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13 May 1999

Announcement of State Registration of Securities Issuance

Is a copy of an English translation of an announcement published on May 12, 1999 in Issue No. 34-35 of the Russian Federation Federal Commission on Securities Market's bulletin ("Vestnik").
Russian securities regulations require Open Joint Stock Company "Vimpel-Communications" (the "Company") to publish such an announcement regarding the Russian Federation Federal Commission on Securities Market's registration of the Company's decision on issuance of securities to Telenor East Invest AS.

Open joint stock company Vimpel-Communications 10-14 Ul. 8 Marta, Moscow 127083

Announcement of State Registration of Securities Issuance

Full name of the issuer: Open Joint Stock Company "Vimpel-Communications";

Type (shares, bonds, other securities), category (type) and form of securities: non-documentary common registered shares;

Name of the registration authority which effected the state registration of the securities issuance, state registration number of the issuance and the date of state registration: Federal Commission for the Securities Market, state registration number: 1-06-00027-A, date of state registration: April 26, 1999;

Number of securities to be placed: eight million nine hundred two thousand two hundred one (8,902,201) common registered shares;

Entities to which securities shall be placed: the shares shall be placed to "Telenor East Invest AS", Norway;

Time period and other terms of securities placement:
Placement commencement date: on the business day following the date of state registration of the decision on securities issuance;
Completion date for placement of securities: the earlier of (i) the date when all common registered shares of this issuance are placed and (ii) the date of receipt of a written refusal of Telenor East Invest AS to purchase all or a portion of shares of Open Joint Stock Company "Vimpel-Communications", but in any case no later than one year from the date of approval by the Board of Directors of Open Joint Stock Company "Vimpel-Communications" of the decision on issuance of securities (date of approval is January 29, 1999);

Method of placement: closed subscription;

Place of sale of securities: 10-14 Ul. 8 Marta, Moscow 127083.

 

President and Chief Executive Officer of
Open Joint Stock Company
"Vimpel-Communications"

D.B. Zimin

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