OREANDA-NEWS. December 4, 2007. Open Joint Stock Company “Vimpel-Communications” (“VimpelCom”) (NYSE: VIP) and Golden Telecom, Inc. (“Golden Telecom”) (NASDAQ: “GLDN”) today issued the following joint statement:

VimpelCom and Golden Telecom confirm that they currently are in discussions regarding the potential acquisition of all of the outstanding shares of Golden Telecom by a subsidiary of VimpelCom at a price per share of $105 in cash, subject to negotiation and execution of a definitive acquisition agreement and final approval of their respective Boards of  Directors and the special independent committees thereof.
 
There can be no assurance that the discussions will lead to a definitive agreement or that a transaction will be consummated.  VimpelCom and Golden Telecom do not intend to make any further comment or to respond to any inquiries until either a definitive agreement has been reached or discussions have been terminated.