VimpelCom's Board of Directors Recommends Interim Dividend Payment

MOSCOW and NEW YORK, Nov. 2 /PRNewswire-FirstCall/ -- Open Joint Stock Company
"Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP) today
announced that its Board of Directors (the "Board") approved convocation of an
Extraordinary General Meeting of Shareholders of the Company to vote on an
interim dividend payment based on the operating results for the nine months
ending on September 30, 2009 (the "Shareholders Meeting"). The Shareholders
Meeting will be held on December 17, 2009.

The Board recommended that the Shareholders Meeting approve interim dividends
based on the operating results for the nine months ending on September 30,
2009 (calculated in accordance with Russian statutory accounting principles)
in the amount of RUR 190.13 per common share of VimpelCom stock (or
approximately US$0.32 per American Depositary Share ("ADS") based on the
Russian Central Bank exchange rate as of September 30, 2009), amounting to a
total of approximately RUR 9.75 billion (or approximately US$324 million based
on the Russian Central Bank exchange rate as of September 30, 2009), to be
payable within 60 days of the approval at the Shareholders Meeting. The
record date for the Company's shareholders entitled to participate in the
Shareholders Meeting and to receive interim dividends has been set for
November 12, 2009. The approval of the shareholders owning more than 50% of
the voting shares represented at the Shareholders Meeting is required for the
payment of dividends by VimpelCom. If the dividends are approved by the
requisite majority at the Shareholders Meeting, 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.

Further details on the agenda and other issues related to the Shareholders
Meeting will be made available through an official notice to be distributed by
VimpelCom to its shareholders prior to the Shareholders Meeting.

The VimpelCom Group consists of telecommunications operators providing voice
and data services through a range of mobile, fixed and broadband technologies.
The VimpelCom Group includes companies operating in Russia, Kazakhstan,
Ukraine, Uzbekistan, Tajikistan, Georgia, Armenia, 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".

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 proposed payment of dividends. There can
be no assurance that the dividends will be approved by the requisite majority
at the Shareholders Meeting. 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, 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. The
Company 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 of VimpelCom (Moscow), +7-495-974-5888,
Investor_Relations@vimpelcom.com; or Mateo Millett of FD, +1-617-897-1533,
mateo.millett@fdashtonpartners.com