Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Sunbird LTD
   2. Issuer Name and Ticker or Trading Symbol
GOLDEN TELECOM INC [GLDN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
THEMISTOKLES DERVIS STREET, 5, ELENION BUILDING, 2ND FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
02/18/2008
(Street)

NICOSIA, G4 1066		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock (1) (2) 02/18/2008   U   10,731,707 D $ 105 0 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Sunbird LTD
THEMISTOKLES DERVIS STREET, 5
ELENION BUILDING, 2ND FLOOR
NICOSIA, G4 1066		     X    
Yieldcare LTD
THEMISTOKLI DERVI STREET, 5
ELENION BUILDING, 2ND FLOOR
NICOSIA, G4 1066		     X    
CTF HOLDINGS LTD
SUITE 2, 4 IRISH PLACE
GIBRALTAR, J1 00000		     X    
CROWN FINANCE FOUNDATION
AM SCHRAGEN WEG 14, P.O. BOX 1618
VADUZ, N2 FL-9490		     X    
ALTIMO HOLDINGS & INVESTMENTS LTD.
TRIDENT CHAMBERS,
P.O. BOX 659, ROAD TOWN
TORTOLA, D8 00000		     X    

Signatures

 By: /s/ Stella Herodotou/Charalambos Michaelides Name, Title: Stella Herodotou, Director/Charalambos Michaelides, Director   02/20/2008
**Signature of Reporting Person Date
 By: /s/ Stella Raouna, Director   02/19/2008
**Signature of Reporting Person Date
 /s/ Franz Wolf, Director   02/19/2008
**Signature of Reporting Person Date
 /s/ Franz Wolf, Attorney-in-fact   02/19/2008
**Signature of Reporting Person Date
 /s/ Franz Wolf, Director   02/19/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The 10,731,707 shares of common stock, par value $0.01 per share (the "Common Stock") of Golden Telecom, Inc. (the "Issuer") that are the subject of this report were directly owned by Sunbird Limited ("Sunbird") and tendered by Sunbird to Lillian Acquisition, Inc. (the "Purchaser") in accordance with the instructions described in the Offer to Purchase dated January 18, 2008 and in the related Letter of Transmittal filed as exhibits to a combined Schedule TO and Schedule 13E-3 filed by the Purchaser and other related parties with the United States Securities and Exchange Commission on January 18, 2008, as amended (the "Tender Offer"). On February 18, 2008 the Purchaser announced it had accepted all such tendered shares of Common Stock in accordance with the terms of the Tender Offer.
(2) This form is a joint filing. Sunbird is a direct wholly owned subsidiary of Yieldcare Limited ("Yieldcare"). Altimo Holdings & Investments Ltd. ("Altimo") is the sole shareholder of Yieldcare. CTF Holdings Limited ("CTF Holdings") is the majority owner of Cotesmore Holdings Limited, a Bahamas corporation ("Cotesmore"), Laketown Services Limited, an Isle of Man corporation ("Laketown"), and Bardsley Investment Corp., a British Virgin Islands corporation ("Bardsley" and, together with Cotesmore and Laketown, the "Holding Companies"). Collectively, the Holding Companies own a majority of the shares of Altimo. Crown Finance is the sole shareholder of CTF Holdings.

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