"VIMPELCOM" "IS NOT AT ALL CONFUSED" BY THE FACT THAT "ARMENTEL" HAS LOST THE LEADERSHIP ON THE ARMENIAN MOBILE MARKET

Banks.am, Armenia
Dec 28 2006

Yerevan, December 28 /Mediamax/. Executive Vice-President of
"VimpelCom" for Business Development in the CIS states Sergey Avdeev
stated that the company is examining the situation in the "ArmenTel"
Company and is thinking over the prospect of convergence of services.

Mediamax reports that Sergey Avdeev noted that "ArmenTel" dominates on
the market of fixed communication, at that, the mobile communication
is in many respects submitted to the fixed one".

"We do not consider ourselves great specialists in that sphere and
we would not like the things go the other way round in "ArmenTel" –
for the fixed communication to be submitted to the mobile one with our
arrival here. Now, we are examining the situation, we are thinking
over synergy and convergence of services. But we are careful as to
that idea yet, as there are no bright examples of convergence in the
world: much talk, little sense", the Vice-President of "VimpelCom"
stated in an interview to the RBC Daily newspaper.

Sergey Avdeev noted that "ArmenTel" has lost the position of a leader
on the market of mobile communication.

"We should understand the account policy and the way they count
the subscribers in Armenia. However, judging from the accounting,
during 2006 VivaCell managed to leave behind the mobile division of
"ArmenTel". Today, the ration is about 600 thousand to 450 thousand.

But the given fact does not at all confuse us. This is where we know
how to work", the Vice-President of "VimpelCom" stated.