Alexei Reznikovich Elected VimpelCom’s Chairman of the Board of Directors
11 Jun 2008

Moscow and New York (June 11, 2008) - Open Joint Stock Company “Vimpel-Communications” (“VimpelCom” or the “Company”) (NYSE: VIP) today announced that Alexei Reznikovich was elected Chairman of the Board of Directors at a meeting of VimpelCom's Board of Directors held today. It was the first meeting of the new Board of Directors elected at the annual general meeting of VimpelCom’s shareholders held in Moscow on June 9, 2008.

Mr. Reznikovich said "I am grateful to my colleagues for their trust and I look forward to working with my fellow Board members and VimpelCom's management to continue VimpelCom's long tradition of excellent performance, strong corporate governance and creating value for VimpelCom shareholders."

Alexei Reznikovich has served as a Director of VimpelCom since May 2002. He was Chairman of the Board of Directors of Golden Telecom from May 2007 to February 2008. Since June 2005, Mr. Reznikovich has served as Chief Executive Officer of Altimo, which was created in 2005 to manage the telecoms investments of Alfa Group. He has also served as a Director of Alfa Group since 2002. Before joining Alfa, Mr. Reznikovich founded “EMAX,” a business venture to develop internet centers in Russia, and was a member of the Boards of Directors of “EMAX” and “CAFEMAX,” an internet cafe chain, since February 2001. From 1998 through 2001, Mr. Reznikovich was a partner at McKinsey & Co., and prior to that he worked at Procter & Gamble in Italy and Transworld in the U.S. Mr. Reznikovich graduated from the Economics Faculty of Moscow State University and received an MBA from Georgetown University in USA and INSEAD in France in 1993.

VimpelCom

Altimo, a leading private equity group, operating on some of the world's most desirable and potentially lucrative mobile telecommunications markets, was created in 2005 from Alfa Telecom, which itself was established in 2004 to hold the telecoms investments of the Alfa Group Consortium (Golden Telecom, Inc., Turkcell Iletisim Hizmetleri A.S., Kyivstar GSM, MegaFon, VimpelCom, Sky Mobile). Those assets are in Russia, the CIS and other promising emerging markets.

VimpelCom consists of telecommunications operators providing voice and data services through a range of wireless, fixed and broadband technologies. The Group includes companies operating in Russia, Kazakhstan, Ukraine, Uzbekistan, Tajikistan, Georgia and Armenia, in territories with a total population of about 340 million. The Group companies provide services under the "Beeline" brand.  VimpelCom was the first Russian company to list its shares on the New York Stock Exchange (under the symbol "VIP").  In Q1 2008, VimpelCom acquired 100% of the oustanding share capital of Golden Telecom, a leading facilities-based provider of integrated telecommunications and Internet services in Russia and the CIS.

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