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15 Aug 2005

VimpelCom notified that Eco Telecom will not attend today's Extraordinary Shareholder Meeting and will convene Rescheduled Shareholder Meeting

Moscow and New York (August 15, 2005) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP) announced that it has received notice from Eco Telecom Limited ("Eco Telecom"), a part of the Alfa group of companies, that it does not intend to attend the Extraordinary General Meeting of Shareholders of the Company (the "EGM") scheduled for today which it convened. Furthermore, VimpelCom was informed that Eco Telecom intends to convene a rescheduled Extraordinary General Meeting of Shareholders of the Company (the "Rescheduled EGM"), with the same agenda as the EGM scheduled for today, namely, the acquisition of Closed Joint Stock Company "Ukrainian Radio Systems" as an interested party transaction. Eco Telecom will convene the Rescheduled EGM on September 14, 2005 with a record date of July 12, 2005.

VimpelCom is a leading international provider of telecommunications services, operating under the "Beeline" brand in Russia and Kazakhstan. In addition, VimpelCom is continuing to use the "K-mobile" and "EXCESS" brands in Kazakhstan. The VimpelCom Group's license portfolio covers approximately 94% of Russia's population (136.5 million people), including the City of Moscow, the Moscow Region and the City of St. Petersburg as well as the entire territory of Kazakhstan. VimpelCom was the first Russian company to list its shares on the New York Stock Exchange ("NYSE"). VimpelCom's shares are listed on the NYSE under the symbol "VIP".

 

This press release contains "forward-looking statements", as the phrase is defined in Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements relate to the EGM and the Rescheduled EGM. Certain factors that could cause actual results to differ from those discussed in these forward-looking statements include the risks described in the Form 6-K dated July 12, 2005 submitted by the Company to the United States Securities and Exchange Commission, which risk factors are incorporated herein by reference. Certain additional factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risks described in the Company's Annual Report on Form 20-F for the year ended December 31, 2004 and other public filings made by the Company with the United States Securities and Exchange Commission, which risk factors are incorporated herein by reference. VimpelCom disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained in this press release, or to make corrections to reflect future events or developments.

 

For more information, please contact:

 

Valery Goldin
VimpelCom (Moscow)
Tel: 7(495) 974-5888
Investor_Relations@VimpelCom.com
Ian Bailey/Michael Polyviou
Financial Dynamics
Tel: 1(212) 850 5600
mpolyviou@fd-us.com



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