Moscow and New York (December 15, 2005) - Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP) is pleased to announce that once again it was named the winner of the Best IR by a Russian Company Award at the IR Magazine Continental Europe Conference and Awards 2005 held on November 30, 2005 in Vienna, Austria. The IR Magazine awards are recognized worldwide as among the most accurate and reliable measures of excellence and accomplishment in the fields of investor relations and corporate governance. IR Magazine commissions an independent research survey covering a broad cross-section of the Continental European investment community. The target group, consisting of more than 500 buy-side analysts, sell-side analysts and portfolio managers, has been interviewed to provide a comprehensive insight into current investor sentiment toward IR issues in the Continental European market.

"It was a great honor for us to win again, for the third consecutive year, this prestigious award from a well-respected publication such as IR Magazine," said Alexander Izosimov, Chief Executive Officer of VimpelCom. "We pride ourselves on the open and transparent manner in which our company operates and are grateful to see that the efforts we have undertaken at VimpelCom to protect the rights and interests of all our shareholders are being recognized by the international financial community."