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Golden Telecom Announces Appointment of Chief Marketing Officer
15 May 2007

MOSCOW, Russia (May 15, 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”), today announced that Mr. Fred Ledbetter has been appointed Vice President and Chief Marketing Officer of Golden Telecom.

In this role, Mr. Ledbetter will be responsible for Golden Telecom’s marketing strategy, consumer and business brand development, product lifecycle management, new product innovation, and corporate communications.

Prior to joining Golden Telecom, Mr. Ledbetter worked as Managing Partner of Golden Reach Ltd, providing management consulting for global companies including strategy and business planning, product strategy, and product marketing. Prior to working with Golden Reach Ltd., Mr. Ledbetter held the position of Chief Executive Officer of Imaginet, an operating entity of Czech Telecom responsible for a portfolio of companies which included the Czech Republic’s leading ISP, Internet advertising, a hosting center, a B2B auction exchange, and a small business targeted sales ASP.

Mr. Ledbetter was also with Global Telesystems, Inc. (GTS) for five years, initially responsible for cellular company start-ups across Russia and Ukraine and later responsible for the Internet product strategy and subsequent pan-European ISP roll out. Mr. Ledbetter’s experience in Russia dates back to 1992, when he served as Deputy Managing Director for Moscow Cellular Communications, and grew the company as a start-up to yearly revenue of US $80 mln.

 

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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