OREANDA-NEWS. August 09, 2010. CTC Media, Inc. (“CTC Media” or “the Company”) (NASDAQ: CTCM), Russia’s leading independent media company, announced that Elena Grechina, Senior Vice President at Alfa Bank, has been re-appointed to the CTC Media Board of Directors to replace Lev Khasis, who has resigned from the Board. Ms. Grechina has been designated to serve on the CTC Media Board by Alfa CTC Holdings Limited (“Alfa”), which is an affiliate of Alfa Bank, in accordance with the terms of the stockholders’ agreement between the Company and its two largest stockholders, Alfa and MTG Russia AB. Ms. Grechina previously served as a member of CTC Media’s Board from March 2008 to April 2009, reported the press-centre of CTC Media.

The CTC Media Board currently consists of nine members, of which three are designated by Alfa and three are designated by MTG Russia AB, which is a wholly owned subsidiary of Modern Times Group MTG AB, in accordance with the stockholders’ agreement

Ms. Grechina has worked for Alfa Bank since 1999, where she has held various positions, including responsibility for managing mergers and acquisitions in the corporate finance department and supervising long-term investments. Ms. Grechina currently heads Alfa’s asset management department and serves as a director of A1 investment company. Prior to joining Alfa Bank, Ms. Grechina worked as a securities analyst with Alfa Asset Management (the Moscow-based private equity investment group) from 1998 to 1999.