COMPANY'S NEWS

Golden Telecom announces a 44% year-on-year increase in revenues compared to 1Q06 and a 15% increase in net income.

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”), today announced its financial and operating results for the first quarter ended March 31, 2007.

16 May 2007

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