Amsterdam and New York (November 15, 2010) – VimpelCom Ltd. (“VimpelCom” or the “Company”) (NYSE: VIP), a leading international provider of telecommunications services, announced that today its Supervisory Board declared the payment of an interim dividend of US$0.46 per American depositary share (“ADS”) amounting to a total interim dividend payment of approximately US$600,000,000.  Each ADS represents one common share.  The interim dividend is being paid in accordance with VimpelCom’s dividend policy and takes into account the results of the Company’s Russian subsidiary, OJSC “Vimpel-Communications”, for the last three months of 2009.

The record date for the Company’s shareholders entitled to receive interim dividends has been set for November 29, 2010.  The Company will make appropriate tax withholdings of up to 15% when the dividend is paid to the Company’s ADS depositary, The Bank of New York Mellon.  The dividend will be paid by the Company before December 31, 2010.

 Commenting on today’s announcement, Alexander Izosimov, Chief Executive Officer of VimpelCom, said, “We are pleased to announce this interim dividend, which underscores our commitment to the payment of regular and meaningful dividends to our shareholders. The strength and consistency of our cash flows allows us the financial flexibility to continue returning value to shareholders, while investing in the longer-term growth and development of our business.”