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VimpelCom increases its stake in Russian mobile retailer Euroset to 50%

   VimpelCom increases its stake in Russian mobile retailer Euroset to 50%

PR Newswire

AMSTERDAM, Dec. 7, 2012

AMSTERDAM, Dec. 7, 2012 /PRNewswire/ --"VimpelCom Ltd." ("VimpelCom",
"Company" or "Group") (NYSE:VIP), a leading global provider of
telecommunications services, today announces that its fully owned subsidiary
in Russia, OJSC Vimpel-Communications,has acquired 0.1% of the shares of
Euroset Holding N.V. ("Euroset") to increase its ownership interest to 50% of
Euroset.The shares were issued by Euroset to OJSC VimpelCom
subsidiarysimultaneously with the acquisition of the other 50% of the shares
of Euroset by Lefbord Investments Limited, a company owned by MegaFon and
Garsdale Services Investment Ltd.

As a result of these transactions, VimpelCom and Lefbord have equal economic
and governance rights in Euroset.Previously, VimpelCom had a minority
interest in Euroset with more limited governance rights.VimpelCom expects to
continue to account for Euroset using the equity method.

Commenting on today's announcement, Anton Kudryashov, Chief Executive Officer
of OJSC VimpelCom, said: "Euroset is a strategic partner for VimpelCom and a
major distribution and customer service channel. This transaction is the next
step in the process of building a more efficient and sustainable operational
model between VimpelCom and the largest telecom retailer in Russia, which will
help us to provide better service to our customers".

About VimpelCom

VimpelCom is 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 780 million people. VimpelCom provides services
under the "Beeline", "Kyivstar", "djuice", "Wind", "Infostrada" "Mobilink",
"Leo", "banglalink", "Telecel", and "Djezzy" brands. As of September 30, 2012
VimpelCom had 212 million mobile subscribers on a combined basis. VimpelCom is
traded on the New York Stock Exchange under the symbol (VIP). For more
information visit:

SOURCE VimpelCom Ltd.

Contact: Investor Relations, VimpelCom Ltd., Gerbrand Nijman,
+31-20-79-77-200,; Media and Public
Relations, VimpelCom Ltd., Bobby Leach, +31-20-79-77-200,
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