OREANDA-NEWS. September 24, 2007. Golden Telecom, Inc. (“Golden Telecom” or the “Company”) (NASDAQ: “GLDN”), the leading provider of integrated telecommunications and Internet services in the largest population areas throughout Russia and other countries of the Commonwealth of Independent States (“CIS”), today announces that it has acquired the outstanding stakes in its 9 joint-ventures the with regional companies of Svyazinvest (“MRKs”) for cash consideration of $2.5 million.

The joint ventures, which include ZAO TeleRoss-Kubanelectrosvyaz, ZAO TeleRoss-Volgograd, ZAO Teleross-Ekaterinburg, ZAO TeleRoss-Tumen,  ZAO TeleRoss-Samara, ZAO TeleRoss-Voronezh, ZAO TeleRoss-Novosibirsk, ZAO TeleRoss-Vladivostok and ZAO Comincom Chernozemie were formed in the mid-1990’s in order to provide long-distance and other commercial services to corporate clients. Golden Telecom and the regional operators of Svyazinvest each controlled 50% in the respective regional joint-ventures with the exception of ZAO TeleRoss-Samara, where the MRK controlled 10% and ZAO Comincom Chernosemie where the MRK’s stake was less than 1%.