OREANDA-NEWS. On 12 May 2009 Rambler Media Ltd. (“Rambler” or the “Company”), operating one of Russia’s most popular internet brands, announced that Nikita Serguienko will step down as Chief Financial Officer (“CFO”) and Executive Director of Rambler due to private matters with effect from 21 May 2009, and will pursue other interests.

On behalf of the Company, Ms. Olga Turischeva, Chief Executive Officer of Rambler Media, commented: “I would like to thank Nikita for his support and dedication as CFO of Rambler particularly during the management transition period. We wish him every success in his future endeavours.”

Mr. Serguienko commented “It is with regret that I am having to leave Rambler but I leave the Company in a very stable position and I remain confident in Rambler’s high potential and the successful future of the overall internet market in Russia”.

The Board of Rambler is reviewing candidates to replace Mr. Serguienko and the appointment of a successor will be announced when the selection process has been completed.