The board failed to approve the acquisition, in principle, of a minority stake in CJSC "Ukrainian Radiosystems". While six out of nine members of the Company's board voted to approve the acquisition in principle, an affirmative vote of eight out of nine board members is required by VimpelCom's charter to approve the acquisition.

VimpelCom is a leading international provider of telecommunications services, operating under the "Beeline" brand in Russia and Kazakhstan. In addition, VimpelCom is continuing to use "K-mobile" and "EXCESS" brands in Kazakhstan. The VimpelCom Group's license portfolio covers approximately 94% of Russia's population (136 million people), including the City of Moscow, the Moscow Region and the City of St. Petersburg, as well as the entire territory of Kazakhstan. VimpelCom was the first Russian company to list its shares on the New York Stock Exchange ("NYSE"). VimpelCom's shares are listed on the NYSE under the symbol "VIP".

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