A large portion of this amount relates to the deductibility of expenses incurred by VimpelCom in connection with the agency relationship between VimpelCom and its wholly owned subsidiary, KB Impuls, which holds the GSM license for the city of Moscow and the Moscow region. This act is a preliminary notice and is not a final tax claim or demand by the inspectorate.

VimpelCom does not agree with the preliminary conclusions in this act. In accordance with the prescribed procedures under Russian law, VimpelCom will provide its written responses and objections to this act. In the past, VimpelCom has always been able to resolve issues with the inspectorate in a professional manner and VimpelCom assumes that it will find a mutually acceptable resolution of this issue.

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