Golden Telecom Continues to Expand Its CIS Partner Network
10 Jul 2007

MOSCOW, Russia (July 9, 2007). Golden Telecom, Inc. (“Golden Telecom” or the “Company”) (NASDAQ: “GLDN”), a leading facilities-based provider of integrated telecommunications and Internet services in major population centers throughout Russia and other countries of the Commonwealth of Independent States (“CIS”), announces that it signed recently Interconnection Agreements with two more national carriers, “Telecom Georgia” and "Tajiktelecom".

Golden Telecom continues its expansion strategy development in the CIS and Baltic Region. “Golden Telecom has long standing partnership relations with more than 130 of the largest national and cellular operators in these regions. Recently, we signed Interconnection Agreements with BITE LT (Lithuania), Telecom Georgia (Georgia) and TajikTelecom (Tajikistan). The agreements give us an opportunity to optimize traffic and guarantee high quality and competitive pricing in both Russian and International wholesale markets”,- says Andrey Patoka, Vice-President for the Company’s International and Regional Business unit.

Golden Telecom Inc.

Altimo, a leading private equity group, operating on some of the world's most desirable and potentially lucrative mobile telecommunications markets, was created in 2005 from Alfa Telecom, which itself was established in 2004 to hold the telecoms investments of the Alfa Group Consortium (Golden Telecom, Inc., Turkcell Iletisim Hizmetleri A.S., Kyivstar GSM, MegaFon, VimpelCom, Sky Mobile). Those assets are in Russia , the CIS and other promising emerging markets.

Golden Telecom Inc. is a leading independent  fixed-line communications operator in Russia. The company provides, via its own infrastructure, complex telecommunications and internet services in Russia and several CIS countries. Listed on US NASDAQ. In Q1 2008, VimpelCom acquired 100% of the oustanding share capital of Golden Telecom.

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