Czech RepublicTV Nova

2

Czech Republic

New foreign investments will bring additional ad spending:

Car manufacturers

Mobile operators – Telefonica, Vodafone

Banks – Unicredito, Non-banking institutions – consumer credits

Political environment - new Government not yet confirmed by Parliament

8.08.99.5Unemployment (%)

3.93.83.8TV Households (million)

4.110.84.0FDI (US$ billion)

2.71.92.7Inflation (%)

6.65.56.3Wage Inflation (%)

6.16.14.2Real GDP Change (%)

14,09812,12110,552GDP per Capita (US$)

10.210.210.2Population

2006 Forecast 20052004Key Statistics

Sources: ING, Informa, Global Insight

Country and Economy Update 2006

3

Background

20022

100%201412.6% CR19.2% SR24n/an/an/an/a0.2%

Galaxie Sport

TV Nova

19941

100%2017100%

2431%53%42%43%72%

:LaunchedO :wners hip

:Licence expiryTechnical :reach

: Hours broadcas t daily

Locally produced content:- Prime time locally produced content:

2006: All day audience s hare YTD June 2006:Prime time audience s hare YTD June

TV advertis ing net revenue s hare 2005:

Station’s All Day Audience ShareYear to Date to June 30, 2006

1 TV Nova was acquired in May 20052 Galaxie Sport was acquired in September 2005Sources: CME Estimates, ATO - Mediaresearch

General channel, market leader in the Czech Republic, high rated news, local series, internationally successful movies and series. Main target: 15-54 year old general audience

Sports cable channel with local and international sporting events, news and magazines. Main target: 15-54 year old male audience

CT211%CT1

21%

Others6%

TV Nova42%

Prima TV20%

4

Competition

Terrestrial TV stations with national coverage: CT1, CT2, TV Nova, Prima TV

Digital (DVB-T) channels: TBD

General channels with cable distributions: Foreign free to air and free to satellite channels (RTL, ZDF, TVP1, ORF, etc)

Specialized CATV local channels:

Movie Channels: Hallmark, CS Film, Romantica, AXN, Spectrum, Reality TV, Club, Minimax, Jettix, National geographics, Discovery, Animal Planet, new MGM channel planned

Sport channels: Eurosport, Sport 1

News channels: TA3, 24CZ

Music Channels: Ocko

Others: TV Paprika, TOP TV

Premium Channels: HBO, HBO2

Specialized foreign channels: MTV, VH1, Mezzo , Private Gold, Private Blue, Eurosport 2, Extreme sport, DSF, ESPN-classic sport, BBC, BBC Prime, CNN

5

Competition

4 terres trial s tations are dominant and have continued to retain s hare

Digital Update

DVB-T set-top boxes started sale in early 2006 due to Olympics and World Cup covered by CT4 (only distributed by DVB-T and DTH)

The decision of the Media Council to grant 6 new DVB-T licences was cancelled by the court on September 6, 2006

Only about 50,000 households equipped with DVB-T set-top boxes

Transition to Digital will take several years

Adults 15+, All Day Share2000 2001 2002 2003 2004 2005 2006YTD

4 Terrestrial Stations 94.2% 94.4% 94.5% 93.6% 94.2% 93.9% 93.0%Other TV Stations 5.8% 5.6% 5.5% 6.4% 5.8% 6.2% 7.0%

% Change of Terrestrial 0.2% 0.1% -0.9% 0.6% -0.3% -0.9%

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Market leaders hip

The Leadership Map

Source: TV Nova

Czech Republic audience shares Jan 1 - Aug 31, 2006

Adults 15+

Adults 15-54

Adults 15-34

Time Mon Tue Wed Thu Fri Sat Sun Time Mon Tue Wed Thu Fri Sat Sun Time Mon Tue Wed Thu Fri Sat Sun

06:00 06:00 06:0006:30 06:30 06:3007:00 07:00 07:0007:30 07:30 07:3008:00 08:00 08:0008:30 08:30 08:3009:00 09:00 09:0009:30 09:30 09:3010:00 10:00 10:0010:30 10:30 10:3011:00 11:00 11:0011:30 11:30 11:3012:00 12:00 12:0012:30 12:30 12:3013:00 13:00 13:0013:30 13:30 13:3014:00 14:00 14:0014:30 14:30 14:3015:00 15:00 15:0015:30 15:30 15:3016:00 16:00 16:0016:30 16:30 16:3017:00 17:00 17:0017:30 17:30 17:3018:00 18:00 18:0018:30 18:30 18:3019:00 19:00 19:0019:30 19:30 19:3020:00 20:00 20:0020:30 20:30 20:3021:00 21:00 21:0021:30 21:30 21:3022:00 22:00 22:0022:30 22:30 22:3023:00 23:00 23:0023:30 23:30 23:3000:00 00:00 00:00

