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VimpelCom Reports Profitable Growth in 1Q13

                 VimpelCom Reports Profitable Growth in 1Q13

PR Newswire

AMSTERDAM, May 15, 2013

AMSTERDAM, May 15, 2013 /PRNewswire/ --

KEY RESULTS AND DEVELOPMENTS IN 1Q13

  oRevenues of USD 5.6 billion; organic^1 growth of 1% YoY
  oEBITDA of USD 2.3 billion, up 3% organically YoY
  oEBITDA margin increased 0.9 p.p. YoY to 42.0%
  oTotal mobile subscriber base increased 4% YoY^2 to 215 million
  oNet income attributable to VimpelCom shareholders increased 28% YoY to USD
    408 million

"VimpelCom Ltd" ("VimpelCom", "Company" or "Group") (NYSE: VIP), a leading
global provider of telecommunications services, today announces operating and
financial results for the quarter ended March 31, 2013.

JO LUNDER, CHIEF EXECUTIVE OFFICER, COMMENTS:
"VimpelCom has again delivered a good performance in the first quarter of
2013. Year-on-year organic revenue growth was 1%, impacted particularly by MTR
reductions in Italy, without which Group organic revenue growth would have
been 4%. EBITDA was up 3% organically and 5% excluding the MTR reductions in
Italy, highlighting our continuing and successful focus on operational
excellence and cost control. The Group's EBITDA margin increased 0.9
percentage points year-on-year. These results demonstrate further progress on
our Value Agenda and we remain on track to achieve our longer term
objectives."



CONSOLIDATED FINANCIAL AND OPERATING HIGHLIGHTS


USD mln                             1Q13 1Q12 Reported YoY  Organic YoY
Total operating revenues            5,591   5,619   0%             1%
EBITDA                              2,348   2,311   2%             3%
EBITDA margin                       42.0%   41.1%   -
EBIT                                1,107   1,015   9%
Net income attributable to          408     318     28%
VimpelCom shareholders
EPS, basic (USD)                    0.25    0.20    25%
Net cash from operating activities  1,274   1,607   -21%
Capital expenditures^3              595     632     -6%
Net debt / LTM EBITDA               2.3     2.6     -
Total mobile subscribers            215     206     4%
(millions)^2



1) Organic revenue and EBITDA growth are non-GAAP financial measures that
exclude the effect of foreign currency movements and certain items like
liquidations and disposals. A reconciliation of organic to reported Revenue
and EBITDA growth can be found in Attachment C. For more information please
see the definition of Organic growth Revenue and EBITDA in Attachment E.
2) Following the sale of Vietnam the subscriber numbers for 1Q12 exclude
Vietnam subscribers of 3 million.
For all definitions please see Attachment E.
3) Capex 1Q13 excludes EUR 136 million of non-cash increase in Intangible
Assets related to the contract with Terna in relation to the Right of Way of
WIND's backbone



ORGANIC GROWTH REVENUE AND EBITDA
                                      1Q13 versus 1Q12
                          Revenue                        EBITDA
Business Units  Organic FX / others Reported  Organic FX / others Reported
Russia          5%       -1%         4%        6%       -1%         5%
Italy            -9%      1%          -8%       -5%      0%          -5%
Africa & Asia   -1%      -6%         -7%       2%       -5%         -3%
Ukraine         3%       0%          3%        -1%      0%          -1%
CIS             20%      -1%         19%       38%      -1%         37%
Total           1%       -1%         0%        3%       -1%         2%





PRESENTATION OF FINANCIAL RESULTS
VimpelCom results presented in this earnings release are based on IFRS.

The actual financial results in this earnings release have not been audited.

Certain amounts and percentages that appear in this earnings release have been
subject to rounding adjustments.As a result, certain numerical figures shown
as totals, including in tables, may not be exact arithmetic aggregations of
the figures that precede or follow them.

STRATEGIC UPDATE AND MAIN EVENTS

  oFinal dividend 2012 and extra-ordinary dividend for a total of USD 2.0
    billion or USD 1.14 per share
  oReaffirmed dividend guidelines of at least USD 0.80 per common share
  oSold stake in Cambodia
  oSuccessfully issued EUR 575 million bonds by WIND
  oAGM re-elected all nine Supervisory Board members

In April, VimpelCom announced the authorization of the final dividend 2012 of
USD 0.35 per common share. The Supervisory Board also approved an
extra-ordinary dividend of USD 0.79 per common share, related to the
conversion of Convertible Preferred Shares by Altimo Holdings & Investments
Ltd. ("Altimo"). The total dividend amount paid related to the final dividend
2012 and the extra-ordinary dividend is USD 2.0 billion.

In addition, notwithstanding the increased number of outstanding common shares
after Altimo's conversion of Convertible Preferred shares, the Company
affirmed its dividend guidelines, based on which VimpelCom aims to pay out at
least USD 0.80 per share per year assuming not more than 1,757 million common
shares are issued and outstanding. For the full dividend guidelines, please
refer to the Company's website at www.vimpelcom.com.

In April, VimpelCom announced the sale of its entire indirect stake in Sotelco
Ltd. in Cambodia to its local partner, Mr. Huot Vanthan. This sale was
in-line with the Company's Value Agenda and resulted from the on-going
strategic portfolio review, within which its operations are reviewed to assess
their future value to the Group.

In the same month, Altimo announced that it launched a mandatory cash tender
offer to acquire all outstanding ordinary shares of Orascom Telecom Holding
S.A.E. (OTH). VimpelCom does not plan to tender its OTH shares into Altimo's
tender offer on the current terms of the offer.

In April, the Company published its Annual Report 2012 as well as its
Corporate Responsibility Report 2012.

In April, Wind Acquisition Finance, a subsidiary of WIND Italy, successfully
issued EUR 575 million equivalent Senior Secured Notes in a combination of EUR
150 million 2019 Floating Rate Notes three-month EURIBOR plus 525 bps and USD
550 million 2020 Fixed Rate Notes 6.50%. The net proceeds of this offering
were used to refinance WIND's 2014 and 2015 term loan maturities to optimize
its cash flow profile over the coming years.

On April 24, 2013, VimpelCom held its Annual General Meeting of Shareholders
(AGM) in Amsterdam, during which the Company's shareholders re-elected all
nine Supervisory Board members, including four nominated by Altimo, three
nominated by Telenor and two independent directors. Shareholders also
re-appointed Ernst & Young as the Company's auditor. Following the AGM, the
Supervisory Board unanimously re-elected Alexey Reznikovich as its Chairman.

