SOURCE: Golden Telecom

October 12, 2007 10:33 ET

Golden Telecom's Stock Has Been Included in the New NASDAQ Q-50 Index

MOSCOW--(Marketwire - October 12, 2007) - Golden Telecom, Inc. ("Golden Telecom" or the "Company") (NASDAQ: GLDN), 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"), today announces that its common stock has been included in the new NASDAQ Q-50 Index launched today.

The NASDAQ Q-50 Index is comprised of 50 non-financial securities ranked by market capitalization. They reflect companies across major industry groups, including computer hardware and software, telecommunications, retail/wholesale trade, and biotechnology.

Securities in the NASDAQ Q-50 Index are next eligible for inclusion in the NASDAQ-100 Index, a globally recognized benchmark that is the basis of more than 500 investment products in 36 countries. The NASDAQ Q-50 Index is a price return index (NASDAQ: NXTQ), which is ordinarily calculated without regard to cash dividends on index securities. The NASDAQ Q-50 Index commenced calculation today with a value of 150.00.

"The NASDAQ Q-50 Index is a new benchmark for some of the world's most up-and-coming growth companies," said NASDAQ Senior Vice President Steven Bloom. "The Index arms investors with a portfolio of some of NASDAQ's fastest growing companies in a diverse range of industries."

Commenting on this event, Mr. Jean-Pierre Vandromme, Chief Executive Officer of Golden Telecom said: "The inclusion of our stock in the new NASDAQ Q-50 Index highlights the strength of our business and is a sign of recognition of our achievements from the investment community. Golden Telecom is one of the leading communication services providers in the region offering investors from around the world exposure to fast growing communication markets in Russia and the CIS. From today, even more investors will have an opportunity to invest in our stock through various index-linked products."

About Golden Telecom (www.goldentelecom.com):

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 consumers using its metropolitan overlay network in major cities including Moscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara, Kaliningrad, Krasnoyarsk, Almaty, and Tashkent, and via intercity fiber optic and satellite-based networks, including approximately 293 combined access points in Russia and other countries of the CIS. The Company offers mobile services in Kiev and Odessa.

Contact Information

  • For additional information please contact:
    Public Relations:
    Anastasia Borzova
    Email: Email Contact
    Tel.: +7 (495) 797-9300;
    Fax: +7 (495) 797-9332

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