Moscow, Russia (July 24, 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”), announces the commercial launch of its Golden WiFi network in MEGA family shopping centers.

The Golden WiFi wireless network has already been implemented and launched in MEGA stores in Moscow, Kazan, Yekaterinburg and St. Petersburg. Golden Telecom has further plans to launch Golden WiFi in all the MEGA shopping centers in Russia.

The Golden WiFi network covers the food courts and all public areas in these large retail centers. All guests can get WiFi Internet access using their personal WiFi enabled devices.

Customers will be able to use standard Golden WiFi rate plans. Payment cards can be found in cellular retail outlets and in other sales points in MEGA shopping centers.