Golden Telecom Marks Fifth Anniversary of the Company's Listing on NASDAQ
30 Sep 2004

NEW YORK, USA (September 30, 2004) - Golden Telecom, Inc., a leading facilities-based alternative provider of integrated telecommunication services in Russia and other countries of the Commonwealth of Independent States ("CIS"), today announced that a top-management of the company will take part in the official opening of quotation on the NASDAQ on Thursday, September 30, 2004. The event will mark the fifth anniversary of the Company's listing on the NASDAQ.

The ceremony will start at the headquarters of the NASDAQ at 9:15 am (local time). The opening will be followed by a press conference featuring Golden Telecom President and Chief Executive Officer, Mr. Alexander Vinogradov and Chief of the Federal Service for Financial Markets of the Russian Federation, Mr. Oleg Vyugin.

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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