Golden Telecom, Inc.: Golden Telecom Launches Commercial Operation of the Largest WiFi Network in Europe
Golden Telecom Launches Commercial Operation of the Largest WiFi Network in Europe
MOSCOW — (MARKET WIRE) — January 24, 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”), announces today it will launch commercialoperation of its WiFi network (”Golden WiFi”) in Moscow on February 1,2007.
Golden WiFi is the largest WiFi network in Europe and the second largest inthe world. Currently, Golden WiFi covers approximately 800,000 householdsin Moscow and consists of 6,700 access nodes. Based on the number of accessnodes alone, Golden Telecom has surpassed the world’s largest WiFi networksin cities like San Francisco, Philadelphia and London.
Golden Telecom commenced the final phase of its WiFi network rollout withbeta-testing at the end of 2006. More than 50,000 users have registered onwww.goldenwifi.ru since the network became available in trial mode which isalmost three times more than the incumbent DSL operator signed in Moscowduring the third quarter of 2006. In January 2007 alone, there have alreadybeen over 20,000 active users of Golden WiFi with approximately 6,000active daily users.
To subscribe to the WiFi network, users register on www.goldenwifi.ru.Subscribers can top up their accounts at over 7,000 locations throughoutMoscow by either purchasing a scratch card or by using cash terminals.These easy, familiar and customer-friendly payment methods will beavailable for different rate plans, depending on customer preferences. Atthe launch of services, an unlimited monthly access rate will be offeredfor 500 rubles, including value added tax, for speeds up to 54Mbps.
Commenting on this event, Jean-Pierre Vandromme, Golden Telecom’s ChiefExecutive Officer, noted, “In 2006, we successfully implemented ourbroadband access rollout strategy and managed to deploy the Golden WiFinetwork in Moscow within a very short period of time. The beta-testingdemonstrated the popularity of these services among consumers. By 2010, weexpect to achieve a significant consumer market share, with approximately300,000 - 400,000 subscribers.”
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 Commonwealth ofIndependent States (”CIS”). The Company offers voice, data and Internetservices to corporations, operators and consumers using its overlay networkin major cities including Moscow, Kiev, St. Petersburg, Nizhniy Novgorod,Samara, Kaliningrad, Krasnoyarsk, Alma-Ata, and Tashkent, as well as leasedchannels and fiber-optic and satellite-based networks, includingapproximately 290 combined access points in Russia and other countries ofthe CIS. The Company offers cellular communication services in Kiev andOdessa.
Statements contained herein are forward-looking and are made in compliancewith safe harbor provisions of the Securities Litigation Reform Act of1995. Such statements include those concerning the launch of Golden WiFi,expected market penetration and operational issues related to Golden WiFi.The results or events predicted in these statements may differ materiallyfrom actual results or events. Such risks and uncertainties include,without limitation, the possibility that we are not able to launch GoldenWiFi in the manner we expect or that we are not able to achieve the marketshare we expect for WiFi customers. Additional information concerningfactors that 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 and2007, and the Company’s annual report on Form 10-K for the year endedDecember 31, 2005.
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