Golden Telecom Signed Contract with McDonald's for WiFi Services
20 Aug 2007

MOSCOW, Russia (August 15, 2007) Golden Telecom, Inc. (“Golden Telecom” or the “Company”) (NASDAQ: “GLDN”), the leading provider of integrated telecommunications and Internet services in the largest population areas throughout Russia and other countries of the Commonwealth of Independent States (“CIS”), announces that it has signed the agreement to provide WiFi equipment and services to McDonald’s company.

In accordance with the agreement recently signed between Golden Telecom and McDonald’s Corporation Russia, Golden Telecom will provide the chain of Russian McDonald’s restaurants with Golden WiFi services. The WiFi Internet access will be available to all the restaurants’ visitors in Russia. McDonald's now operates 175 restaurants in Moscow, Moscow Region, St. Petersburg, Nizhny Novgorod, Yaroslavl, Samara, Kazan, Voronezh, Volgograd, Krasnodar, Sochi, Nizhnekamsk, Almetievsk, Saratov, Rostov-on-Don, Ufa and Orenburg.

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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