X0202 3 2006-12-27 0 0001354513 CTC Media, Inc. CTCM 0001382868 Alfa CTC Holdings LTD THEMISTOKLI DERVI 5, ELENION BUILDING, 2ND FLOOR, NICOSIA G4 1066 CYPRUS 0 0 1 0 0001240073 CTF HOLDINGS LTD SUITE 2 4 IRISH PLACE GILBRALTAR J1 00000 GIBRALTAR 0 0 1 0 0001240075 CROWN FINANCE FOUNDATION AM SHRAGEN WEG 14 PO BOX 1618 VADUZ LIECHTENSTEIN N2 00000 LIECHTENSTEIN 0 0 1 0 0001240072 ALFA FINANCE HOLDINGS SA 3, BLD DU PRINCE HENRI LUXEMBOURG N4 L-1724 LUXEMBOURG 0 0 1 0 Common Stock 9167464 D Alfa Finance Holdings S.A. ("Alfa Finance") is the sole shareholder of Alfa CTC Holdings Limited. CTF Holdings Limited indirectly owns a majority of the shares of Alfa Finance. CTF Holdings disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose. Crown Finance is the sole shareholder of CTF Holdings. Crown Finance disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose. Exhibit List ------------ Exhibit 24 - A conformed copy of the Power of Attorney authorizing Franz Wolf to sign this Form 3 on behalf of Crown Finance Foundation. /s/ Maria Pitta 2006-12-29 CTF Holdings Limited By: /s/ Franz Wolf Name, Title: Franz Wolf, Director on behalf of CTF Holdings Limited 2006-12-29 Crown Finance Foundation By: /s/ Franz Wolf Name, Title: Franz Wolf, Attorney-in-fact on behalf of Crown Finance Foundation 2006-12-29 Alfa Finance Holdings S.A. By: /s/ Pavel Nazarian Name, Title: Pavel Nazarian, Director of Headquarters on behalf of Alfa Finance Holdings S.A. 2006-12-29