Golden Telecom Strengthens its Position in the Broadband Access Market through Acquisition of Corus ISP
20 Nov 2006

MOSCOW, Russia (November 20, 2006) Golden Telecom, Inc. (NASDAQ: “GLDN”) announces the acquisition of a 100% interest in ZAO Corus ISP (“Corus ISP”) for US $1.2 million. Corus ISP is an alternative telecommunications services provider in Ekaterinburg, the fifth largest and dynamically growing city in Russia.

Corus ISP is one of the pioneers of Internet services in Ekaterinburg, presently focusing on broadband access for corporate clients, with its market share estimated at approximately 7%. Corus ISP has an extensive network in central Ekaterinburg, with approximately 29 km of owned and leased channels, and more than 120 point of presence.

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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