MTS and VimpelCom express joint interest in acquisition of Tele2 Russia

   MTS and VimpelCom express joint interest in acquisition of Tele2 Russia

PR Newswire

MOSCOW and AMSTERDAM, March 28, 2013

MOSCOW and AMSTERDAM, March 28, 2013 /PRNewswire/ -- Mobile TeleSystems OJSC
("MTS" – NYSE: MBT), the leading telecommunications operator in Russia and the
CIS, and VimpelCom Ltd. ("VimpelCom" or "VIP" – NYSE: VIP), a leading
international provider of telecommunications services, announce that both
companies have submitted a joint letter for the attention of Mr. Mike Parton,
Chairman, and Mr. Mats Granryd, President and CEO, of Tele2 AB, expressing
their interest in the acquisition of Tele2 Russia, a subsidiary of Tele2 AB.

In the letter, MTS and VIP indicate that they would be prepared jointly to
acquire 100% of Tele2 Russia for between US$ 4.0 - 4.25 billion, including
US$1.15 billion of net debt. This represents a premium of up to 30% for Tele2
AB and its shareholders relative to the equity value of the recently announced
offer from VTB Capital.

In the letter, both Mr Andrei Dubovskov, President and Chief Executive Officer
of MTS, and Mr Jo Lunder, Chief Executive Officer of VimpelCom, wrote, "We
would like to express our strong interest in providing an alternative offer to
the shareholders of Tele2 AB and we think this is a distinctly more attractive
proposal. We remain convinced that we can create vastly superior value for
your shareholders and would be prepared to enter into discussions immediately
with the aim of being able to conclude a transaction within a short timeframe
and hence deliver the sort of transaction certainty we imagine Tele2 would be
seeking."

They added, "We believe that MTS and VimpelCom demonstrate organizational
strengths that combine well with the values of an organization like Tele2 and
its shareholders. Both companies are publicly listed on the New York Stock
Exchange, which mandates the highest levels of information transparency and
corporate governance standards. MTS and VimpelCom are leading employers in
Russia, and their adoption of leading procurement and technological practices
will ensure that Tele2 employees will identify with a culture that is as open
and dynamic as any global company. Likewise, both companies believe that a
combined transaction is feasible and that a joint approach would ensure that
the necessary regulatory approvals, consistent with the practices of the
Federal Anti-Monopoly Service (FAS), would be obtained for the regional
markets concerned."

Mr Dubovskov and Mr Lunder also commented, "Neither MTS nor VimpelCom were
permitted to meet with Tele2 AB financial advisors or management to discuss
the potential acquisition, which is why we have sent the letter to the Board
of Directors and management of the company today."

Mobile TeleSystems OJSC ("MTS") is the leading telecommunications group in
Russia and the CIS, offering mobile and fixed voice, broadband, pay TV as well
as content and entertainment services in one of the world's fastest growing
regions. Including its subsidiaries, the Group services over 100 million
mobile subscribers. The Group has been awarded GSM licenses in Russia,
Ukraine, Turkmenistan, Armenia and Belarus, a region that boasts a total
population of more than 200 million. Since June 2000, MTS' Level 3 ADRs have
been listed on the New York Stock Exchange (ticker symbol MBT). Additional
information about the MTS Group can be found at www.mtsgsm.com.

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 767 million people. VimpelCom provides services
under the "Beeline", "Kyivstar", "djuice", "Wind", "Infostrada" "Mobilink",
"Leo", "banglalink", "Telecel", and "Djezzy" brands. As of December 31, 2012
VimpelCom had 214 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

Some of the information in this press release may contain projections or other
forward-looking statements regarding future events of MTS and VimpelCom, as
defined in the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. You can identify forward looking statements by
terms such as "expect," "believe," "anticipate," "estimate," "intend," "will,"
"could," "may" or "might," and the negative of such terms or other similar
expressions. We wish to caution you that these statements are only
predictions and that actual events or results may differ materially. We do not
undertake or intend to update these statements to reflect events and
circumstances occurring after the date hereof or to reflect the occurrence of
unanticipated events. We refer you to the documents MTS and VimpelCom file
from time to time with the U.S. Securities and Exchange Commission,
specifically the respective companies' most recent Forms 20-F. These documents
contain and identify important factors, including those contained in the
section captioned "Risk Factors" that could cause the actual results to differ
materially from those contained in our projections or forward-looking
statements, including, among others, the severity and duration of current
economic and financial conditions, including volatility in interest and
exchange rates, commodity and equity prices and the value of financial assets;
the impact of Russian, U.S. and other foreign government programs to restore
liquidity and stimulate national and global economies, our ability to maintain
our current credit rating and the impact on our funding costs and competitive
position if we do not do so, strategic actions, including acquisitions and
dispositions and our success in integrating acquired businesses, potential
fluctuations in quarterly results, our competitive environment, dependence on
new service development and tariff structures, rapid technological and market
change, acquisition strategy, risks associated with telecommunications
infrastructure, governmental regulation of the telecommunications industries
and other risks associated with our countries of operation, volatility of
stock price, financial risk management and future growth subject to risks.

SOURCE VimpelCom; MTS

Website: http://www.vimpelcom.com
Website: http://www.mtsgsm.com
Contact: Joshua B. Tulgan, Director, Corporate Finance and Investor Relations,
Mobile TeleSystems OJSC, Tel: +7 495 223 2025 (Moscow), E-mail: ir@mts.ru; or
Gerbrand Nijman, Investor Relations, VimpelCom Ltd., Tel:+31 (0)20 79 77 200
(Amsterdam), E-mail: Investor_Relations@vimpelcom.com, or Bobby Leach, Media
and Public Relations, Tel: +31 (0)20 79 77 200 (Amsterdam), E-mail:
pr@vimpelcom.com