NetCracker Signs Deal With Golden Telecom

NetCracker Technology announced today that the company has been
selected by Golden Telecom, Inc. (NASDAQ:GLDN) to help streamline the
operator's back office operations and service provisioning processes.
The agreement makes NetCracker a part of Golden Telecom's project
aimed at building a single homogeneous network information system.
Golden Telecom 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).

By deploying NetCracker's OSS solution, Golden Telecom will gain
up-to-date knowledge and access to its network infrastructure.
NetCracker's Network Inventory System will help Golden Telecom
consolidate its data related to network resources and services and
support the planning and analysis of physical and logical resources.
Additionally, this OSS solution will allow improving the efficiency of
network troubleshooting and capacity management.

NetCracker was chosen after an extensive due diligence process,
which focused on software architecture, product functionality, and
performance metrics, as well as the ability of Golden Telecom's
potential partner to support the operator's unique requirements. At
the end of the evaluation process, NetCracker was chosen due to its
clear understanding of Golden Telecom's needs and the strength of the
proposed solution, which includes both NetCracker's products and
services.

"NetCracker is honored to be a key part of Golden Telecom's OSS
transformation activities," said Andrew Feinberg, President and CEO of
NetCracker Technology. "We are looking forward to developing a
mutually beneficial, long-term partnership with Golden Telecom."

About NetCracker Technology

NetCracker Technology is the leading global Solution Company
enabling Service Providers to rapidly deliver and effectively manage
convergent and content-rich offerings. NetCracker delivers service and
resource management through its software and implementation expertise.
NetCracker's pre-integrated product modules include Service Inventory,
Resource Inventory, Service Provisioning & Activation, Discovery &
Reconciliation, Design and Planning, Customer Impact Analysis, Outside
Plant, Order Management, Asset Management, and Telecom Cost
Management. Founded in 1993, NetCracker Technology is headquartered in
Waltham, MA, and can be reached at 1-781-419-3300 or
www.netcracker.com.

NetCracker is a registered trademark of NetCracker Technology
Corp. All other company or product names mentioned in this press
release may be trademarks or registered trademarks of the respective
companies of which they are associated.

About Golden Telecom (www.goldentelecom.ru)

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 voice,
data, and Internet services to corporations, operators, and consumers
using its metropolitan overlay network in major cities including
Moscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara, Kaliningrad,
Krasnoyarsk, Almaty, and Tashkent, and via intercity fiber optic and
satellite-based networks, including approximately 287 combined access
points in Russia and other countries of the CIS. The Company offers
mobile services in Kiev and Odessa.