Moscow, Russia (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.