NEYCHO VELICHKOV APPOINTED DIRECTOR GENERAL OF ARMENTEL CJSC

Noyan Tapan

Ma y 20, 2008

YEREVAN, MAY 20, NOYAN TAPAN. VimplelCom OJSC has announced the
appointment of Neycho Velichkov as director general of ArmenTEl CJSC
– VimpelCom’s subsidiary providing communication services under the
Beeline brand in the territory of Armenia.

"ArmenTel is an important component of our business and a decisive
element in VimpelCom’s development strategy in other countries,"
VimpelCom’s deputy executive chairman for business development
in CIS countries Dmitry Pleskonos stated. According to him, they
have licences for all types of communication in Armenia, and in the
selection of a director general, "the comprehensive and successful
managerial experience of Neycho Velichkov" was taken into account. "I
am sure that his knowledge will help the company to efficiently
deal with its problems on the introduction of advanced communication
technologies and ensure a leading position in the sector of services,"
D. Pleskonos said.

Commenting on his appointment, N. Velichkov said: "Our major goal
today is to develop the Beeline brand in Armenia, provide services
based on the 3rd generation network and convergent services, as well
as to improve the quality of communication and services. By achieving
success in these directions, we will win popularity with Armenia’s
population and become a leading servicing company in the country".

Neycho Velichkov was born on September 27, 1961, in Sofia
(Bulgaria). He received higher education in Russia where he graduated
from the Moscow State Institute of International Relations in 1990. In
2001 he earned a MBA degree of Seattle University, in 2007 he received
a management and leadership diploma of the Massachusetts Technological
Institute. He has worked in the telecommunication sphere since 2000. He
was a person in charge of corporate sale at Bulgaria’s biggest GSM
operator – MobilTel and was responsible for the company’s marketing
and sale of complex solutions that combine fixed, mobile and IP phone
communication possibilities. In the past 3 years, he headed sales
and marketing of Bulgaria’s biggest fixed communication operator –
Bulgarian Telecommunication Company (BTC) where he participated in the
launching and promotion of BTC’s subsidiary – a mobile communication
operator in the Bulgarian market.

Prior to entering the telecommunication business, N. Velichkov had
his own company providing advisory services on business creation and
development in Russia and EU countries.

Among his achievements is successful introduction of new communication
services in the market (convergent services and solution, GSM Gateway,
VoIP solutions, GSM POS terminals, and mobile VNP).