 6.8 million in 2011. Net loss for the year ended December 31, 2012 was US$ 546.4 million compared to US$ 179.6 million in 2011. Fully diluted loss per share for the year ended December 31, 2012 was US$ 6.96 compared to US$ 2.71 for year ended December 31, 2011.

Net revenues for the fourth quarter of 2012 were US$ 253.3 million compared to US$ 276.9 million for the fourth quarter of 2011. OIBDA for the quarter was US$ 60.7 million compared to US$ 81.2 million in 2011. Operating loss for the quarter was US$ 483.1 million compared to US$ 12.1 million in 2011. Net loss for the quarter was US$ 503.1 million compared to US$ 77.2 million in 2011. Fully diluted loss per share for the quarter ended December 31, 2012 was US$ 5.59 compared to US$ 1.12 for the fourth quarter in 2011.

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