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THE DISCLAIMERS SET FORTH BELOW ARE IN ADDITION TO ANY DISCLAIMERS OR OTHER CAUTIONARY STATEMENTS CONTAINED ELSEWHERE ON THE GOLDEN TELECOM WEBSITE. GOLDEN TELECOM MAY REVISE THE FOLLOWING DISCLAIMERS AT ANY TIME AND WITHOUT NOTICE BY UPDATING THIS PAGE

Certain information included in the Golden Telecom website, including anticipated growth for the Company, and the markets and countries in which we operate, the expected benefits of the integration of Comincom/Combellga into our operations, is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price and product competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Golden Telecom to make acquisitions and/or integrate the operations, personnel and technologies of acquired businesses in an effective manner; regulatory, political or economic changes in the markets in which we operate; general industry conditions and growth rates; international growth and global economic conditions; uncertainties of the Internet; stock market volatility. The information contained in this website is current as of the posting date or as of the document date, which is earlier. Golden Telecom disclaims any intention or obligation to update or revise any forward-looking statement whether as a result of new information, future events or otherwise. Golden Telecom does not assume any duty of disclosure beyond that which is required by law. For Golden Telecom's official investor disclosure documents please see the reports filed by Golden Telecom with the United States Securities and Exchange Commission at the SEC Reports section.

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