1. TV Nova 1.TV Prima, 2.TV Nova 1.ČT1, 2.TV Nova 1.ČT 1, 2 TV Prima, 3 TV Nova 1 ČT 2

1.1.- 31.8.2006 1.1.- 31.8.2006 1.1.- 31.8.2006

7

Market Share Evolution

Winter Olympic Games (Czech National Ice Hockey Team won a bronze medal)

0

10

20

30

40

50

60

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35

ČT 1 ČT 2 TV Nova TV Prima Others2006 YTD

Hockey Championship

Football World Cup

Start of Fall Season

Prime time audience share trendsTarget group: 15 - 54

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2006 New Sales Policy

We decided to implement a new sales policy to grow TV advertising market

New Sales Policy accepted by anti-monopoly office and the market

New s ales model in place since the beginning of 2Q 2006

Going forward, the main characteristic of the sales strategy will continue to be trans parency

Sales goal is to be recognized as the driver of the market

To underpin the long term approach of TV Nova, we will focus on building strong partnerships with agencies and clients, as a condition for future deve lopment

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Autumn Programming Schedule

10

: Autumn programming s trategy Continue with local, fic tion news and entertainment formats and the bes t fore ign product

Succes s ful locally produced s eries

Hospital in the Rose Garden (Ordinace v ruzove zahrade) 2 (Ordinace 1 – 50.7% share in 15-54 Spring 2006). Fall season thus far 52.9% in 15-54

Insuring Happiness (Pojistovna Stesti) 1 and 2 (Pojistovna 1 first run – 70.2% share in 15-54 Fall 2004). Rerun performs better than 2 new series on Prima and Czech TV.

The Street (Ulice) (44.4% share in 15-54 Spring 2006). 50% thus far in Fall season

Entertainment formats

Pop Idol 3 (Pop Idol 1 – 72.2% share in 15-54 Spring 2004, Pop Idol 2 – 59.9% share in 15-54 Spring 2005). Performing in line with casting episodes of previous two series. 55.1% share in 15-54 and growing. Last episode 61.2%.

Autumn Programming Schedule

11

( )Autumn programming s trategy continued

Highly rated news and current affairsprogramming

112 (58% share in 15-54)

TV News remains strong (27.4 rating, 70.4% share in 15+)

Internationally s ucces s ful fore ign product

LOST strong start (21.2 rating, 53.9% in 15+, 22.6 rating, 60.6% share in 15-54)

CSI growing (CSI – 43.8% share in 15-54 Spring 2006, CSI Miami – 42.6% share in 15-54 Spring 2006). CSI 51% share and CSI Miami 47.3% share thus far.

Increas ed focus on marketing and inves tment in our brand power

Autumn Programming Schedule

12

TV Nova Res tructuring

Res tructuring proces s initiated from Q2 2006. Outcome will be evident in 2007:

Changes in sales strategy

Organization

Efficiency

Programming and production

Growth in revenues is expected to come from:

Continuing increases of CPP under the new sales policy

Legislation eliminating advertising space on public Czech Television

More sophisticated sales techniques

New channels

Cos t reduction driven by:

Introduction of strong cost control

More efficient program planning and production

Consolidation of operations

13

0

20

40

60

80

100

120

140

2004 2005 2006 Guidance

US

$ m

Czech Republic

99.4*

0

50

100

150

200

250

2004 2005 2006 GuidanceSegment Net Revenues¹

US

$ m

.

Segment Net Revenues, EBITDA and EBITDA Margin

For a reconciliation of non-GAAP financial measures presented here to most comparable GAAP financial measures, please see the corresponding reconciliation slides on pages 52 – 53 of our Q2 2006 results presentation on www.cetv-net.com

48%

99.4

208.1

2004*FY

46%

110.8

235.0

2005*FY

11%

13%

%Growth

48%EBITDA Margin %

(14%) 95EBITDA

(15%)200Net Revenues

%Growth2006 Guidance

Czech Republic( )US$ m

208.1*

154.0

235.0*

* Including pre-acquisition data, based on management estimates for the periods prior to our May 2, 2005 acquisition. Reported results for our ownership in 2005 were: Net revenues US$ 154.0m and EBITDA US$ 71.5m

110.8*

95

71.5

48%

EBITDA MARGIN %

48%

0%

10%

20%

30%

40%

60%

50% 200

EBITDA¹

¹ Lighter colour denotes pre acquisition results

14

Looking Ahead

Development of Brand

Driven by Marketing expertise

Development of Product

Stronger News

More local content

More Channels

Development of Res ources

Talent

Facilities

Multiple distribution (DTH, ADSL, Cable, IPTV, DVB-T)

Development Beyond TV

Internet

And transition into other new media…