PINK MEDIA GROUP

The Republic Broadcasting Agency, Serbia's regulatory body responsible for broadcast media, announced today the final results of the competitive tendering process for the national frequencies.

Pink International's President, Mr. Zeljko Mitrovic, stated:

"I am very pleased with the outcome of the transparent competition. TV Pink submitted a comprehensive proposal based on a strong and varied program line-up and backed by a solid investment plan. TV Pink now enters a new phase of development reflecting the changing commercial broadcast environment. TV Pink is prepared to meet these new competitive challenges."

Serbia's Republic Broadcasting Agency issued a formal tender for national television licenses in January 2006. Pink International submitted a bid along with 12 other companies. On April 20, 2006, the Agency announced the results of this tender process, awarding a national license for eight years to TV Pink. Four other companies also received national licenses.

Pink International, the leading television (TV Pink) and radio (Radio Pink) broadcast company in Serbia and Montenegro, offers a wide range of high-quality entertainment and news programming. In 2006, TV Pink's Love, Habit, Panic has been nominated for a Rose d'Or in the Best Sitcom category. Through its radio and television stations, Pink International has defined and set the performance standards for commercial broadcast operations in the country. Established in 1993, Pink International launched TV Pink in 1994. Since 1998, TV Pink has generated the highest ratings and attracted the largest audience share annually.

Pink International is a member of the Pink Media Group (PMG). PMG is the largest, private commercial broadcast entertainment and media group in Southeast Europe. The group's diversified operations include: filmed entertainment production, radio and television broadcasting, satellite television production, music recording, optical media replication (CDs and DVDs) and executive/VIP aviation services. PMG refers to eight individual, legally and financially, independent companies. For more information on Pink International, please see: www.rtvpink.com/english.

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