Telenor entered into its Total Return Equity Swap with ING Bank on June 2, 2006. The record date for VimpelCom's June 23 AGM was May 5, 2006. ING did not acquire any ADRs under the swap until June 2nd. Telenor has no voting power with respect to any of the ADRs purchased by ING.

The Federal Antimonopoly Service of the Russian Federation has publicly stated that it has no objection to the Total Return Equity Swap that Telenor entered into with ING Bank and that it is in accordance with Russian law.

Telenor has been and remains devoted to successfully negotiating VimpelCom's acquisition of Kyivstar and calls on Altimo to return to good faith negotiations.