OTH announced it has signed a share purchase agreement to sell its stake in
Telecel Globe Limited, which owns operations in Burundi and Central African
Republic. The sale is subject to closing conditions.

In May, VimpelCom announced that Henk van Dalen, Chief Financial Officer, has
decided to leave the Company when his contract expires in September 2013. A
process to identify VimpelCom's next Chief Financial Officer is underway and
an announcement will be made in due course.

VIMPELCOM GROUP – FINANCIAL AND OPERATING RESULTS 1Q13

  oRevenues of USD 5.6 billion with organic growth of 1% YoY, significantly
    impacted by the 72% MTR cut in Italy
  oContinued mobile data growth, with Russia up 31% YoY and Italy up 29% YoY
  oEBITDA of USD 2.3 billion, up 3% organically YoY
  oTotal mobile subscriber base increased 4% YoY to 215 million, with
    incidental strong growth in Uzbekistan
  oCAPEX of USD 0.6 billion; LTM CAPEX / Revenues of 18%
  oNet cash from operating activities of USD 1.3 billion
  oNet debt / LTM EBITDA of 2.3x at the end of 1Q13

OPERATING PERFORMANCE OVERVIEW

In 1Q13 VimpelCom continued to deliver on its strategic priorities as defined
by the Company's Value Agenda for 2013-2015, with profitable organic growth in
almost all business units. In USD terms, 1Q13 results were negatively impacted
by the YoY appreciation of the USD against the local currencies in most of
VimpelCom's operating businesses. Excluding the 72% reduction of MTRs in
Italy, Group revenues would have grown approximately 4% organically YoY and
EBITDA would have grown organically by approximately 5% YoY. The organic
development is highlighted below.

The total mobile subscriber base increased 4% YoY to 215million at the end of
the first quarter. The largest absolute contribution came from a large
increase in subscribers in CIS, primarily due to the network closure of a
competitor by the Uzbek authorities. There was also subscriber growth in the
Ukraine and Africa & Asia business units. Additionally, the Company achieved
strong growth in fixed and mobile broadband subscribers in Russia, Italy and
the Ukraine.

In Russia, the Company continued the positive trend of 2012, delivering
organic revenue growth of 5% YoY. Mobile data revenues increased 31% YoY.
Mobile broadband subscribers in Russia increased 5% YoY to 2.7 million, while
the fixed broadband subscriber base increased 7% YoY to 2.4 million.

In Italy, WIND continued to outperform the broader Italian telecom market,
which remains highly competitive. VimpelCom further strengthened its market
position in Italy in both the mobile and fixed-line segments. Fixed broadband
revenues increased 9% YoY in local currency, while mobile internet revenues
increased 29% YoY in local currency.

The Africa & Asia Business Unit was impacted by regulatory and governmental
actions, with revenues down 1% YoY organically in 1Q13. In Algeria, Djezzy was
able to maintain its leadership position, with revenues flat YoY despite
limitations resulting from the on-going restrictions. In Pakistan, revenue
growth was impacted by several government-forced cellular network closures. In
Bangladesh, the decline in revenues was mainly due to the continued
disconnection of high value suspected VoIP customers in compliance with new
self-regulations set by the regulator and 19 days of strikes during the
quarter. The subscriber base in our Africa & Asia business unit increased by
2% YoY to 85 million.

The Ukraine Business Unit completed the transition of its mobile subscriber
base to bundled tariff plans as of the end of the first quarter, solidifying
its market position in the mobile segment and successfully lowering churn. The
mobile subscriber base in the Ukraine increased by 11% YoY to 27.5 million.
Total revenues increased 3% YoY, with mobile revenues up 2% and fixed-line
service revenues up 13% YoY, mainly due to a 44% increase in fixed residential
broadband revenues.

The CIS Business Unit continued to deliver double digit YoY organic revenue
growth, with results benefiting meaningfully from the situation in Uzbekistan.
The Company continues to face particularly strong competition in Kazakhstan,
as well as in Armenia and Kyrgyzstan. In Kazakhstan, VimpelCom is
transitioning its subscriber base to bundled tariff plans to solidify its
market position and this transition is impacting revenues.



OPERATING FINANCIALS PER BUSINESS UNIT


USD mln                   1Q13  1Q12 Reported YoY  Organic YoY
Total operating revenues  5,591  5,619  0%            1%
     of which:
     BU Russia            2,304  2,225  4%            5%
     BU Italy             1,622  1,766  -8%           -9%
     BU Africa & Asia     864    927    -7%           -1%
     BU Ukraine           396    385    3%            3%
     BU CIS               451    379    19%           20%
     other                (46)   (64)   -             -
EBITDA                    2,348  2,311  2%            3%
     of which:
     BU Russia            963    918    5%            6%
     BU Italy             610    639    -5%           -5%
     BU Africa & Asia     412    424    -3%           2%
     BU Ukraine           194    197    -3%           -1%
     BU CIS               220    161    37%           38%
     other                (51)   (28)   -             -
EBITDA margin             42.0%  41.1%  -             -
Capital expenditures*     595    632    -6%           -

* Capex 1Q13 excludes EUR 136 million of non-cash increase in Intangible
Assets related to the contract with Terna in relation to the Right of Way of
WIND's backbone

FINANCIAL PERFORMANCE OVERVIEW

EBITDA increased 2% YoY, reflecting the negative impact of unfavorable
currency movements. Excluding the effects of forex, EBITDA increased 3%
compared to the same period last year. Excluding the 72% reduction of MTR in
Italy, Group EBITDA would have grown 5% organically YoY. Russia delivered
healthy EBITDA organic growth of 6% YoY due primarily to higher revenues and
strong cost control measures. In Italy, EBITDA declined 5% YoY mainly due to
the MTR cuts in July 2012 and January 2013, partially offset by a general
reduction of costs. Excluding the MTR impact, EBITDA in Italy increased 2% YoY
organically. In Africa & Asia, EBITDA increased 2% YoY organically. In
Ukraine, EBITDA declined 1% YoY due to higher business costs resulting from an
increase in mobile gross additions and growth in OPEX, partially offset by a
decline in HR costs. The 38% YoY EBITDA organic growth in CIS was supported by
strong performance in Uzbekistan following the closure of a competitor's
network by the Uzbek authorities, as well as ongoing operational excellence
and cost control measures.

