Net Element International Partners With OJSC VimpelCom to Provide Payment Processing Services to the 56 Million Subscribers of

  Net Element International Partners With OJSC VimpelCom to Provide Payment
  Processing Services to the 56 Million Subscribers of VimpelCom in Russia

 Partnership Will Focus on Driving Revenues from the Fast-Growing Russian SMS
                     Payments and Mobile Commerce Market

Business Wire

MIAMI & MOSCOW -- October 05, 2012

Net Element International (NASDAQ: NETE), a global technology and publishing
company that operates in mobile commerce and payment processing, and also
publishes popular entertainment portals and destinations, and OJSC VimpelCom
(NYSE:VIP), a wholly owned subsidiary of VimpelCom Ltd., providing services
under the “Beeline” brand, today announced their partnership to provide
payment processing services to the 56 million subscribers of VimpelCom in
Russia. The agreement calls for Beeline to enable Net Element International’s
mobile payment platform, TOT Money, to facilitate the mobile payments for
Beeline subscribers.

TOT Money is expected to become a leading value-added services provider for
the $1.5 billion Russian SMS payments market and the $475 million Russian
mobile commerce market. The market’s growth is being driven by Russia’s
booming mobile marketplace with more than 227 million active SIM cards.

“We are pleased by the significant gains that VimpelCom is enjoying thanks to
our partnership with TOT Money and look forward to continued success with this
highly innovative company. We believe that this partnership will help us to
capitalize on the growth opportunities in the mobile commerce market,” said
Anton Kudryashov, OJSC VimpleCom’s general director.

Added Dmitry Kozko, Net Element International’s president: “By signing
VimpelCom, Net Element has officially solidified partnerships to provide
payment processing services for all the ‘Big Three’ mobile commerce operators
in Russia. This is an important part of Net Element’s strategy to capitalize
on Russia’s booming mobile marketplace by positioning TOT Money as a leading
value-added services provider for Russia’s SMS payments and mobile commerce
market.”

About VimpelCom (NYSE:VIP)

OJSC VimpelCom (NYSE:VIP) is a subsidiary of VimpelCom Ltd, one of the world’s
largest integrated telecommunications services operators providing voice and
data services through a range of traditional and broadband mobile and fixed
technologies in Russia, Italy, Ukraine, Kazakhstan, Uzbekistan, Tajikistan,
Armenia, Georgia, Kyrgyzstan, Cambodia, Laos, Algeria, Bangladesh, Pakistan,
Burundi, Zimbabwe, Central African Republic and Canada. VimpelCom’s operations
around the globe cover territory with a total population of approximately 782
million people. VimpelCom provides services under the "Beeline", "Kyivstar",
"djuice", “Wind”, "Infostrada" “Mobilink”, “Leo”, “banglalink”, “Telecel”, and
“Djezzy” brands. As of June 30, 2012 VimpelCom had 208 million mobile
subscribers on a combined basis. VimpelCom is traded on the New York Stock
Exchange under the symbol (VIP). For more information visit:
http://www.vimpelcom.com

About Net Element International (NASDAQ:NETE)

Net ElementInternational (NASDAQ:NETE) is a global technology and publishing
company that operates in mobile commerce and payment processing, as well as
publishes popular Internet portals and destinations. Its international
development centers and influential relationships in Russia and Commonwealth
Independent States strategically position the company for growth in Russia and
other emerging markets. Net Element International owns and operates a
mobile-commerce company, TOT Money, as well as several Internet properties
that create social and business communities in the entertainment, music,
motorsports and film industries. Net Element International’s portfolio
includes:www.TOTmoney.ru; www.Motorsport.com;www.Openfilm.com; and
www.Music1.ru; www.ARLive.comandwww.Yapik.com. For more information,
visitwww.NetElement.com.

Contact:

Roar Media
Tyler Sminkey, 305-403-2080, Ext. 114
tyler@roarmedia.com
www.RoarMedia.com
 
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