VimpelCom Launches Operations in Cambodia

MOSCOW and NEW YORK, May 18 /PRNewswire-FirstCall/ -- Open Joint Stock Company
"Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), the
leading provider of telecommunications services in Russia and the Commonwealth
of Independent States (CIS), today officially announced the commercial launch
of mobile operations in the Kingdom of Cambodia. Mobile services were
launched under VimpelCom's "Beeline" brand via its subsidiary Sotelco LTD.

"The commercial launch in Cambodia is the first launch by a Russian mobile
operator under its own brand outside of Russia and the CIS. The Cambodian
launch is an important stage in VimpelCom's international development," - said
Vladimir Riabokon, Executive Vice President of VimpelCom.

During the first stage Beeline services will be available in the 11 largest
provinces of the Kingdom of Cambodia with 37% of the country's population. By
the end of 2009, the company plans to provide coverage to an area with more
than two thirds of the country's population.

***

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, Armenia, as well as Vietnam and Cambodia, in
territories with a total population of about 340 million. VimpelCom was the
first Russian company to list its shares on the New York Stock Exchange
("NYSE"). VimpelCom's ADSs are listed on the NYSE under the symbol "VIP".

***

Sotelco LTD is a subsidiary of the VimpelCom Group. In July 2008 VimpelCom
announced that it has acquired a 90% stake in the Cambodian company Sotelco,
which holds a GSM 900/1800 license and related frequencies for the territory
of Cambodia. The transaction was consummated through the purchase of 90% of
Sotelco's parent company, Atlas Trade Limited, for US$28 million. The
remaining 10% of Atlas will stay with a local partner, a Cambodian
entrepreneur. VimpelCom has also acquired a call option to purchase the 10%
interest of the local partner for market value at the date of exercise of the
option.

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 anticipated schedule for developing our
network in Cambodia. Actual timing may differ materially from that described
in such forward-looking statements as a result of various factors, including
continued volatility in the economies in the markets in which the Company
operates and unforeseen developments in competition, or current or future
changes in the political, economic and social environment or current or future
regulation of the Cambodian telecommunications industries. Additional
information concerning factors that could cause results to differ materially
from those in the forward-looking statements is contained in VimpelCom's
public filings with the SEC, including VimpelCom's annual report on Form 20-F
for the year ended December 31, 2008 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.

SOURCE Vimpel-Communications

Alexey Subbotin, VimpelCom, 7(495) 910-5977, Investor_Relations@vimpelcom.com;
or Mateo Millett, FD, +1-617-897-1533, mateo.millett@fdashtonpartners.com