net loss of $1,375,000 for the three months to June 30 and a six month loss to that date of $4,769,000.

The figures compare favourably to the same second quarter and first half periods last year of $4,283,000 and $7,976,000, respectively.

CME, in the middle of a long term plan to provide the infrastructure for television services to several European countries, recorded net revenue of $28,551,000 in the second quarter, a near $18.9 million more than 1994's second quarter.

Operating profit rose to $10,780,000, nearly $11.6 million better than the comparable period.

The company said that the increases are attributable to the dramatic revenue and income growth of Nova TV, the national Czech Republic station, which was launched in February 1994.

Losses at 1A, the Berlin television station and FFF, the Nuremberg television station, and expenses related to CME's station and licence development efforts continued to impact the company's overall results.

Nova declared a dividend on June 23 of $2,029,000, to be paid in the fourth quarter.

Mr. Leonard M. Fertig, CME president and CEO said,"Our second quarter results reflect the continued dramatic growth of Nova TV, our national Czech Republic television station. In only 17 months, the station has captured over 70 percent of television viewing in the Czech Republic.

"Nova TV's outstanding results have been offset by losses at our developing regional television stations, as well as by our active licence development efforts.

"To date, we have made significant progress in obtaining commercial broadcast licences in seven Central and Eastern European media markets. Within the next 18 months we expect to launch television and radio properties in Slovenia, Romania, Hungary, Slovakia and Germany.

"These stations combined will increase our total population covered from 17.4 million today to over 46 million by the end of 1996.'' GAINING STRENGTH -- CME's share price since February