EBIT in 1Q13 grew by 9% compared to 1Q12 reflecting the better operational
performance and positive impact of a declining amortization applied to
intangible assets associated with customer relationships as part of the Wind
Telecom acquisition, as well as lower losses recognized on equipment sales and
asset disposals.

Profit before tax decreased by 8% YoY to USD 543 million compared to profit
before tax of USD 593 million in the same period a year ago. The decline is
primarily due to a lower foreign exchange gain, which totaled USD 28 million
in 1Q13 compared to a foreign exchange gain of USD 63 million in 1Q12.

Net income attributable to VimpelCom shareholders increased 28% YoY in 1Q13 to
USD 408 million compared to net income of USD 318 million in 1Q12. The
increase is the result of higher EBIT, higher financial expenses and the
favorable impact attributable to non-controlling interest.

CAPEX totaled USD 595 million in 1Q13, with further roll out of the mobile
networks in Russia, Bangladesh and CIS and continued roll out of HSDPA+ and in
backbone capacity to support the growth in data in Italy. CAPEX 1Q13 excludes
USD 179 million of non-cash increase in Intangible Assets related to the
contract with Terna, in relation to the Right of Way of WIND's fiber-optic
backbone securing WIND's long term capability to handle the growing data
traffic. LTM CAPEX to revenues stood at 18%. Due to catch-up investments in
Russia and potentially in Algeria, the Company expects FY13 CAPEX excluding
licenses to be approximately 21% of revenue.



INCOME STATEMENT ELEMENTS
USD mln                                            1Q13 1Q12 YoY
Total operating revenues                           5,591  5,619  0%
EBITDA                                             2,348  2,311  2%
EBIT                                               1,107  1,015  9%
Financial income and expenses                      (501)  (443)  13%
Net foreign exchange (loss)/gain and others        (63)   21     n.m.
Profit before tax                                  543    593    -8%
Income tax expense                                 (213)  (239)  -11%
Profit for the period                              330    354    -7%
Net income attributable to VimpelCom shareholders  408    318    28%

STATEMENT OF FINANCIAL POSITION & CASH FLOW
USD mln                                       1Q13 4Q12      QoQ
                                                      restated* 
Total assets                                  54,291  54,737       -1%
Shareholders' equity                          14,410  14,246       1%
Gross debt                                    28,615  26,987       6%
Net debt                                      22,861  21,971       4%
USD mln                                       1Q13  1Q12      YoY
Net cash from operating activities            1,274   1,607        -21%
Net cash used in investing activities         (1,054) (915)        15%
Net cash received from financing activities  498     941          -47%

* Certain amounts shown here do not correspond to the annual consolidated
financial statements as at 31 December 2012 and reflect adjustments made with
respect to the investment in Euroset. The investment has been revalued in Q4
2012 following the requirements of IAS 28 Investments in Associates increasing
the net result by USD 606 million and currency translation of USD 17 mln. Due
the adoption of a new standard IFRS 11 Joint Arrangements in 2013 and its
retrospective application, VimpelCom had to restate the opening balances to
reverse the above mentioned revaluation

Total assets decreased by 1% YoY in 1Q13 to USD 54.3 billion, primarily
reflecting depreciation of the Ruble and Euro relative to reporting currency.
Gross debt increased 6% YoY for 1Q13 to USD28.6billion, with the increase
primarily due to the completion of approximately USD 2 billion in debt
refinancing during the quarter. Net debt increased 4% YoY in 1Q13 to USD 22.9
billion mainly due to dividend payments of USD 1.3 billion in January 2013,
leading to a net debt to LTM EBITDA ratio of 2.3x at the end of the first
quarter.

Net cash from operating activities decreased 21% YoY to USD 1.3 billion
primarily reflecting the temporarily negative impact of change in working
capital compared to the same period a year ago and the phasing of tax and
interest payments. The change in working capital was mainly caused by higher
inventories and receivables related to handset sales not converted into cash,
lower customer advances and deposits on top ups and lower payables as a result
of deferred payments in 4Q12. Net cash used in investing activities increased
to USD 1.1 billion in 1Q13 compared to USD 0.9 billion in 1Q12, mainly due to
investments in deposits. The decrease in net cash received from financing
activities in 1Q13 compared to 1Q12 was mainly the result of dividend payments
in January 2013.

BUSINESS UNITS PERFORMANCE IN 1Q13

  oRussia
  oItaly
  oAfrica & Asia
  oUkraine
  oCIS

BUSINESS UNIT RUSSIA – FINANCIAL AND OPERATING RESULTS

  oRevenue increased 5% YoY, with 5% growth in both mobile and fixed-line
    revenues
  oMobile data revenue grew 31% YoY, with 44% YoY improvement in small screen
    data revenue
  oEBITDA increased 6% YoY, leading to EBITDA margin growth of 0.5 p.p. YoY
    to 41.8%

The Russian Business Unit continued its positive operational performance,
delivering profitable growth in 1Q13 with a revenue increase of 5% YoY and
EBITDA growth of 6% YoY. The mobile subscriber base increased slightly YoY to
55.7 million subscribers.

Mobile revenues increased 5% YoY, primarily driven by mobile data revenue
growth of 31%. The strong improvement in mobile data revenues more than offset
the decline in mobile voice revenues in 1Q13, and ARPU increased by 2% YoY to
RUB 321. Mobile data revenues grew 61% YoY in Moscow, which is targeted as a
priority region for VimpelCom, especially for growing mobile data. VimpelCom
continued its efforts aimed at stimulating data usage for small and medium
screen users by promoting bundled tariff plans. As a result, data revenues for
small screens increased by 44% YoY in 1Q13, continuing the strong growth seen
in previous quarters. Additionally, the percentage of subscribers with bundled
tariffs increased by 4 p.p. YoY in 1Q13 to 7%. Strong growth of 79% YoY in
equipment and accessory sales added to mobile revenue growth during the
quarter.

Fixed-line revenues increased 5% YoY in 1Q13 driven by strong performance of
the FTTB segment. The FTTB subscriber base increased by 8% YoY to 2.3 million,
while FTTB revenues increased by 15% YoY.

Quarterly mobile churn decreased to 15% in 1Q13 from 17% in 1Q12. The Company
aims to reduce churn in FY13 by increasing the quality of the data network,
improving the quality of its subscriber base as the result of a full revenue
share model with all of its distributors and launching a comprehensive churn
reduction program. The Company's strategy of expanding its owned mono-brand
stores will also support reduced churn by offering better customer service and
an improved product offering to subscribers.

