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Golden Telecom Group of Companies Makes New Appointments.

Business Wire

| March 13, 2003 | COPYRIGHT 2003 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Business Editors/High-Tech Writers

MOSCOW--(BUSINESS WIRE)--March 13, 2003

Golden Telecom, Inc. (Nasdaq: GLDN) announced today the appointment of one senior vice president and six vice presidents within the Golden Telecom group of companies.

Mr. Oleg Malis was appointed as senior vice president. He was also appointed as head of the newly created Mergers and Acquisition Department.

The following individuals were appointed as vice presidents within the Golden Telecom group of companies:

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