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Golden Telecom

July 7, 2005

Golden Telecom announces appointment of Vice-President of Mergers and Acquisitions

MOSCOW, Russia (July 7, 2005).   Golden Telecom, Inc. (“Golden Telecom” or the “Company”) (NASDAQ: GLDN), today announced that Mikhail Afonin was promoted to Vice President Mergers & Acquisitions reporting directly to Brian Rich, Senior Vice-President, Chief Financial Officer and Treasurer of Golden Telecom.

Prior to this appointment, Mr. Afonin was in charge of the carrier services business within the Company’s second largest revenue generating line of business, Carrier and Operator Services.  His role was instrumental in establishing Golden Telecom as one of the leading wholesale providers in the Russian and CIS markets by focusing on customer service, technological leadership, and high operational efficiency.

Mr. Rich,commented, “I am excited about Mikhail’s move into M&A, and I am confident that under Mikhail’s leadership that the M&A function will add significant value to the Company and its shareholders.  In his new role, Mikhail will concentrate on reinforcing Golden Telecom’s leadership position as an integrated provider of telecommunications and Internet services through strategic acquisitions and expansions that are beneficial to the Company’s long-terms plans.” 

Mr. Afonin joined Golden Telecom in 1997 and has held various positions including senior sales management roles in charge of Key Account Customers, Business Development, and Carrier Services Sales Director of Sovintel.  Prior to working at Golden Telecom, he worked in Deutsche Telekom’s Moscow office.  Mr. Afonin studied Applied Mathematics at Moscow State University for Radioelectronics, and Telecommunications at Moscow State Technical University for Communications and Information Technology.  He also holds a Masters of Science, with Distinction, in Operational Telecommunications from Coventry University in the United Kingdom. 

Mr Rich added, “Mikhail’s previous experience at Golden Telecom and in the telecommunications field in general will assist him as he leads the M&A efforts in the Company.”

 

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 metropolitan overlay network in major cities including Moscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara, Kaliningrad, Krasnoyarsk, Almaty, and Tashkent, and via intercity fiber optic and satellite-based networks, including approximately 227 combined access points in Russia and other countries of the CIS.  The Company offers mobile services in Kiev and Odessa.

Statements made in this press release are forward looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995.  Such statements include the expected impact of Mr. Afonin’s appointment on the Company’s mergers and acquisitions function and of the value to the Company and its shareholders.  It is important to note that such statements involve risks and uncertainties, which may cause outcomes to differ materially from those set forth in these statements.  Such risks and uncertainties include, but are not limited to, the possibility that the mergers and acquisitions department will not add the anticipated value to the company and its shareholders. 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, current reports on Form 8-K filed during 2005, and the Company's annual report on Form 10-K for the year ended December 31, 2004.

 

 

For additional information please contact:

 

Public relations:

Anna Chin Go Pin

e-mail: achin@gldn.net

tel.: +7-501-797-9300

fax: +7-501-797-9332

 

Investor Relations:

Ranjit Singh

e-mail: ir@gldn.net

tel.: +7-501-797-9300

fax: +7-501-797-9331

 

www.goldentelecom.com

 

 

 

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