SOURCE: Golden Telecom

September 17, 2007 09:48 ET

Golden Telecom Signs Memorandum of Understanding With Sochi Administration

MOSCOW--(Marketwire - September 17, 2007) - Golden Telecom, Inc. ("Golden Telecom") (NASDAQ: GLDN), a leading provider of integrated telecommunications and Internet services in major population centers of Russia and other countries of the Commonwealth of Independent States (CIS), and the Sochi City Administration announce today the signing of a Memorandum of Understanding (MoU) as part of Sochi's development strategy.

By signing the MoU, Golden Telecom will be taking part in the development of inter-city web resources, and on-line education including on-line libraries and telemedicine projects with videoconferencing capabilities. Such projects are aimed at expanding educational and social services for Sochi residents. Implementation of these projects will be the first step towards the creation of a complete city-wide e-service system. Golden Telecom will work closely with Sochi's Education and Science Department on this project.

This project is part of Golden Telecom's successful business development in the region where Golden Telecom already operates networks in Krasnodar, Novorossiysk, Gelendzhik and other cities. In Sochi, Golden Telecom offers long-distance services, corporate networks and Internet access through Sochi Telecom, a telecom operator established in 1999 and acquired by Golden Telecom in October 2005.

The Education and Science Department of Sochi has extensive experience in developing information projects from pilot implementation of advanced communication technologies to their day-to-day use for educational and managerial purposes. Projects already implemented or being developed include those launched by the Federation of Internet Education, the Informatization Support Foundation and the National Personnel Training Foundation (the "Informatization of the Educational System" project). These projects confirm that the educational system in Sochi is ready for transition to the next level of informatization, which is expected to significantly improve the quality of education and life in the region.

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