MOSCOW, Russia (April, 2 2006).Golden Telecom, Inc. (“Golden Telecom” or the “Company”) (NASDAQ: “GLDN”) today announced that it has finalized the acquisition of 70% of ZAO Tatar Intellectual Communications (“Tatintelcom”) – an alternative provider of communication services operating in the Republic of Tatarstan of Russia. The purchase price of the acquisition was approximately US $4.0 million.

Established in 2001, Tatintelcom is the largest provider of Internet access services in Tatarstan, in terms of traffic volume. In addition, Tatintelcom is licensed to provide broadband access services on the basis of ADSL technology, rent communication channels and construct local communication and VPN networks.

Tatintelcom’s access points in the city of Kazan are located on the largest nodes of the Kazan City Telephone Network (KCTN), equipped with ADSL broadband access equipment and connected into a common fiber-optic Ethernet network with output capacity of 1 Gb/s. According to late 2005 data, the utilized capacity of the KCTN was 227,964 numbers. In addition to Kazan, Tatintelcom also provides operation of corporate networks in the two largest cities of Tatarstan, Nizhnekamsk and Naberezhniye Chelny, as well as other residential areas of the Republic of Tatarstan, using resources of a rented trunk network.

Golden Telecom is currently completing the construction of a fiber-optic communication line (“FOCL”) on the Nizhny Novgorod – Kazan – Ufa route as an extension of its recently inaugurated Moscow – Nizhny Novgorod segment. Kazan, with its well-developed infrastructure and large number of businesses, is a strategically important point within this segment. Upon completion, the FOCL will cross the entire Republic of Tatarstan and Golden Telecom will discover new opportunities for the development and optimization of its business in Tatarstan.

Commenting on this deal Jean-Pierre Vandromme, Golden Telecom’s Chief Executive Officer, noted: “Promotion of broadband Internet access services in the regions is the most important component of our business strategy. The fact that Tatintelcom has access to the last mile in Kazan, as well as the fact that Golden Telecom disposes of its own trunk cable are the key factors ensuring active promotion of accessible broadband Internet access services not only among corporate clients but also among a great number of private customers and small businesses. Prior to the acquisition of Tatintelcom, the Company was not represented in the republic but operated via its partners. Acquisition of Tatintelcom will enable the Company to provide services to its current corporate clients directly and enter the mass-scale market of broadband access services”.

About “Golden Telecom” (www.goldentelecom.com):

Golden Telecom, Inc., (NASDAQ: “GLDN”) is 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”).  The Company offers voice, data and Internet services to corporations, operators and consumers using its metropolitan overlay network in major cities including Moscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara, Kaliningrad, Krasnoyarsk, Almaty, and Tashkent, and via intercity fiber optic and satellite-based networks, including approximately 259 combined access points in Russia and other countries of the CIS. The Company offers cellular communication services in Kiev and Odessa.

Statements made in this press release are forward looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements include those on our development of our fiber optic cable network, expected completion of future sections of our fiber optic network and the expected benefits of such network, the expected growth of the broadband and fixed line markets, benefits of the Tatintelcom purchase and the Company’s growth strategy. It is important to note that such statements involve risks and uncertainties, which may cause outcomes to differ materially from those set forth in these statements. Such risks and uncertainties include, but are not limited to, the possibility that we are not able to develop our fiber optic network in the manner in which we anticipate, that the expected benefits of our fiber optic network and broadband strategy do not materialize, or that the Company’s growth strategy does not materialize in the manner expected or that the markets in which we operate do not grow as we expect. Additional information concerning factors that could cause results to differ materially from those in the forward looking statements is contained in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's quarterly reports on Form 10-Q, current reports on Form 8-K filed during 2006, and the Company's annual report on Form 10-K for the year ended December 31, 2005.