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Golden Telecom Launches a New Project in Kazakhstan.



ASTANA, Kazakhstan -- Golden Telecom, Inc. ("Golden Telecom" or the "Company") (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
: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 Commonwealth of Independent States (CIS), community of independent nations established by a treaty signed at Minsk, Belarus, on Dec. 8, 1991, by the heads of state of Russia, Belarus, and Ukraine. Between Dec. 8 and Dec.  ("CIS Cis (sĭs), same as Kish (1.)


(1) (CompuServe Information Service) See CompuServe.

(2) (Card Information S
"), announced the launching a new project for the construction of a local communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software.  in Astana, the capital of the Republic of Kazakhstan.

The project embraces 3 residential complexes with 700 apartments and the business center "Astana City Center," with a total floor area of 11,000 sq. meters. The residential complexes and business center are presently under construction in the new micro-district of Astana referred to as the "Special Economic Zone 'Astana - New City'."

The project provides for the installation of 1,000 city telephones and the organization of permanent high-speed Internet See broadband.  access based on Ethernet/ADSL technologies. Golden Telecom will provide subscribers with local communication services, and, in cooperation with Kazakhtelecom, long-distance and international communication services. The business center is expected to be connected and operational in the third quarter of this year.

This year, SA Telcom, a wholly-owned Kazakh subsidiary of Golden Telecom, celebrated 10 years of operations in the Republic of Kazakhstan. This company was one of the first telecommunications operators to provide Internet and data transmission services in the Republic of Kazakhstan. During the 10 years of operations, the company built a network with 60 points of access throughout the country with a total capacity of 100 Mbps. Additionally, SA Telecom branches were opened in Astana, Karaganda, and Atyrau. The company has over 300 major customers, including K-Mobile, K-Cell, Nurbank, Haliburton, National Bank of the Republic of Kazakhstan, and others.

"For us, the Astana project is the beginning of a strategically new stage in the development of SA Telcom," says Zh. Aidabekov, General Director of SA Telcom. "In the long-term, we plan to expand this node to 2,500 numbers and provide communication services to other residential and business complexes of Astana. Our aim now is to become a universal operator for the end users, primarily in Astana, Almaty and Atyrau."

Andrei Patoka, Vice-President and Head of the Division for the Development of International and Regional Business for Golden Telecom, noted, "The regional components of the Company's businesses are of prime importance for Golden Telecom. In 2004, the revenues from our activity in the regions of Russia and the CIS countries There are two lists concerning CIS countries:
  • List of CIS countries by GDP (PPP)
  • List of CIS countries by GDP (PPP) per capita
 rose by 45% and accounted for a fourth of the total revenues of the company in 2004. This investment in Kazakhstan demonstrates our commitment to the Company's regional growth strategy, and also demonstrates our commitment to this important market of Kazakhstan."

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 Samara, river, Russia
Samara (səmä`rə), river, c.360 mi (580 km) long, rising in the foothills of the S Urals, European Russia. It flows generally northwest, and joins the Volga River at 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 Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
 Reform Act of 1995. Such statements include those on the completion of the local communications network in Astana and our future expansion in Kazakhstan. 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 we will not be able to complete the local communications network in Astana or expand our operations as anticipated. 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 Form 10-Q

See 10-Q.
, current reports on Form 8-K Form 8-K

The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock.


Form 8-K

See 8-K.
 filed during 2004 and 2005, and the Company's annual report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 for the year ended December 31, 2004.
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Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:4EXRU
Date:Apr 29, 2005
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