MOSCOW -- Golden Telecom, Inc. (NASDAQ:GLDN), Russia's largest independent telecoms operator, has signed a long-term agreement to provide gigabit Ethernet service to RBC-TV, the Russian business TV station. Golden Telecom, Inc. will provide a broadband virtual private network (VPN) for the broadcast of a high-quality digital signal by RBC-TV. The first stage of the two companies' collaboration envisages the provision of data channels operating at speeds from 30 Mb/sec to 100 Mb/sec using Golden Telecom's optical fiber network and Gigabit Ethernet technology. RBC-TV's central studio will link 30 remote terminals in banks, investment companies, as well as accounting and consulting companies, investment funds, exchanges and the business press to Russia's main cable and satellite channels. Currently Golden Telecom is the only provider in Moscow capable of carrying television broadcasts via Gigabit Ethernet. RBC-TV is a new project for the RBC group of companies and will be Russia's first business TV station, devoted entirely to Russian and international business news. RBC-TV will broadcast 24 hours a day, covering Russian and international financial and commodity markets. The service is expected to go live on September 1, 2003. Alexander Rozanov, Business Development Division Director of Golden Telecom noted: "New broadband technologies like Gigabit Ethernet are steadily becoming the solution of choice for modern TV and video transmission. We are delighted that Golden Telecom's Gigabit network will be used by Russia's premier business station." A. Inyutin, General Director of RBC-TV added: "Golden Telecom's services allow us to provide the best possible transmission quality. These new provision channels allow us to report on business events more effectively, and will help us retain our leading position in the provision of financial information in Russia. This first business station offers new growth opportunities to Russian business, and we will shortly give our audience a chance to see this for themselves." Golden Telecom Inc.