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17 Dec 2009

VimpelCom Shareholders Approve Interim Dividends

Moscow and New York (December 17, 2009) - Open Joint Stock Company “Vimpel-Communications” (“VimpelCom” or the “Company”) (NYSE: VIP), a leading international provider of telecommunications services operating in Russia, the Commonwealth of Independent States (CIS) and South-East Asia announced that at its Extraordinary General Shareholders Meeting (EGSM) held today in Moscow shareholders approved the payment of an interim cash dividend based on the Company’s operating results for the nine months ending on September 30, 2009.    Holders of approximately 82% of the Company’s shares were represented at the EGSM.  The shareholders approved a payment of 190.13 rubles per common share (or approximately US$0.32 per American Depositary Share (ADS) based on the Russian Central Bank exchange rate as of December 17, 2009), amounting to a total of approximately RUR 9.75 billion (or approximately US$322.87 million based on the Russian Central Bank exchange rate as of December 17, 2009), to be payable within 60 days of the EGSM. The shareholders also approved a payment of 0.075 kopeck  per type “A” preferred share, amounting to a total of approximately RUR0.48 million (or approximately US$0.02 million based on the Russian Central Bank exchange rate as of December 17, 2009), to be payable within 60 days of the EGSM. VimpelCom will, in accordance with Russian tax legislation, withhold a tax of up to 15% on the dividend amount when payable.  The exact amount of the withholding will vary depending on the recipient’s legal status and jurisdiction.

VimpelCom will submit a copy of the voting results of the EGSM under separate cover of Form 6-K to the U.S. Securities and Exchange Commission and the New York Stock Exchange. The copy of the voting results will be also available at http://www.vimpelcom.com/Investor-relations/

The VimpelCom Group consists of telecommunications operators providing voice and data services through a range of mobile, fixed and broadband technologies. The Group includes companies operating in Russia, Kazakhstan, Ukraine, Uzbekistan, Tajikistan, Georgia and Armenia, as well as in Vietnam and Cambodia. The VimpelCom Group has licenses to operate 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 ("NYSE"). VimpelCom's ADRs are listed on the NYSE under the symbol "VIP".

For more information, please contact:

 

Alexey Subbotin
VimpelCom
Tel: 7-495-974-5888
Investor_Relations@vimpelcom.com

Mateo Millett 
FD
Tel: Tel: 1-617- 897-1533

mateo.millett@fdashtonpartners.com  

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