EBITDA margin increased 0.5 p.p. YoY to 41.8% in 1Q13, with improvement driven
by the Company's Operational Excellence program. The primary contributors to
the EBITDA margin improvement were savings in commercial costs, primarily
driven by the shift to a revenue share model with distributors, as well as
savings in HR costs.

In May, VimpelCom announced the appointment of Artem Nitz as Vice-President,
Director of the Moscow region. Before joining OJSC VimpelCom, Artem served as
CFO in VimpelCom's Ukraine business unit after holding the position of
Director corporate strategy. Artem Nitz will replace Andrey Pyatakhin, who
will become CEO of VimpelCom's operating company in Armenia.

KEY DEVELOPMENTS 1Q13

  oTotal revenue in Russia grew by 5% YoY to RUB 70.1 billion.
  oMobile revenues increased 5% YoY to RUB 58.1 billion.
  oFixed-line revenue increased 5% YoY to RUB 12.0 billion.
  oEBITDA increased by 6% YoY to RUB 29.3 billion.
  oEBITDA margin increased 0.5 p.p. to 41.8%.
  oThe mobile subscriber base increased slightly YoY to 55.7 million; mobile
    broadband subscribers increased 5% YoY to 2.7 million. The fixed broadband
    subscriber base increased 7% YoY to 2.4 million.
  oMobile ARPU increased by 2% YoY to RUB 321.
  oMobile data traffic grew 72% YoY.
  oLTM CAPEX/Revenues was 18% in 1Q13 and VimpelCom remains on track to
    deliver continued improvement in network quality to support the growth of
    mobile data.



RUSSIA KEY INDICATORS
RUB mln                              1Q13 1Q12 YoY
Total operating revenues             70,080 67,022 5%
Total operating expenditures         40,788 39,367 4%
EBITDA                               29,292 27,654 6%
EBITDA margin                        41.8%  41.3%  -
Capex                                6,711  6,140  9%
Capex / revenues                     10%    9%     -
Mobile
Mobile total operating revenues      58,117 55,576 5%
- of which mobile data               7,194  5,510  31%
Mobile subscribers ('000)            55,666 55,622 0%
- of which mobile broadband ('000)   2,717  2,579  5%
Mobile ARPU (RUB)                    321    314    2%
MOU (min)                            277    254    9%
Fixed-line
Fixed-line total operating revenues  11,963 11,445 5%
Fixed Broadband revenues             3,187  2,795  14%
Fixed Broadband subscribers ('000)   2,378  2,224  7%
Fixed Broadband ARPU (RUB)           440    426    3%

BUSINESS UNIT ITALY - FINANCIAL AND OPERATING RESULTS

  oRevenues increased 1% YoY, excluding MTR impact
  oEBITDA up 2% YoY, excluding MTR impact, supported by cost efficiency
  oStrong data revenue growth: mobile Internet up 29%, messaging up 5%, fixed
    broadband up 9%
  oMobile subscribers exceeded 22 million; 100% of net additions in the
    market

WIND in Italy continued to outperform its competitors in 1Q13 posting a solid
performance that partially offset the unfavorable regulatory and macroeconomic
environment in a very competitive market.

Total revenues in 1Q13 decreased 9% YoY mainly as a result of cuts in mobile
termination rates in both July 2012 and January 2013 for a total reduction of
72% (5.3 Euro cent in 1Q12 vs. 1.5 Euro cent in 1Q13). Excluding the impact
from MTR cuts total revenues grew 1% YoY.

In mobile, revenues declined by 10% over 1Q12 due to the aforementioned MTR
cuts, net of which growth would have been 3%. WIND's mobile subscriber base
grew by 4% YoY despite the high churn rate due to an acceleration of the MNP
phenomenon in the market.

In fixed-line revenues decreased 6% mainly due to the decline in the indirect
customer base coupled with a reduction in voice ARPU as a result of the new
strategy focused on LLU. However the higher margin direct customer base
increased by 1% YoY.

WIND posted strong performance in Data with mobile internet revenues up 29%,
messaging revenues up 5% and fixed Broadband revenues increasing by 9%. Mobile
broadband consumer subscribers grew 39% YoY and fixed broadband customers grew
by 1% driven by a 3% increase in the more profitable LLU Broadband subscriber
base.

EBITDA declined by 5% driven by the reduction in revenues, due to the MTR
cuts, partially offset by structural cost saving initiatives implemented in
the period in almost all lines of the P&L. Net of MTR cuts EBITDA would have
increased 2%. Despite this decline, EBITDA margin increased by 1.3 percentage
points YoY to 37.5%.

KEY DEVELOPMENTS 1Q13

  oTotal revenues declined 9% YoY to EUR 1,229 million with an underlying
    increase, excluding MTR impact, of 1%.
  oEBITDA declined 5% to EUR 461 million, with an underlying increase,
    excluding MTR impact, of 2%.
  oEBITDA margin increased 1.3 percentage points to 37.5%.
  oMobile customer base increased 4% to exceed 22 million subscribers, with
    WIND gaining 100% of MNO net additions in 1Q13. Mobile broadband consumer
    subscribers grew 39% YoY.
  oMobile data ARPU increased by 8% to EUR 4.1 accounting for 33% of the
    total ARPU of EUR 12.4; the total ARPU decreased due to a decline in voice
    ARPU mainly related to the two MTR cuts and competitive intensity. This
    was coupled with the ongoing success of WIND's data only SIM card
    offerings for tablets, PCs and dongles which do not generate voice
    revenues.
  oIn fixed-line, WIND continued to focus on the direct market, achieving 2%
    growth in voice LLU subscribers to 2.46 million. Fixed broadband
    subscribers grew by 1% to 2.23 million driven by 3% increase in LLU
    broadband customers.
  oFixed-line ARPU decreased by 3% to EUR 31.3 driven by the decline of
    pay-per-use traffic and prices coupled with promotional activity resulting
    from competitive pressure. Broadband ARPU grew 7% YoY to EUR 20.2 mainly
    due to strong penetration of bundle offers.
  oCAPEX totaled EUR 162 million, which was invested mainly in the mobile
    HSPA+ expansion and in the backhauling capacity to support the strong
    growth in data. CAPEX excludes EUR 136 million of non-cash increase in
    Intangible Assets related to capitalization of a contract with Terna, in
    relation to the Right of Way of WIND's fiber-optic backbone, securing
    WIND's long term capability to handle the growing data traffic.



