Propel Wins Russia-On-Line, the Largest ISP in Russia

Russian Federation’s Largest ISP is First to Offer Accelerated Services

SANTA CLARA, Calif. ISPCON Fall 2005, Booth #507, October 19, 2005 – Propel Software Corporation (www.propel.com), a market leader in Internet acceleration solutions, today announced that it has signed an agreement with Russia-On-Line (ROL), Russia's largest dial-up Internet service provider and a subsidiary of Golden Telecom (NASDAQ: GLDN). ROL is the first Russian ISP to offer accelerated services and will deliver Propel Accelerator to its customers, improving their Web and email experience.

The company began offering consumer Internet services in 1995 under the trademark Russia-On-Line, which was changed to ROL in 2001. Today, ROL provides dial-up Internet access in more than 50 cities in Russia and the Commonwealth of Independent States and serves approximately 400,000 subscribers. In 2004, Golden Telecom and ROL were recognized as the best RUNET (Russian Internet) provider by the Federal Agency for the Press and Mass Communications.

“ROL is continually seeking to improve its quality of service and employ the latest innovations to our customers, such as Propel Accelerator,” said Dmitry Bragin, Director of ROL and Vice President of Golden Telecom, Inc. “With Propel Accelerator, we’re able to offer our existing customers a more joyful Internet and email experience and deliver valuable services that will drive ROL’s future expansion, a key component of our continued success.”

Propel Accelerator is an award-winning Internet acceleration product that provides a high-speed experience for users of 802.11 hotspots, wireless mobile data, low-speed broadband and dial-up connections. It is currently deployed by hundreds of ISPs and other Propel users in more than 75 countries, making available an improved Internet experience to more than 34 million subscribers.

“ROL is an acknowledged leader in providing Internet services to its customers,” said Steve Kirsch, CEO of Propel. “With over 90 percent of Russian Internet subscribers relying on dial-up connections in most regions, ROL’s selection of Propel Accelerator will be an immediate benefit to a large number of their subscribers and deliver a greatly improved Internet experience.”

About Golden Telecom

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 233 combined access points in Russia and other countries of the CIS. The Company offers mobile services in Kiev and Odessa.

ROL™ (a registered trade mark of the Golden Telecom group) is a national ISP providing dial-up Internet access services in over 50 cities in Russia and the CIS, as well as global roaming services in 150 countries of the world. The number of active ROL users is approximately 400,000. ROL owns popular Russian Internet resources, such as the Aport search engine www.aport.ru, the Omen entertainment portal omen.ru, the ROL Internet magazine www.rol.ru, an essays bank www.referat.ru, and other popular Internet sites and resources.

Golden Telecom, Inc.
Public relations: Anna Chin Go Pin. e-mail: achin@gldn.net tel.: +7-095-797-9300
Investor Relations: Ranjit Singh e-mail: ir@gldn.net tel.: +7-095-797-9300
http://www.goldentelecom.ru

About Propel

Propel Software Corporation provides Internet Service Providers’ (ISPs) subscribers with solutions that improve their Internet experience. Using patent-pending technology, Propel Accelerator is an award-winning Internet acceleration product that provides a high-speed experience for users of 802.11 hotspots, wireless mobile data, low-speed broadband and dial-up connections. Propel Accelerator is deployed by hundreds of ISPs and other Propel users in more than 75 countries, making available an improved Internet experience to more than 34 million subscribers. Acceleration solutions from Propel provide a new source of revenue to ISPs that fuels new customer acquisitions and aids in reducing customer churn. Founded in 1999 by technology innovator Steve Kirsch, who also founded Infoseek and Frame Technology, Propel is a leading Internet acceleration solution provider. For more information, contact Propel Software Corporation, 1010 Rincon Circle, San Jose, CA 95131 USA, 408-571-6300 or visit its Web site at www.propel.com.

Propel® and the Propel logo are registered trademarks and Propel® Accelerator, Propel® Complete, Propel® Acceleration Server™ are trademarks of Propel Software Corporation in the United States and/or other countries. All other trademarks shown are the property of their respective owners.