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Golden Telecom

January 19, 2005

Golden Telecom announces appointment of Senior Vice-President, General Counsel and Corporate Secretary

MOSCOW, Russia (January 19, 2005) - Golden Telecom, Inc. (NASDAQ:GLDN) today announced that Derek A. Bloom has been appointed as Senior Vice-President, General Counsel and Corporate Secretary of Golden Telecom, Inc., effective February 1, 2005.

Prior to joining Golden Telecom, Derek Bloom was a Partner with the international law firm, Coudert Brothers, and has worked in Moscow since March 1995. At Coudert Brothers, Mr. Bloom represented multi-national corporations, banks and investment funds in Russia.   Mr. Bloom advised on projects to improve corporate governance practices in Russia and coordinated advisers to the Federal Commission for the Securities Market who wrote Russia’s Corporate Governance Code. He also represented clients on mergers and acquisitions in Russia, including internet and telecommunications transactions. In recent years, Mr. Bloom has focused on representing Russian corporations defending their assets against hostile takeovers. Prior to moving to Russia, Mr. Bloom was a partner in a Washington DC securities law firm that specialized in initial public offerings and related work for US financial institutions. 

Alexander Vinogradov, President and Chief Executive Officer of Golden Telecom, Inc.,commented that, “Derek has a broad range of experience with Russian corporate transactions, best corporate governance practices, and US securities law matters that should serve Golden Telecom well as it continues its growth.”

Derek Bloom added, "After twenty years of practicing US securities law and Russian corporate law in Washington D.C. and most recently in Russia, I look forward to working with the highly qualified team at Golden Telecom in advancing the company's interests and preserving its excellent reputation with its shareholders and business partners.”

Jeff Riddell, who has served as Senior Vice-President, General Counsel and Corporate Secretary since the establishment of Golden Telecom, will continue his association with Golden Telecom by acting as a Strategic Adviser to the President and Chief Executive Officer under the terms and conditions of a consulting arrangement to be entered into between Mr. Riddell and the company.

Mr. Vinogradov noted “Jeff and I have been colleagues for over seven years and I am extremely pleased that we will be able to continue our relationship during a transitional period for the company.  Golden Telecom has been greatly enriched by Jeff’s contribution to the company and we expect to continue to benefit from his unique expertise that combines the best of both Russian and western legal and business practices.”

 

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 CIS.  The Company offers competitive local exchange carrier services using its overlay network in Moscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara, Kaliningrad, and Krasnoyarsk; data and long-distance services using a fiber optic and satellite-based network – including approximately 200 combined access points in Russia and other countries of the CIS; dedicated and dial-up Internet access to businesses and consumers; Internet content through numerous web brands powered by its ROL portal; and mobile services.

 

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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