Golden Reports Q2Golden Reports Q2

Golden Telecom announced its financial and operating results for the second quarter of 2006

August 3, 2006

1 Min Read

MOSCOW -- Golden Telecom, Inc. (NASDAQ:GLDN - News) Q2 2006 versus Q1 2006:

11% increase in revenues

20% increase in operating income

20% increase in net income

Q2 2006 over Q2 2005:

19% increase in revenues

12% increase in operating income

14% increase in net income

Golden Telecom, Inc. ("Golden Telecom" or the "Company") (NASDAQ:GLDN - News), 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"), today announced its financial and operating results for the second quarter of 2006 ended June 30, 2006.

Commenting on today's announcement, Jean-Pierre Vandromme, Chief Executive Officer of Golden Telecom, said, "Our record results have exceeded our own expectations and demonstrate that we are on the right track in continuing our strategy of regional expansion and developing broadband offerings for the vast Russian market. We are pleased that our regional revenues have grown by 49% over the second quarter last year. Our WiFi implementation schedule is on target with over 3,000 WiFi nodes installed to date in Moscow, which we believe is the largest WiFi network in Europe. In the second quarter of 2006, our revenues grew 11% to $197.0 million and our consolidated net income grew 20% to $22.6 million over the first quarter of 2006. We look forward to further revenue growth as we see the fruition of investments in our broadband and federal transit network projects. Despite regulatory delays in utilizing our FTN network, we have achieved exceptional results."

Golden Telecom Inc.

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