Golden Telecom Hires FBI Veteran

Golden Telecom announces sppointment of VP and chief risk officer

November 18, 2004

2 Min Read

MOSCOW -- Golden Telecom, Inc. (NASDAQ:GLDN - News), today announced that C.E. "Tripp" Wallace, III will be appointed as Vice-President and Chief Risk Officer of Golden Telecom, Inc., effective December 1, 2004. He will assume the newly created position of Vice-President and Chief Risk Officer where he will manage Sarbanes - Oxley 404 Compliance, Internal Audit, Risk Management, Revenue Assurance, and the overall Risk Control function.

Prior to joining Golden Telecom, Tripp Wallace was a Special Agent in the Financial Crimes Unit of the Federal Bureau of Investigation (FBI) based in Cleveland, Ohio, where he managed complex financial crimes investigations throughout the United States. He has extensive knowledge of the corporate regulatory environment, internal auditing and control functions, and accounting rules and regulations. Mr. Wallace has spent the last seven years analyzing financial statements and entity controls of numerous operations that led to the successful prosecution of complex multi-state financial crime cases. Prior to joining the FBI, Mr. Wallace worked as an accountant for a United States subsidiary of the British multinational corporation, Courtaulds Fibers Rayon, Inc. Mr. Wallace has an undergraduate degree in accounting from Spring Hill College and a MBA from the University of Mobile.

Brian Rich, Senior Vice President and Chief Financial Officer of Golden Telecom commented that, "Golden Telecom has a strong reputation for corporate governance and attention to risk control. Given our size and continued growth and our need to address the current and on-going requirements of Sarbanes-Oxley, our organization now warrants an experienced and dedicated resource to ensure that we continue to manage our risks as we expand and optimize our operations. Clearly, Tripp's previous experience, analytic skills, and accounting background make him ideally suited to meeting Golden Telecom's needs."

Golden Telecom Inc.

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