SOURCE: Golden Telecom

April 25, 2007 12:37 ET

Corbina Telecom Subscribers Obtain Golden WiFi Access

MOSCOW, RUSSIA -- (MARKET WIRE) -- April 25, 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"), and Corbina Telecom, a large Russian telecommunication company providing various communication services to corporate and individual clients, announce a new joint service offering.

Starting from May 1, 2007 Corbina Telecom Domestic Network subscribers in Moscow will be able to use the new joint option "Golden Wifi" -- wireless Internet Access, which can be used in in all areas covered by the Golden WiFi-Network. Currently, the network consists of 7,500 access nodes and covers approximately 800,000 households, open areas and most popular public places in the city.

The subscriber-price of the above mentioned option is unique -- 250 RUR (including VAT) monthly for unlimited Golden WiFi Internet-access. The subscriber can anytime choose one of the two access types -- Golden WiFi Access or Corbina Telecom Wireline Access.

The "Golden WiFi" option can be activated in addition to Corbina Telecom Domestic Broadband Access with the existing tariff plan.

"This is an innovative technical solution for the Russian market when an Internet user can get wireline and wireless access from one provider. Such integration of technologies gives access irrespective to subscribers' whereabouts and let them always stay on-line," comments Dmitry Malov, Vice-President of Corbina Telecom.

"The option offered by Golden Telecom and Corbina Telecom is a pioneering effort in the long chain of new solutions, which can be jointly developed with Corbina Telecom. It will help us both to attract new users, and provide new solutions to existing subscribers," noted Dmitry Bragin, Vice-President of Golden Telecom.

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 overlay network in major cities including Moscow, Kiev, St. Petersburg, Nizhniy Novgorod, Samara, Kaliningrad, Krasnoyarsk, Alma-Ata, and Tashkent, as well as leased channels and fiber-optic and satellite-based networks, including approximately 290 combined access points in Russia and other countries of the CIS. The Company offers cellular communication services in Kiev and Odessa.

Statements contained herein are forward-looking and are made in compliance with safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements include those concerning the launch of new joint service together with "Corbina Telecom" and operational issues related to this launch. The results or events predicted in these statements may differ materially from actual results or events. Such risks and uncertainties include, without limitation, the possibility that we are not able to launch Golden WiFi in the manner we expect with Corbina Telecom or that we are not able to achieve the market share we expect for WiFi customers. 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 Company's quarterly reports on Form 10-Q, periodic reports on Form 8-K filed 2007, and the Company's annual report on Form 10-K for the year ended December 31, 2006.

About Corbina Telecom

Corbina Telecom -- a large Russian telecommunication company providing various communication services to corporate and individual clients.

In number of basic services given by the company are included: installation of telephones and connection to network Internet by the dial-up and dedicated lines; a mobile telephony; rendering of services of long-distance and international telecommunication, including transfer of the traffic of operators of communication; construction of corporate networks (both real and virtual); rendering of services of data transfer; the construction of videoconferences; an IP-telephony; a web-hosting and colocation (allocation of servers of customers in a technical zone of Corbina Telecom); Internet-television Corbina.TV, sale of universal cards "Phone+Internet."

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