ITALY KEY INDICATORS
Euro mln                                 1Q13 1Q12 YoY
Total operating revenues                 1,229  1,346  -9%
Total operating expenditures             769    859    -11%
EBITDA                                   461    487    -5%
EBITDA margin                            37.5%  36.2%  -
Capex ^(1)                               162    193    -16%
Capex ^(1)/ revenues                     13%    14%    -
Mobile
Total revenues                          888    983    -10%
Subscribers ('000)                       22,013 21,132 4%
- of which mobile broadband ('000) ^(2)  6,277  4,525  39%
ARPU (€)                                 12     15     -16%
MOU (min)                                216    205    5%
Fixed
Total revenues                          341    363    -6%
Total voice subscribers ('000)           3,096  3,182  -3%
Total fixed-line ARPU (€)                31     32     -3%
Broadband subscribers ('000)             2,228  2,211  1%
Broadband ARPU (€)                       20     19     7%
Dual-play subscribers ('000)             1,871  1,809  3%



(1) Capex 1Q13 exclude EUR 136 million of non-cash increase in Intangible
Assets related to the contract with Terna in relation to the Right of Way of
WIND's backbone
(2) Mobile broadband includes consumer customers that have performed at least
one mobile Internet event in the previous month on 2.5G/3G/3.5G

BUSINESS UNIT AFRICA & ASIA – FINANCIAL AND OPERATING RESULTS

  oRevenues decreased by 1% YoY organically to USD 864 million, impacted by
    regulatory and governmental actions
  oEBITDA grew organically 2% YoY to USD 412 million, with an EBITDA margin
    of 47.7%
  oSubscriber base increased by 2% to more than 85 million

Revenues in the Africa & Asia business unit were negatively impacted by
regulatory and governmental actions that are beyond management control and
decisions, leading to a decline of 1% YoY organically to USD 864 million. This
decline was mainly driven by the slowdown in Bangladesh due to the new
self-regulation set by the regulator and 19 days of strikes during the
quarter, the on-going restrictions on Djezzy in Algeria, which affected our
operational competitiveness and the political and macro-economic unrest in
Pakistan. Reported results in US dollar terms were adversely affected by local
currency devaluation against the US dollar, mainly in Algeria and Pakistan
resulting in a revenue decline of 7% YoY and an EBITDA decline of 3% YoY.
EBITDA achieved organic growth of 2% YoY reaching USD 412 million.

ALGERIA ("DJEZZY")

Djezzy was able to maintain its leadership position with a market share of
55%, growing its subscriber base by 1% YoY to 17.9 million customers. Revenues
remained relatively flat YoY in local currency terms, despite the lack of
competitiveness on marketing offering and activities. In addition, strikes at
the local post office indirectly affected customers spending due to their
inability to withdraw or transfer funds. Mobile data revenues grew by 49% YoY.
EBITDA decreased by 2% YoY in local currency terms, mainly due to higher IT
costs, as well as higher administrative costs. During the quarter, Djezzy was
internationally awarded the "Lawhat d' Or" for the best outdoor campaign in
Algeria during 2013.

PAKISTAN ("MOBILINK")

Mobilink subscriber base increased by 1% YoY to 36.3 million customers. The
operating environment in Pakistan remained challenging due to persistent
energy shortage, a volatile security situation and continued telecom
regulatory restrictions. In 1Q13, Mobilink implemented several initiatives
designed to mitigate the impact of regulatory restrictions on retail channel
sales for new SIMs by changing the distribution structure through direct
agreements with selected retailers and focusing on reactivation offers. All
cellular networks in major cities were shut down several times upon government
request for security reasons, which resulted in revenue loss for all cellular
operators. Despite all these issues, revenues increased by 5% YoY in local
currency terms, driven by aggressive acquisition offers, price increase
initiatives for base tariffs and all major offers, a higher subscriber base
and improved VAS and interconnect revenues. Mobile data revenues increased by
27% YoY. EBITDA increased by 5% YoY in local currency terms, mostly due to
strong measures associated with the Operational Excellence initiative.

BANGLADESH ("BANGLALINK")

At the end of 1Q13, banglalink's subscriber base stood at approximately 25.9
million customers, growing by 5% YoY. banglalink's revenues decreased by 13%
YoY, mainly due to lower usage per subscriber resulting from the disconnection
of high value suspected VoIP customers, in compliance with new
self-regulations set by the regulator BTRC. Total disconnections related to
suspected VoIP customers during 1Q13 stood at 527K customers, in addition to
536K customers disconnected during 4Q12. Furthermore, revenues were affected
by the regulator enforced 10 seconds pulse for all packages including
Interactive Voice Response (IVR) services, which was implemented during
September 2012.Mobile data revenues grew by 159% YoY. EBITDA increased 5% YoY,
mainly driven by lower subscriber acquisition cost (SIM tax subsidy) due to
fewer gross additions.

The disconnection of VoIP customers is expected to have a prolonged negative
impact during 2013, as previously highlighted during 4Q12. The YoY development
is expected to be negative in 2013 as a result and EBITDA growth will be under
significant pressure.

SUB SAHARAN AFRICA ("TELECEL GLOBE")

Telecel Globe subscribers increased by 17% YoY to approximately 4.1 million,
while the number of subscribers in Zimbabwe, which is not consolidated,
increased by 33% YoY. In CAR, revenues decreased by 28% YoY in local currency
terms due to the ongoing security situation that followed the armed rebellion.
In Burundi, revenues grew by 3% YoY in local currency terms, mainly driven by
1% growth in subscribers to approximately 1.2 million.

SOUTH EAST ASIA

On April 19^th 2013 VimpelCom announced the sale of its indirect stake in
Sotelco Ltd. in Cambodia to its local partner, Mr. Huot Vanthan. In Laos,
revenues decreased by 2% YoY driven by the lower subscribers base.

AFRICA & ASIA* KEY INDICATORS


USD mln                       1Q13 1Q12 YoY
Total operating revenues      864    927    -7%
Total operating expenditures  452    503    -10%
EBITDA                        412    424    -3%
EBITDA margin                 47.7%  45.7%  -
Capex                         30     69     -56%
Capex / revenues              3%     7%     -
Mobile Subscribers ('000)^**  85,121 83,273 2%

*Africa & Asia operations include operations in Algeria, Pakistan,
Bangladesh, Sub-Saharan Africa and South East Asia.
For details per country unit please see Attachment B
** Following the sale of Vietnam the subscriber numbers for 1Q12 exclude
Vietnam subscribers of 3 million.





