OREANDA-NEWS. October 12, 2007. 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”) and its subsidiary Corbina Telecom today announce the results of the first stage of its “Triple-65” project – the rollout of fiber-optic networks in major cities of Russia using ‘Fiber-to-the-Building’ (“FTTB”) technology.

In the last three months, Golden Telecom and Corbina Telecom added almost 65,000 broadband subscribers in the most competitive market of Moscow. The companies added 184,600 subscribers in 2007 in total increasing the number to 299,600 by the end of September 2007.

In Russia, during the previous three months, Golden Telecom and Corbina Telecom added approximately 86,000 new broadband subscribers. During the first three quarters of 2007, the total amount of subscribers for both companies increased by 243,400 to 383,400.

About “Triple-65” project

In 2006, Golden Telecom decided to use FTTB as its main technology for broadband access. The acquisition of Corbina Telecom in May 2007 was the key element of its implementation. Together, the companies plan to rollout FTTB networks in 65 cities of Russia with a total population of 65 million people, offering broadband access and triple-play services to approximately 65% of the households which dwell in high-rise apartment blocks, hence the project name – “Triple-65”. In the targeted areas there are approximately 100 apartments per building in Russia with 2.8 people per household on average. Thus the total networks will enable access to approximately 15.6 million households with 42.3 million people, becoming the largest broadband network in Russia.