Moscow and New York (June 5, 2007) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), today announced that the Supreme Arbitration Court of Russia has ruled in favor of VimpelCom in one of the lawsuits filed by Telenor East Invest AS.  We are pleased with the court’s decision which upheld the validity of the September 2005 shareholder vote which approved the acquisition of CJSC "Ukrainian Radio Systems" ("URS") as an interested party transaction.

Today’s ruling is final and may not be appealed.

With today’s ruling, VimpelCom has now conclusively won two of the three lawsuits brought by Telenor East Invest AS in connection with the acquisition of URS.  The remaining lawsuit brought by Telenor East Invest AS to declare invalid and unwind the URS transaction was won by VimpelCom in the lower court and has been appealed by Telenor.  The appeal is scheduled to be heard by the Court of Appeals on June 25, 2007.  VimpelCom will continue to vigorously defend its position in this lawsuit.

The VimpelCom Group includes companies operating in Russia, Kazakhstan, Ukraine, Uzbekistan, Tajikistan, Georgia and Armenia.  The VimpelCom Group's GSM and 3G license portfolio covers a territory with a population of about 250 million.  This includes the entire territories of Russia, Kazakhstan, Ukraine, Uzbekistan, Tajikistan, Georgia and Armenia.  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".