SOURCE: Golden Telecom

November 01, 2007 15:10 ET

Golden Telecom Statement Clarification

MOSCOW, RUSSIA--(Marketwire - November 1, 2007) - Golden Telecom, Inc. ("Golden Telecom" or the "Company") (NASDAQ: GLDN) is the leading provider of integrated telecommunications and Internet services in the largest population areas of Russia and the Commonwealth of Independent States.

Golden Telecom is clarifying statements attributed to Mr. Jean-Pierre Vandromme, Chief Executive Officer of Golden Telecom, on November 1, 2007 relating to the Company's potential annual sales which were misinterpreted by news agencies. At a press conference on the Company's operations in the Russian Northwest region held in St. Petersburg, Mr. Vandromme stated that the Company may have revenues in 2012 comparable to the current revenues of the Svyazinvest regional companies ("MRKs") excluding Rostelecom, depending on the overall uptake of broadband services in the country and the Company's market share.

About Golden Telecom (www.goldentelecom.ru):

Golden Telecom, Inc. (NASDAQ: GLDN) is the leading provider of integrated telecommunications and Internet services in the largest population areas of Russia and the Commonwealth of Independent States (CIS), with its own facilities and communications infrastructure. The Company offers telephony, data transfer and Internet access services to corporations, operators and private individuals through its existing networks in large cities, including Moscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara, Kaliningrad, Krasnoyarsk, Almaty and Tashkent, as well as through rented channels and fiber-optic and satellite communications networks, including approximately 293 combined access points in Russia and other CIS countries. The Company also offers mobile communications services in Kiev and Odessa.

Contact Information

  • For additional information please contact:

    Public Relations Department:
    Anastasia Borzova
    Email: Email Contact
    Tel.: +7 (495) 797-9300
    Fax: +7 (495) 797-9332

    Investor Relations Department:
    Alexey Subbotin
    Email: Email Contact
    Tel.: +7 (495) 797-9300
    Fax: +7 (495) 797-9331
    www.goldentelecom.ru