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Golden Telecom

July 29, 2005

Golden Telecom announces appointment of Vice-President and Director of Human Resources

MOSCOW, Russia (July29, 2005).   Golden Telecom, Inc. (“Golden Telecom” or the “Company”) (NASDAQ: “GLDN”), today announced that Olga Novikova has been appointed as Vice President and Director of Human Resources. Ms. Novikova is an experienced human resources (“HR”) specialist, with proven expertise in all areas of HR management, including recruitment, employee relations, and HR strategy.

Prior to joining Golden Telecom, Ms. Novikova worked at PricewaterhouseCoopers Russia (“PwC Russia”) as a Director of Human Capital. At PwC Russia, she was responsible for implementing HR strategy, managing the HR department, and managing the Learning & Education department. Additionally, as Director of Human Resources at PwC Russia, she focused on managing organization effectiveness, corporate culture, and cost controls.

Ms. Novikova worked at PwC Russiafor more than 11 years as an Executive Search and Selection Assistant Manager, Executive Resourcing Senior Manager, and Director of Human Resources. Prior to joining PwC Russia, Ms. Novikova worked as an Executive Search and Selection Executive at Ernst & Young (Moscow), and as a Researcher/Translator at Thames Television.

Alexander Vinogradov, Chief Executive Officer and President of Golden Telecom, commented, "We are very pleased to welcome Olga as the newest member of our management team.  The employees at Golden Telecom are our greatest assets, and the employees of this Company will take us to the next level of growth and development.  I am sure that Olga’s broad expertise and deep knowledge of Human Resources will significantly contribute to the development of employees at Golden Telecom.”

Additionally, Mr. Vinogradov stated, “I would also like to express my gratitude to Irina Filatova who is departing Golden Telecom to head the HR department of one of Russia’s leading investment groups. Irina led HR department at Golden Telecom during a period of tremendous growth through acquisitions and expansions. I wish Irina every success in her new undertakings."

 

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 233 combined access points in Russia and other countries of the CIS.  The Company offers mobile services in Kiev and Odessa.

 

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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