SOURCE: Golden Telecom

August 15, 2007 11:42 ET

Golden Telecom Signs Contract With McDonald's for WiFi Services

MOSCOW--(Marketwire - August 15, 2007) - Golden Telecom, Inc. ("Golden Telecom" or the "Company") (NASDAQ: GLDN), the leading provider of integrated telecommunications and Internet services in the largest population areas throughout Russia and other countries of the Commonwealth of Independent States ("CIS"), announces that it has signed the agreement to provide WiFi equipment and services to McDonald's company.

In accordance with the agreement recently signed between Golden Telecom and McDonald's Corporation Russia, Golden Telecom will provide the chain of Russian McDonald's restaurants with Golden WiFi services. The WiFi Internet access will be available to all the restaurants' visitors in Russia. McDonald's now operates 175 restaurants in Moscow, Moscow Region, St. Petersburg, Nizhny Novgorod, Yaroslavl, Samara, Kazan, Voronezh, Volgograd, Krasnodar, Sochi, Nizhnekamsk, Almetievsk, Saratov, Rostov-on-Don, Ufa and Orenburg.

About Golden WiFi:

Golden WiFi network is the largest WiFi network in the world. It consists of 7,500 access nodes and covers approximately 800,000 households and the most popular public places in Moscow.

About Golden Telecom (

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 roughly 293 combined access points in Russia and other CIS countries. The Company also offers mobile communications 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 those on expected launch of WiFi services in McDonald's restaurants. 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 we are not able to launch WiFi in McDonald's restaurants in Russia. 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

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