SOURCE: Golden Telecom

April 17, 2007 09:31 ET

Golden Telecom and Avtovaz Start Cooperation

MOSCOW -- (MARKET WIRE) -- April 17, 2007 -- Golden Telecom, Inc. ("Golden Telecom") (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"), announced today it has completed the interconnection of OAO AVTOVAZ's ("AVTOVAZ") network to its own network.

AVTOVAZ is the largest automobile manufacturer in Russia and Europe, located in the Russian city of Tolyatti.

At the end of March 2007, Golden Telecom and AVTOVAZ signed contracts for the connection of AVTOVAZ's network to Golden Telecom's network at the zonal level and for transmission of traffic. Golden Telecom will provide zonal, intercity and international communication services to this large automotive company.

Commenting on project, Jean-Pierre Vandromme, Golden Telecom's Chief Executive Officer, noted, "The agreement with AVTOVAZ and the implementation of this project have been facilitated by our entry into the Russian long-distance communications market in January 2007 and our commencement of service offerings under our new license. Also, in December 2006 we completed the construction of our own fiber-optic communication line between Moscow and Samara, and we expect to put into commercial operation the fiber optic section between Samara and Tolyatti in April 2007. We are confident that with all the required licenses, our network infrastructure, our geographical presence, and our advanced service expertise in dealing with such large customers, we will be able to fully meet the complex telecommunication requirements of AVTOVAZ. We look forward to providing services to support AVTOVAZ's extensive operations across all regions of Russia, and in the CIS and Europe."

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 intercity 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.

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 those on the services we expect to offer AVTOVAZ, our ability to meet the service requirements of AVTOVAZ and the expected commercial operation of our fiber optic link between Samara and Tolyatti. 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 that the commercial operations between Golden Telecom and AVTOVAZ do not develop as we anticipate, that we are unable to offer the services that AVTOVAZ requires or that we are unable to launch commercial operation of the fiber optic link between Samara and Tolyatti in the time or manner that we anticipate. 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 during 2007, and the Company's annual report on Form 10-K for the year ended December 31, 2006.

Contact Information

  • For additional information please contact:
    Public Relations:
    Anna Chin Go Pin
    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