ARKA News Agency, Armenia
June 23 2006

VIMPELCOM AND MTS AMONG FOUR COMPETITORS FOR PURCHASE OF ARMENTEL
ARMENIAN TELECOMMUNICATION COMPANY

YEREVAN, June 23. /ARKA/. Vimpelcom (the trademark of Bee Line)
and MTS are among the four competitors for purchase of ArmenTel
Armenian Telecommunication Company, the major owner of ArmenTel –
Organization of Telecommunications of Greece (OTE) announced, as
reported by RIA Novosty.

"OTE received 10 offers for purchase of 90% of ArmenTel’s shares
that OTE owns. After the offers were reviewed, Vimpelcom, MTS,
ETISALAT/Istithmar/ETV consortium and VTEL Holdings/Knightsbridge
Associates consortium will be invited for the next round of the
competition," OTE reports.

ArmenTel has the biggest number of customers in Armenia, being the
monopolist of the fixed telephone network and one of the two cell-phone
operators of the country. The company’s 10% shares are held by the
Armenian government. Its turnover in 2005 reached EUR 110mln.

The tender for purchase of the 90% shares of ArmenTel was announced
by OTE in April 2006. Vimpelcom and MTS declared their intention to
participate in it at the beginning of June.

The results of the tender are expected to be available after July 20.

R.O. –0–