Stock Trading History of Herman David

The following table details the trading activities (stock purchases, stock sales, and stock option exercises) reported to the Securities and Exchange Commission (SEC) by insider Herman David since year 2005. The trader's CIK number is 1252620. At the time of this reporting, Herman David is the Director of Golden Telecom Inc (stock ticker symbol GLDN).

Stock purchases, sales, and option exercises reported by *Herman David* since 2005.
Trade Date	Symbol	Company Name (Issuer)	Trade Type	Shares	Price ($)	Value ($)
2007-03-22	GLDN	Golden Telecom Inc	Sale	3,600	56.03	201,703
2007-03-22	GLDN	Golden Telecom Inc	Option Exercise	3,600	19.45	70,020
2007-03-22	GLDN	Golden Telecom Inc	Sale	6,300	55.92	352,312
2007-03-22	GLDN	Golden Telecom Inc	Option Exercise	6,300	19.45	122,535
2007-03-22	GLDN	Golden Telecom Inc	Sale	5,100	56.29	287,074
2007-03-22	GLDN	Golden Telecom Inc	Option Exercise	5,100	25.80	131,558

Insider trading activities including stock purchases, stock sales, and option exercises listed in the above table cannot be completely guaranteed as to their accuracy. For more information regarding the trades made by Herman David (Director of Golden Telecom Inc at the time of this reporting) see the Securities and Exchange Commission (SEC) website.