Moscow, August 29, 2003 - CNN International has signed an agreement with RBC TV Russia to provide the new business channel with live breaking news as well as news and business programming excerpts.

The agreement means that CNN's international news coverage will initially be available to an estimated 7-8 million households which will be able to receive the Moscow-based channel, which launches September 2.

The CNN programming will include the live breaking news for which it is recognized around the world, as well as items from its international news and business coverage that is gathered and produced from its 39 bureaux worldwide.

Artyom Inyutin, General Director of RBC-TV says: "The launch of RBC-TV has become an important event for the Russian business community. We pay special attention to information about Western markets. That is why we really need a news source which can provide our viewers with the news they are looking for. Our co-operation with CNN will let us use a foreign source of information, with CNN enjoying the possibility to use our information products in turn. We believe that owing to our relationship with CNN the Russian business community will be able to receive up-to-date and objective information."

"As the leading pan-European news provider*, CNN is very pleased to make its international news offering available to Russian viewers through RBC-TV, at a time when the role of international news has never been more important," said Chris Cramer, President, CNN International Networks. "The agreement with RBC is an important step for CNN in ensuring we work with the right broadcasters in this rapidly developing marketplace."

*Source: EMS 2003 (Interview), Europe 2003 (Ipsos) Independent Surveys

About CNN

CNN is the world's leading global 24-hour news network and is one of the world's most respected and trusted sources for news and information. The CNN brand is available to one billion people worldwide, via more than 30 CNN branded television, Internet, radio and mobile services produced by the CNN News Group, an AOL Time Warner company.

Worldwide CNN has almost 4,000 on staff, 39 news bureaux, and seven production centres, including its European headquarters in central London that produces and broadcasts an average of 10 hours a day of news and business programming from the region.

CNN International can be seen in more than 165 million television households and hotel rooms in more than 200 countries and territories worldwide, via a network of 38 satellites.

About RBC-TV

RBC-TV is the first and the only dedicated Russian-language business television channel in Russia. During its daily broadcasting RBC-TV will provide coverage of both the Russian and international financial markets, combining both news and analytical broadcasting. The channel will feature economic, financial and political news from Russia and other countries, analytical reviews, expert forecasts and commentaries, interviews with top politicians and businessmen, business press reviews, and special programs on topical problems of businesses in Russia.

RBC-TV will broadcast via direct connecting cable and satellite networks in Moscow, to subscribers of NTV+, Kosmos TV, Comcor-TV, and Divo-TV, and to clients of regional cable networks, as well as via the Internet (top news and videos will be placed on the www.rbctv.ru web-site), and regional television networks in the 12 largest cities of Russia with population over 1 million of residents.

RBC-TV is an independent division within the RosBusinessConsulting (RBC) group (RTS: RBCI; MICEX: RU14RBCI4001). The RBC group also includes RIA RosBusinessConsulting (an information agency operating the www.rbc.ru business information website), RBC SOFT (IT solutions) and RBC Center (an advertising agency).

The RBC group is a leader on the Russian market for business information, offering its audience the largest volume of financial news from Russia, the CIS and Western countries through its web resources. RBC has the largest business audience among other domestic mass media, with more than 1.5 million unique users per month for www.rbc.ru, and over 4 million unique users including all RBC Internet properties.

Mass media and information technologies are the two complementary business areas of RBC. The mass media business segment includes RIA RosBusinessConsulting (operating www.rbc.ru), RBC-TV, the analytical internet newspaper RBC-daily, other Internet-based information resources, such as Ytro, Turist.ru, Cnews, AutoNews, Sport.rbc.ru, Internet press conferences and annual international business forums. The IT business segment (RBC SOFT) offers software products, marketing research, system integration solutions and mass solutions, such as hosting, SSL certificates and e-commerce.

Note To Editors: RBC also has an agreement with CNBC, to provide business programming.

CNN Press Contact: Claudia Coles
Tel: +44 207 693 0944, E-mail: claudia.coles@turner.com

RBC Press Contact: Natalia Samoylova
Tel.: +7 (095)363-1111, fax: +7 (095)363-11-25, E-mail: nsamoylova@rbc.ru

Investor contact: Natalia Makeeva
Tel: +7 (095) 363-1111 (ext. 1369), e-mail: ir@rbc.ru, Web: www.rbcinfosystems.ru.