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Golden Telecom

July 19, 2005

Golden Telecom upgrading its international network

MOSCOW, Russia (July 19, 2005) - Golden Telecom, Inc. ("Golden Telecom" or "Company") (NASDAQ: "GLDN"), a leading facilities-based provider of integrated telecommunications and Internet services in major cities of Russia and other countries of the Commonwealth of Independent States (CIS), announced that it completed the upgrading of its STM-16 network from Moscow to Stockholm and its STM-1 network for data and Internet services.

Golden Telecom has carried out a substantial upgrade of its international network. The Company commissioned an additional STM-16 channel from Moscow to Stockholm to meet the growing requirements of its clients as well as to serve as back-up capacity for the primary services provided by the Company. With this additional channel, the aggregate international capacity of Golden Telecom is 5.6 Gbps, nearly double the previous capacity of 3.1 Gbps.

The continuing development and demand by the Company’s customers for Internet access services and the Data Center services has contributed to the growth of IP traffic on the Golden Telecom network. As an increasing number of customers, operators, and content providers choose Golden Telecom as the main provider of Internet services, the Company has invested to support this growth in traffic volumes by increasing its international IP capacity.  As planned, Golden Telecom increased its international IP capacity by two STM-1 channels of 155 Mbps each, raising the aggregate international IP capacity to 1.9 Gbps.

Michal Cupa, Chief Operating Officer of Golden Telecom, commented: "This capacity update corresponds with the Company’s plans to provide our customers with quality network capacity to satisfy their needs while also providing for the future growth and development of Golden Telecom’s backbone network."

 

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 our future growth and development plans. 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 our plans to develop our backbone network will not materialize. 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 about Golden Telecom, 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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