AFRICA & ASIA BUSINESS UNIT: COUNTRY DETAIL





ALGERIA


DZD bln                   1Q13 1Q12 YoY
Total operating revenues  34     34     -1%
EBITDA                    20     21     -2%
EBITDA margin             59.2%  60.0%  -



PAKISTAN


PKR bln                   1Q13 1Q12 YoY
Total operating revenues  27     26     5%
EBITDA                    12     11     5%
EBITDA margin             42.3%  42.2%  -



BANGLADESH


BDT bln                   1Q13 1Q12 YoY
Total operating revenues  9      11     -13%
EBITDA                    4      4      5%
EBITDA margin             41.3%  34.0%  -



BUSINESS UNIT UKRAINE – FINANCIAL AND OPERATING RESULTS

  oRevenues increased 3% YoY to UAH 3.2 billion, supported by growth of fixed
    broadband
  oStrong increase in data revenues; mobile data revenues up 8% YoY
  oEBITDA declined 1% YoY to UAH 1.6 billion; EBITDA margin of 49.0%
  oMobile subscriber base grew 11% YoY to 27.5 million
  oFixed broadband subscribers increased 44% YoY to 663 thousand

The Ukraine Business Unit completed the transition of its mobile subscriber
base to bundled tariff plans as of the end of the first quarter, solidifying
its market position in the mobile segment and successfully lowering churn. The
Company's mobile subscriber base increased by 11% YoY to 27.5 million as a
result of its improved market offering and regionalized sales efforts.

  oTotal revenues grew 3% YoY to UAH 3.2 billion.
  oMobile revenues grew 2% YoY to UAH 2.9 billion, driven by increased sales
    of equipment and accessories and strong growth in revenues from value
    added services. ARPU declined by 6% YoY to UAH 35.1 due to the
    transitioning to bundled tariff plans and an increase in the number of
    lower ARPU subscribers in the customer base.
  oFixed-line revenues were up 13% YoY as a result of strong growth in fixed
    residential broadband (FTTB) revenue. As reported in previous quarters,
    FTTB revenue continued to outgrow the market, increasing by 65% YoY driven
    by growth in the fixed broadband subscriber base of 44% YoY to 663
    thousand and 11% YoY growth of fixed broadband ARPU to UAH 50.0.
  oEBITDA decreased 1% YoY to UAH 1.6 billion and EBITDA margin declined 2.1
    p.p. YoY to 49% in 1Q13. The decrease is mainly due to higher commercial
    costs associated with increased sales and an increase in Network & IT
    costs and G&A costs, partially offset by savings in HR costs.
  oCAPEX was UAH 336 million in 1Q13 and LTM CAPEX/Revenues was 14%,
    reflecting a declining trend as a result of reduced investments in the
    FTTB network due to completion of the rollout.



UKRAINE KEY INDICATORS
UAH mln                                  1Q13 1Q12 YoY
Total operating revenues                 3,162  3,079  3%
Total operating expenditures             1,612  1,505  7%
EBITDA                                   1,550  1,574  -1%
EBITDA margin                            49.0%  51.1%  -
Capex                                    336    356    -6%
Capex / revenues                         11%    12%    -
Mobile
Mobile total operating revenues          2,896  2,844  2%
Mobile subscribers ('000)                27,538 24,890 11%
Mobile ARPU (UAH)                        35     37     -6%
MOU (min)                                464    482    -4%
Fixed-line
Fixed-line total operating revenues      265    235    13%
Fixed-line broadband revenues            96     58     64%
Fixed-line broadband subscribers ('000)  663    461    44%
Fixed-line broadband ARPU (UAH)          50     45     11%

BUSINESS UNIT CIS – FINANCIAL AND OPERATING RESULTS

  oRevenues increased by 20% YoY organically, with strong positive impact
    from Uzbekistan
  oEBITDA reached USD 220 million, with organic growth of 38% YoY
  oEBITDA margin expanded 6.4 p.p to 48.8%
  oMobile subscribers increased 16% YoY to 24 million
  oMobile data subscriber base grew 28% YoY to 12.6 million
  oFixed broadband subscriber base increased 41% to 343 thousand

The CIS Business Unit continued to perform strongly in 1Q13, delivering double
digit YoY organic growth in both revenue and EBITDA. Results were
substantially positively impacted by the situation in Uzbekistan following the
network closure of a competitor's network by the Uzbek authorities as of 3Q12.

VimpelCom increased its mobile subscriber base in the CIS by 16% YoY, mainly
driven by 40% growth in subscribers in Uzbekistan. The Company continued to
face particularly strong competition in Kazakhstan, as well as in Armenia and
Kyrgyzstan.

  oIn 1Q13, total revenues grew organically by 20% YoY with the main
    contribution coming from Uzbekistan. Reported revenues grew 19% to USD 451
    million.
    If Uzbekistan would have been adjusted to the growth level of 1H12, the
    revenue organic growth in 1Q13 would have been 7% YoY.
  oTotal mobile revenues increased organically by 21% YoY in 1Q13.
  oFixed-line revenues increased organically by 5% YoY due to strong growth
    in Kazakhstan.
  oEBITDA grew 38% organically and 37% on a reported basis mainly due to
    strong mobile revenue growth in Uzbekistan, but also in Kyrgyzstan and
    Tajikistan. If Uzbekistan would have been adjusted to the growth level of
    1H12, EBITDA organic growth would have been 6%.
  oEBITDA margin improved 6.4 p.p. YoY to 48.8% in 1Q13, with improvement
    primarily due to strong performance in Uzbekistan.
  oLTM CAPEX/Revenues was 21%.

KAZAKHSTAN

The market in Kazakhstan remained highly competitive and VimpelCom is
transitioning its subscriber base to bundled tariff plans to solidify its
market position, impacting revenues. This had a negative impact which is
expected to continue in the coming quarters. Improvements in revenue dynamics
are expected after the transition is completed. The regulator in Kazakhstan
introduced a limitation on tariffs during the first quarter, which led to an
APPM decline, while the MTR was cut by 15%.

Revenues in Kazakhstan increased by 1% YoY in 1Q13. This was driven by a 41%
YoY increase in fixed-line revenues, partially offset by a 1% YoY decline in
mobile service revenues due to decreased voice revenues. Churn in Kazakhstan
is improving as a result of the introduction of a loyalty program and the
Company´s efforts around tariff plans. Mobile data revenues increased 38% YoY
in 1Q13 as a result of the Company´s focus on increasing data usage for small
screens. EBITDA grew 5% YoY and EBITDA margin improved 1.7 p.p. to 46.7%,
supported by a reduction in MTR that led to lower MTR costs, as well as
decreases in commercial costs as a result of the introduction of a revenue
share model with the distribution channel.

