VimpelCom shareholders elect new board
23 Jun 2006

Moscow and New York (June 23, 2006) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), today announced that its shareholders, at its Annual General Meeting of Shareholders (AGM) held today in Moscow, Russia, approved all items on the agenda and elected a new Board of Directors.  Holders of approximately 71% of our shares were represented at the AGM.

The new Board of Directors of VimpelCom consists of: 

David J. Haines (Chairman of the Board of Directors of VimpelCom since July 2005, CEO of GROHE Water Technology)
Mikhail M. Fridman (Chairman of the Supervisory Board of the Consortium Alfa Group, a director of VimpelCom since July 2001)
Arve Johansen (Senior Executive Vice President of Telenor, a director of VimpelCom since June 2003)
Jo Lunder (Chief Executive Officer of Ementor ASA, a director of VimpelCom since May 2002 and formerly served as the CEO of VimpelCom and Chairman of the Board of Directors)
Oleg A. Malis (Vice President of Altimo, a new director of VimpelCom)
Leonid R. Novoselsky (General Director of OOO GK Gradient, a new director of VimpelCom)
Alexey M. Reznikovich (CEO of Altimo, a director of VimpelCom since May 2002)
Fridtjof Rusten (Senior Vice President of Telenor, a director of VimpelCom since June 2005)
Henrik Torgersen (Executive Vice-President of Telenor, a director of VimpelCom since January 1999)

VimpelCom will submit a copy of the results of the AGM under separate cover of Form 6-K to the U.S. Securities and Exchange Commission and the New York Stock Exchange.  An electronic copy of the results of the AGM will be available for review on VimpelCom's web site in the "SEC Filings" section.

VimpelCom is a leading international provider of mobile telecommunications services in Russia and Kazakhstan, with newly acquired operations in Ukraine, Tajikistan and Uzbekistan.  The VimpelCom Group's license portfolio covers approximately 232 million people.  Geographically it covers 78 regions in Russia (with 136.5 million people, representing 94% of Russia's population) as well as the entire territories of Kazakhstan, Ukraine, Tajikistan and Uzbekistan.  VimpelCom was the first Russian company to list its shares on the New York Stock Exchange ("NYSE").  VimpelCom's ADSs are listed on the NYSE under the symbol "VIP".

For more information, please contact:

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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