Moscow and New York (September 7, 2006) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), today announced that the Court of Appeals affirmed the June 26, 2006 ruling by the Moscow Arbitration Court in favor of VimpelCom in one of the three lawsuits filed by Telenor East Invest AS. VimpelCom is pleased with the ruling, which once again denies Telenor’s claim to invalidate the decision of VimpelCom’s CEO to complete the acquisition of CJSC “Ukrainian Radio Systems” ("URS"). This is the fourth time that a court has ruled in VimpelCom’s favor on Telenor’s claims challenging the URS acquisition.

Today’s court ruling is subject to further appeal.