UZBEKISTAN

In Uzbekistan, VimpelCom continued to strengthen its market position in 1Q13
after the closure of a competitor´s network started in 3Q12. Revenue was up
100% YoY, driven by a 40% YoY increase in the subscriber base and a 43% YoY
increase in ARPU due to growth of high value subscribers and increasing mobile
data revenues. EBITDA grew 192% YoY and EBITDA margin was 65.2%, a strong
increase from 44.6% in 1Q12. These results were supported by the exceptional
revenue growth and control of structural OPEX. The main focus of management in
Uzbekistan is to sustain quality of service and further improve network
capacity.

KYRGYZSTAN

Kyrgyzstan continued to deliver revenue and EBITDA growth despite a highly
competitive environment. Revenues increased organically by 31% YoY in 1Q13
primarily supported by growth in interconnect revenue due to increased
interconnect rates. Additionally mobile data revenue grew 34% YoY despite a 5%
YoY decline in the subscriber base. EBITDA grew organically by 20% YoY and
EBITDA margin was 51.1%.

ARMENIA

Revenues in Armenia declined organically by 6% YoY in 1Q13, primarily due to
stagnating fixed-line and mobile voice revenues, as well as lower sales of
mobile equipment. The mobile segment faces strong competition and mobile data
revenue growth of 33% did not fully compensate for the 6% YoY decrease in
mobile voice revenue. EBITDA declined 4% YoY and EBITDA margin increased 0.9
p.p. to 39.1%.

TAJIKISTAN

In Tajikistan, revenues increased organically by 39% YoY in 1Q13, while EBITDA
increased by 41% YoY, leading to a 0.6 p.p. increase in EBITDA margin to
42.5%. The mobile subscriber base in Tajikistan increased by 15% YoY and
mobile ARPU increased by 23%, mainly due to growth in interconnect revenue.
Mobile data revenue grew strongly by 39% YoY.

GEORGIA

Georgia delivered strong YoY results in 1Q13, further strengthening its market
position. Subscriber growth was 11% YoY, revenues increased 24% YoY and EBITDA
improved 57% YoY in local currency. EBITDA margin increased 5.8 p.p. YoY to
27.9%, primarily due to an increase in service margin and cost control.



CIS* KEY INDICATORS
USD mln                                  1Q13 1Q12 YoY
Total operating revenues                 451    379    19%
Total operating expenditures             231    218    6%
EBITDA                                   220    161    37%
EBITDA margin                            48.8%  42.4%  -
Capex                                    90     61     48%
Capex / revenues                         20%    16%    -
Mobile
Mobile subscribers ('000)                23,949 20,716 16%
- of which mobile broadband ('000)       12,592 9,800  28%
Fixed
Fixed-line broadband subscribers ('000)  343    243    41%
Fixed-line broadband revenues            15     10     47%

* CIS operations include operations in Kazakhstan, Uzbekistan, Armenia,
Kyrgyzstan, Tajikistan, and Georgia. For details per country unit please see
Attachment B





CIS BUSINESS UNIT: COUNTRY DETAIL





KAZAKHSTAN
KZT mln                   1Q13 1Q12 YoY
Total operating revenues  28,650 28,237 1%
EBITDA                    13,373 12,706 5%
EBITDA margin             46.7%  45.0%  -





UZBEKISTAN
USD mln                   1Q13 1Q12 YoY
Total operating revenues  157   79     100%
EBITDA                    102   35     192%
EBITDA margin             65.2% 44.6%  -

CONFERENCE CALL INFORMATION

On May 15, 2013, the Company will host an analyst & investor conference call
on its first quarter 2013 results. The call and slide presentation may be
accessed at http://www.vimpelcom.com

2:00 pm CET investor and analyst conference call
US call-in number: +1 (877) 616-4476
International call-in number: + 1 (402) 875-4763

The conference call replay and the slide presentations webcast will be
available until May 22, 2013. The slide presentation will also be available
for download on the Company's website.

Investor and analyst call replay
US Replay number: +1 (855) 859-2056
Confirmation Code: 48702527

International replay: +1 (404) 537-3406
Confirmation Code: 48702527

DISCLAIMER

This press release contains "forward-looking statements", as the phrase is
defined in Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These statements relate to the Company's
anticipated performance, refinancing plans and dividend guidelines. The
forward-looking statements included in this presentation are based on
management's best assessment of the Company's strategic and financial position
and of future market conditions and trends. These discussions involve risks
and uncertainties. The actual outcome may differ materially from these
statements as a result of continued volatility in the economies in our
markets, unforeseen developments from competition, governmental regulation of
the telecommunications industries, general political uncertainties in our
markets and/or litigation with third parties. There can be no assurance that
such risks and uncertainties will not have a material adverse effect on the
Company. Certain factors that could cause actual results to differ materially
from those discussed in any forward-looking statements include the risk
factors described in the Company's Annual Report on Form 20-F for the year
ended December 31, 2012 filed with the U.S. Securities and Exchange Commission
(the "SEC") and other public filings made by the Company with the SEC, which
risk factors are incorporated herein by reference. The Company disclaims any
obligation to update developments of these risk factors or to announce
publicly any revision to any of the forward-looking statements contained in
this release, or to make corrections to reflect future events or developments.

ABOUT VIMPELCOM LTD

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, 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 753 million people. VimpelCom provides services
under the "Beeline", "Kyivstar", "djuice", "WIND", "Infostrada" "Mobilink",
"Leo", "banglalink", "Telecel", and "Djezzy" brands. As of March 31, 2013
VimpelCom had 215 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.



