Mediamax News Agency, Armenia
June 29 2007

`ArmenTel’ sets the task of becoming the best service ñompany in
Armenia by the end of 2008

Yerevan, June 29 /Mediamax/. General Director of `ArmenTel’ Oleg
Bliznyuk stated in Yerevan today that `we have set the task to become
the best service Company in Armenia by the end of 2008, and I am sure
that we will fulfill it’.

Mediamax reports that Oleg Bliznyuk said this today during the
meeting with journalists, dated for the Day of the Company, which is
celebrated by `ArmenTel’ today.

For the participation in the Day of the Company, the Founder and the
Honorary President of `VimpelCom’ OJSC Dmitri Zimin and the Executive
Vice-President of `VimpelCom’ on Business Development in CIS States,
member of the Company’s Board of Directors Dmitri Pleskonos have
arrived in Yerevan.

Dmitri Pleskonos stated that the task to become a service of
international level is set for the whole group of `VimpelCom’. He
described as `very successful’ the deal on purchasing `ArmenTel’ and
stressed that the Armenian market has good potential for growth in
all directions – fixed and mobile communication, broadband internet,
3G mobile communication services.

`The unique experience of `ArmenTel’ helps us and gives the
opportunity to understand the situation, to make correct decisions.
We believe that the fixed communication and the broadband internet
will give us wide opportunities for development in Armenia’, Dmitri
Pleskonos stated.

Vice-President of `VimpelCom’ OJSC stressed that the Company is
implementing modern equipment in Armenia, `which will meet the latest
requirements of the market and technologies’. Dmitri Pleskonos
highlighted the work, which is in process in `ArmenTel’ for the
implementation of a new system of billing of fixed communication,
which will allow extending the variety of services.

`The Armenian market has great prospects from the point of view of
provision of non-voice services; there is much place for work here’,
Dmitri Pleskonos stated.

Representatives of `VimpelCom’ OJSC expressed content by the meeting
with the Armenian Prime Minister Serzh Sarkisian, which took place
June 28. The Founder and the Honorary President of `VimpelCom’ OJSC
Dmitri Zimin informed about the `well-disposed attitude’ of the
Armenian authorities to the Company and noted that the demand for
telecommunication services in Armenia takes the lead over the supply,
and this `gives wide opportunities for development and implementation
of new services’.

Talking about the prospects of implementation of convergent services
in Armenia, Dmitri Pleskonos stated that, first of all, one should
secure high quality of the mobile and fixed services of `ArmenTel’,
after which one may consider the prospects of their combination.

General Director of `ArmenTel’ CJSC Oleg Bliznyuk stated that `in the
nearest few months you will see the results of our efforts on
development of broadband internet’.