VIMPELCOM BIDS FOR ARMENIA MOBILE OPERATOR ARMENTEL

RIA Novosti, Russia
June 7 2006

MOSCOW, June 7 (RIA Novosti) – VimpelCom (RTS: VIMP) has tabled a
bid for a 90% stake in Armenia’s leading cell operator ArmenTel,
Russia’s no.2 mobile phone company said Wednesday.

Greek company OTE (Hellenic Telecommunications Organizations SA)
said in April it was planning to sell the stake.

“We will take part in the first stage of the tender,” said VimpelCom
spokesperson Yulia Ostroukhova. “But we are not going to reveal any
details until the tender results are announced.”

Russia’s telecommunications company AFK Sistema (RTS: AFKS; LSE: SSA)
is also bidding for ArmenTel, the company’s chief executive Vladimir
Yevtushenkov said.

The Armenian government holds 10% in ArmenTel, which with about
330,000 users counts just over a tenth of the population as its
clients, as of late March 2006.