VIMPELCOM TO CONTINUE RENDERING STATUIONARY TELEPHONE COMMUNICATION SERVICES IN ARMENIA

ARKA
April 7, 2008

YEREVAN, April 7. /ARKA/. The Russian VimpelCom Company, full owner
of the ArmenTel Company, has no intention to stop rendering stationary
telephone communication services in Armenia.

Dmitry Pleskonos, VimpelCom Vice-President for Business Development
in the CIS, reported that the issue of selling this business was
removed from the agenda long ago.

According to him, Armenia has become a "pioneer" in stationary
communication services for the company. However, the purchase of
the Golden Telecom Inc, one of the leading providers of integrated
telecommunication and Internet services, by VimpelCom this February
suggests the company’s intention to expand the field of activities.

"Moreover, we are setting ourselves a serious strategic task of
developing a convergent network in Armenia, which will allow us to
develop the stationary network in the country," Pleskonos said.

The VimpelCom Group of Companies comprises companies rendering
communication services in Russia, Kazakhstan, Ukraine, Tajikistan,
Uzbekistan, Georgia and Armenia – an area with an approximate
population of 250mln.

According to the VimpelCom Company’s financial report, the current
number of active customers is 442,500 – a 6.4% annual increase. The
company covers 26.1% of Armenia’s mobile communication market. The
number of users of stationary communication in Armenia is 629,300,
the average revenue per unit (ARPU) is $19.5 – a 5.4% increase.