VimpelCom's Shareholders Approve Interim Dividends
17 Dec 2009

Moscow and New York (December 17, 2009) - Open Joint Stock Company “Vimpel Communications” (“VimpelCom” or the “Company”) (NYSE: VIP), a leading international provider of telecommunications services operating in Russia, the Commonwealth of Independent States (CIS) and South-East Asia announced that at its Extraordinary General Shareholders Meeting (EGSM) held today in Moscow shareholders approved the payment of an interim cash dividend based on the Company’s operating results for the nine months ending on September 30, 2009. Holders of approximately 82% of the Company’s shares were represented at the EGSM. The shareholders approved a payment of 190.13 rubles per common share (or approximately US $0.32 per American Depositary Share (ADS) based on the Russian Central Bank exchange rate as of December 17, 2009), amounting to a total of approximately RUR 9.75 billion (or approximately US $322.87 million based on the Russian Central Bank exchange rate as of December 17, 2009), to be payable within 60 days of the EGSM. The shareholders also approved a payment of 0.075 kopeck  per type “A” preferred share, amounting to a total of approximately RUR 0.48 million (or approximately US $0.02 million based on the Russian Central Bank exchange rate as of December 17, 2009), to be payable within 60 days of the EGSM. VimpelCom will, in accordance with Russian tax legislation, withhold a tax of up to 15% on the dividend amount when payable.  The exact amount of the withholding will vary depending on the recipient’s legal status and jurisdiction.
 
VimpelCom will submit a copy of the voting results of the EGSM under separate cover of Form 6-K to the U.S. Securities and Exchange Commission and the New York Stock Exchange. The copy of the voting results will be also available at http://vimpelcom.com/investor/materials.wbp

VimpelCom Ltd.

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 (VimpelCom Ltd., MegaFon and Turkcell Iletisim Hizmetleri A.S.). Those assets are in Russia, the CIS and other promising emerging markets.

VimpelCom Ltd. provides voice and data services through a range of wireless, fixed and broadband technologies. VimpelCom Ltd. is headquartered in Amsterdam and has operations in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Georgia, Armenia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Canada, Italy, Pakistan, Burundi, Namibia, Zimbabwe and Central African Republic covering territory with a total population of about 843 million with over 181 mln subscribers. VimpelCom Ltd. operating companies provide services under the "Beeline", "Kyivstar", "Djuice", "Wind", "Infostrada", "Mobilink", "Leo", "Banglalink", "Telecel" and "Djezzy" brands. VimpelCom Ltd. is traded on the New York Stock Exchange under the symbol "VIP". As of 31 December 2010, Altimo owned 44.65% of the voting shares of VimpelCom Ltd. (since June 2011 -  24.99%).

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