SOURCE: Golden Telecom, Inc.

August 02, 2006 08:20 ET

Golden Telecom Announces the Appointment of new Director of Investor Relations

MOSCOW -- (MARKET WIRE) -- August 2, 2006 -- Golden Telecom, Inc. (NASDAQ: GLDN), today announced that Alexey Subbotin has been appointed as Director of Investor Relations of Golden Telecom.

Before joining Golden Telecom, Alexey Subbotin was part of the Strategy & Planning team at Barclays Capital (London, UK), the investment banking division of Barclays Bank Plc -- one of the leading international financial services groups. He was involved in the development of Barclays Capital's business in Continental Europe, working closely with the country managers and senior officers in London on various projects including development of competitive strategies, market entries and new product launches.

From 2000 to 2002, Mr. Subbotin worked at AIG Brunswick Capital Management (Moscow, Russia), where he was responsible for investments in Russian fixed-line telecom operators. Mr. Subbotin was involved in restructuring process and development and implementation of modern reporting and budgeting systems. He also advised top management on merger and acquisition transactions and dealt with the preparation of presentations and road-shows for analysts and investors.

Mr. Subbotin began his career in 1997 in the audit department of Arthur Andersen (St. Petersburg, Russia).

In 1997, Alexey Subbotin graduated cum laude from the State University of Economics and Finance (St. Petersburg, Russia). He also holds a diploma from the Anhalt University of Applied Science (Bernburg, Germany). In 2004, Mr. Subbotin received a Master of Business Administration degree from the IESE Business School (Barcelona, Spain).

Commenting on this appointment, Jean-Pierre Vandromme, Chief Executive Officer of Golden Telecom, said: "We are pleased to welcome the new Director of Investor Relations to our team. Alexey has been associated with major financial companies, is proficient on financial matters and challenges of business development and has worked in the telecommunications industry. His efforts will assist us in communicating our accomplishments, strategy, and vision to shareholders and investors, and we hope Alexey will make a substantial contribution to our common cause of consolidating the positions of Golden Telecom on the Russian and international telecommunications market."

On his part Alexey Subbotin added: "For me this is a very interesting and important appointment. Golden Telecom has excellent potential and a formidable reputation on the fast growing telecommunications market in Russia. I am pleased to be able to help in conveying Golden Telecom's story to its investors."

About Golden Telecom (www.goldentelecom.ru)

Golden Telecom, Inc., (NASDAQ: GLDN) is 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). The Company offers voice, data and Internet services to corporations, operators and individuals using its overlay networks in major cities, including Moscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara, Kaliningrad, and Krasnoyarsk, Alma-Ata and Tashkent, and via fiber optic and satellite-based telecommunications networks, including approximately 278 combined access points in Russia and other CIS countries. The Company offers mobile services in Kiev and Odessa.

Statements made in this press release are forward-looking and are made pursuant to the provisions of the Securities Litigation Reform Act of 1995. Such statements include the potential contribution from the activity of Mr. Subbotin to the growth and development of the Company. It is important to note that such statements involve risks and uncertainties, which may cause results to differ materially from those set forth in these statements. Such risks and uncertainties include, but are not limited to, the possibility that the activity of Mr. Subbotin will not contribute to the development of the Company to the expected degree. Additional information concerning factors that could cause results to differ materially from those in the forward-looking statements is contained in the Company's filings with the U.S. Securities and Exchange Commission, including the quarterly reports on Form 10-Q, periodic reports on Form 8-K, filed during 2006, and the Company's annual report on Form 10-K for the fiscal year ended December 31, 2005.

Contact Information

  • For more information please contact:

    Public Relations:
    Anna Chin Go Pin
    e-mail: Email Contact
    tel.: +7-495-797-9300
    fax: +7-495-797-9332

    Investor Relations:
    Alexey Subbotin
    e-mail: Email Contact
    tel.: +7-495-797-9300
    fax: +7-495-797-9331

    www.goldentelecom.com