VimpelCom Announces ADR Ratio Change
08 Aug 2007

Moscow and New York (August 8, 2007) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), today announced a change in the ratio of its American Depositary Receipts (ADRs) traded on the New York Stock Exchange.

Since VimpelCom’s last ratio change in November 2004, VimpelCom's price per ADR has risen from approximately US $40 to over US $100. In order to bring the ADR price more into line with ADRs of comparable companies, VimpelCom will change the ratio from four ADRs for one common share to 20 ADRs for one common share effective August 21, 2007. To implement the ratio change, VimpelCom ADR holders of record at the close of business on August 17, 2007 will receive four additional ADRs for every ADR held. The distribution date to ADR holders is August 21, 2007. There will be no change to VimpelCom's underlying common shares.

Commenting on today's announcement, Alexander Izosimov, Chief Executive Officer of VimpelCom, said: "VimpelCom's ADR ratio change demonstrates our commitment to making the Company’s shares accessible to the broadest investment community, including to retail shareholders. The outstanding performance of the Company’s stock required changing the ADR ratio to ensure a broadly accessible and liquid market for the Company’s shares".

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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