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Golden Telecom Announces Fourth Quarter Dividend Payment

18 December 2005

Golden Telecom, Inc. (NASDAQ: GLDN) today announced
that its Board of Directors on December 12, 2005, approved the payment of a
quarterly dividend of $0.20 per common share. The dividend will be paid on
December 30, 2005, to common shareholders of record as of December 16,
2005.


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 competitive local carrier
services using its metropolitan overlay network in major cities including
Moscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara, Kaliningrad,
Krasnoyarsk, Almaty, and Tashkent, and data transmission and long distance
services via fiber optic and satellite-based networks, including
approximately 252 combined access points in Russia and other countries of
the CIS. The Company offers mobile 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 the expected payment of the dividend
on December 30, 2005. 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 may not pay the dividend.
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 2005, and the Company's annual report on Form 10-K
for the year ended December 31, 2004.







FOR MORE INFORMATION PLEASE CONTACT:
Public Relations:
Anna Chin Go Pin
e-mail: Email Contact
tel.: +7-095-797-9300;
fax: +7-095-797-9332
Investor Relations:
Ranjit Singh
e-mail: Email Contact
tel.: +7-095-797-9300;
fax: +7-095-797-9331
www.goldentelecom.com
SOURCE: Golden Telecom

Source: marketwire





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