Company profile

VimpelCom is a leading provider of cellular telecommunications services in Russia, operating under the "Bee Line" brand name, one of the most recognized brand names in the Russian cellular telecommunications industry. VimpelCom prides itself on its dedication and commitment to its subscribers, its high quality of cellular services and its expansive licensed territory, which continued to grow in 1998.

As a pioneer in the Russian cellular communications industry, VimpelCom introduced the AMPS/D-AMPS and GSM-1800 standards to Russia, leading the conversion of military and avionics frequencies into commercial use frequencies. VimpelCom again is at the forefront of technology, developing one of the world's first dual band GSM-900/1800 networks in the Moscow market.

VimpelCom's primary market is the City of Moscow and the surrounding Moscow Region, an area covering a population of over 15 million. In Moscow, VimpelCom estimates that as of December 31, 1998, its subscriber market share was approximately 44% and its subscriber base was over 124,000. VimpelCom's licensed territory (including licenses under which VimpelCom has not yet commenced operations) covers a total population of approximately 100 million people, or approximately 70% of the Russian population.

VimpelCom completed its IPO in November 1996 and its ADSs are listed on the New York Stock Exchange (NYSE) under the symbol "VIP". VimpelCom was the first and is currently one of only three Russian companies listed on the NYSE.

VimpelCom continues to expand its cellular communications and other telecommunications services with the objective of creating long term growth and value for its shareholders.