Golden Telecom: Golden Telecom Receives Access Codes for Long Distance Services in Russia
Golden Telecom Receives Access Codes for Long Distance Services in Russia
MOSCOW — (MARKET WIRE) — January 10, 2007 — Golden Telecom, Inc. (”Golden Telecom” or the”Company”) (NASDAQ: GLDN), a leading
facilities-based provider ofintegrated telecommunications and Internet services in major populationcenters throughout Russia and other countries of the Commonwealth ofIndependent States (”CIS”), today announced that it has received accesscodes for long distance services in Russia.
On December 15, 2006, Minister of the Russian Federation for Communicationsand Informatization Leonid D. Rejman signed a Resolution No.171 allocatingaccess codes “51″ for domestic long distance (”DLD”) services and “56″ forinternational long distance (”ILD”) services to Golden Telecom. Thisresolution was as required by Russian legislation registered by theMinistry of Justice of the Russian Federation on the 28th of December. Thiswill allow people to choose Golden Telecom as an operator providingdomestic and international long distance (”DLD\ILD”) services. The accesscodes will allow Golden Telecom to fully utilize its Federal TransitNetwork (”FTN”) which was completed on January 16, 2006. The FTN consistsof 4 international communications transit nodes, 7 intercity communicationstransit nodes deployed in each federal district of Russia, and 88connection points or FTN access nodes located in each constituent territoryof Russia. With the access codes and the FTN, Golden Telecom get access toa potential customer base of 140 million people and 1,300,000 businessesacross Russia.
Commenting on the receipt of the access codes, Mr. Jean-Pierre Vandromme,Chief Executive Officer of Golden Telecom, noted, “Golden Telecom hasconstructed its own FTN which covers all regions of Russia and is capableof providing a full range of DLD\ILD services. We expect to start providingDLD/ILD services throughout Russia during first quarter of 2007. Based onour existing client base, an effective marketing campaign and a highlyskilled and experienced sales force, Golden Telecom plans to capture atleast a 20% market share of the total DLD/ILD market in Russia by the endof 2010. According to management estimates, the total market for suchservices will reach $3.5 to $4.5 billion by the end of 2010. We see thereceipt of our access codes as another exciting stage in our continuedgrowth and expansion into the Russian regions.”
About Golden Telecom (www.goldentelecom.com)
Golden Telecom, Inc. (NASDAQ: GLDN) is a leading facilities-based providerof integrated telecommunications and Internet services in major populationcenters throughout Russia and other countries of the CIS. The Companyoffers voice, data and Internet services to corporations, operators andindividuals using its metropolitan overlay networks in major cities,including Moscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara,Kaliningrad, Krasnoyarsk, Alma Ata and Tashkent and via leased channels andfiber optic and satellite-based networks, including approximately 287combined access points in Russia and other countries of the CIS. TheCompany offers mobile services in Kiev and Odessa.
Statements made in this press release are forward-looking and are madepursuant to the provisions of the Securities Litigation Reform Act of 1995.Such statements include those on the utilization of the access codes andFTN and the expected benefits of such, the expected markets for our DLD/ILDservices and our ability to capture portions of that market. It isimportant to note that such statements involve risks and uncertainties,which may cause results to differ materially from those set forth in thesestatements. Such risks and uncertainties include, but are not limited to,the possibility that we are not able to develop DLD/ILD services and FTN inthe manner we anticipate or that we do not realize the expected benefit forsuch service offerings or that the market for such services does not growat the rates that we expect. Additional information concerning factorsthat could cause results to differ materially from those in theforward-looking statements is contained in the Company’s filings with theU.S. Securities and Exchange Commission, including the Company’s quarterlyreports on Form 10-Q, periodic reports on Form 8-K filed during 2006, andthe Company’s annual report on Form 10-K for the year ended December 31,2005.
Popularity: 1% [?]
