THIRD MOBILE OPERATOR TO APPEAR IN ARMENIA BY 2009

Arka News Agency, Armenia
Nov 8 2006

YEREVAN, November 8. /ARKA/. The third mobile telecommunications
operator will appear in Armenia by 2009, Andranik Manukyan told
reporters Wednesday. He explained that the government has made
a commitment that it will not grant a license to a new operator
until 2009.

"The Armenian market of mobile communications is so small that two
operators fully share it," the minister said.

The Russian VimpelCom OJSC (Beeline brand) signed an agreement with the
Greek Hellenic Telecommunications Organization SA (OTE) on purchasing
90% shares of the Armenian ArmenTel Company for EUR 341.9mln.

According to the report by VimpelCom, the company will take the debts
and liabilities of ArmenTel for about EUR 40mln.

ArmenTel Company is one of the two mobile operators in Armenia. It has
the biggest number of subscribers in Armenia. The company holds 40%
of the mobile communications market of Armenia.

In July 1, 2005, the second mobile operator K-Telecom of VivaCell
brand entered the Armenian market of mobile communications.