CONTENT OF THE ATTACHMENT TABLES


Attachment A  VimpelCom Ltd Financial                              20
                      Statements
Attachment B  Country units key indicators CIS and Africa &        23
                      Asia
Attachment C  Reconciliation Tables                         26
                      Average Rates of Functional Currencies to USD
Attachment D   WIND Telecomunicazioni group condensed financial     27
                      statement of income
Attachment E    Definitions                                         28
For more information on financial and operating data for specific
countries, please refer to the supplementary file Factbook1Q2013.xls on
our website at http://vimpelcom.com/ir/financials/results.wbp





ATTACHMENT A: VIMPELCOM LTD INTERIM FINANCIAL STATEMENTS



VIMPELCOM LTD UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF INCOME


USD mln                                                        1Q13 1Q12^(2)
Total operating revenues                                       5,591  5,619
of which other revenues                                        39     50
Operating expenses
Service costs^(1)(2)                                           1,485  1,541
Selling, general and administrative expenses^(2)               1,758  1,767
Depreciation^(2)                                               766    721
Amortization                                                   454    532
Impairment loss^(2)                                            18     -
Loss on disposals of non-current assets                        3      43
Total operating expenses                                       4,484  4,604
Operating profit                                               1,107  1,015
Finance costs                                                  523    484
Finance income                                                 (22)   (41)
Other non-operating losses                                     26     26
Shares of loss of associates and joint ventures accounted for  65     16
using the equity method
Net foreign exchange gain                                      (28)   (63)
Profit before tax                                              543    593
Income tax expense                                             213    239
Profit for the period                                          330    354
Non-controlling interest                                       (78)   36
Net income attributable to VimpelCom shareholders              408    318

(1)Service costs include costs related to equipment and accessories
(2) Income statement 1Q12 has been amended to reflect classification of
certain operating costs at the Group level without any impact on net income
and performance of the business unit



ATTACHMENT A: VIMPELCOM LTD INTERIM FINANCIAL STATEMENTS

VIMPELCOM LTD UNAUDITED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION


                                                              31 December 2012
USD mln                                        31 March 2013
                                                              Restated *
Assets
Non-current assets
Property and equipment                         14,990         15,666
Intangible assets                              10,214         10,601
Goodwill                                       16,703         16,964
Investments in associates and joint ventures   496            545
Deferred tax asset                             331            312
Financial assets                               1,163          1,091
Other non-financial assets                     29             18
Total non-current assets                       43,926         45,197
Current assets
Inventories                                    224            167
Trade and other receivables                    2,466          2,495
Other non-financial assets                     1,308          1,290
Current income tax asset                       220            292
Other financial assets                         400            270
Cash and cash equivalents                      5,564          4,949
Total current assets                           10,182         9,463
Assets classified as held for sale             183            77
Total assets                                   54,291         54,737
Equity and liabilities
Equity
Equity attributable to equity owners of the    14,410         14,246
parent
Non-controlling interests                      467            503
Total equity                                   14,877         14,749
Non-current liabilities
Financial liabilities                          27,219         25,693
Provisions                                     557            548
Other non-financial liabilities                394            410
Deferred tax liability                         1,349          1,416
Total non-current liabilities                  29,519         28,067
Current liabilities
Trade and other payables                       3,999          4,585
Dividend payables                              -              1,274
Other non-financial liabilities                2,242          2,243
Other financial liabilities                    3,251          3,388
Current income tax payable                     161            202
Provisions                                     170            192
Total current liabilities                      9,823          11,884
Liabilities associated with assets held for    72             37
sale
Total equity and liabilities                   54,291         54,737

* Certain amounts shown here do not correspond to the annual consolidated
financial statements as at 31 December 2012 and reflect adjustments made with
respect to the investment in Euroset. The investment has been revalued in Q4
2012 following the requirements of IAS 28 Investments in Associates increasing
the net result by USD 606 million and currency translation of USD 17 million.
Due the adoption of a new standard IFRS 11 Joint Arrangements in 2013 and its
retrospective application, VimpelCom, based on the applicable IFRS guidance,
had to restate the opening balances to reverse the above mentioned revaluation



ATTACHMENT A: VIMPELCOM LTD INTERIM FINANCIAL STATEMENTS

VIMPELCOM LTD UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS


USD mln
                                                                1Q13    1Q12*
Operating activities
Profit after tax                                                330     354
Tax expense                                                     213     239
Profit before tax                                               543     593
Non-cash adjustment to reconcile profit before tax to net cash
flows:
Depreciation                                                    766     721
Amortization                                                    454     532
Impairment loss                                                 18      -
Loss on disposals of non-current assets                         3       43
Finance income                                                  (22)    (41)
Finance costs                                                   523     484
Other non-operating losses                                      26      26
Net foreign exchange gain                                       (28)    (63)
Share of loss of associate                                      65      16
Movements in provisions and pensions                            27      6
Cash from operations                                            2,375   2,317
Working capital adjustments:
Change in trade and other receivables and prepayments*          (58)    78
Change in inventories                                           (58)    -
Change in trade and other payables*                             (178)   (95)
Interest and income tax:
Interest paid*                                                  (607)   (628)
Interest received                                               26      96
Income tax paid                                                 (226)   (161)
Net cash flows from operating activities                        1,274   1,607
Investing activities:
Proceeds from sale of property, plant and equipment and         26      7
intangible assets
Purchase of property, plant and equipment and intangible        (890)   (872)
assets
Payments of loans granted                                       (36)    (50)
Receipts/(payments) from deposits and loans granted             (148)   1
Other                                                           (6)     (1)
Net cash flows used in investing activities                     (1,054) (915)
Financing activities:
Acquisition of non-controlling interest                         -       (9)
Proceeds from borrowings net of fees paid                       2,027   1,412
Repayment of borrowings                                         (234)   (462)
Dividends paid to equity holders of the parent                  (1,295) -
Net cash flows used in financing activities                     498     942
Net increase in cash and cash equivalents                       718     1,633
Net foreign exchange difference                                 (103)   75
Cash and cash equivalents re-classified as held for sale        -       (128)
Cash and cash equivalents at beginning of period                4,949   2,325
Cash and cash equivalents at end of period                      5,564   3,905

* The amount of Interest paid was amended to reflect its proper
classification without any impact on Net cash from operating activities



ATTACHMENT B: COUNTRY UNITS KEY INDICATORS

AFRICA & ASIA BUSINESS UNIT: COUNTRY DETAIL

ALGERIA
DZD bln                   1Q13 1Q12 YoY
Total operating revenues  34     34     -1%
EBITDA                    20     21     -2%
EBITDA margin             59.2%  60.0%  -
Capex (USD)               9      10     -15%
Capex / revenues (USD)    2%     2%     -
Mobile
Subscribers ('000)        17,931 17,691 1%
ARPU                      630    657    -4%
MOU (min)                 221    269    -18%



PAKISTAN


PKR bln                   1Q13 1Q12 YoY
Total operating revenues  27     26     5%
EBITDA                    12     11     5%
EBITDA margin             42.3%  42.2%  -
Capex (USD)               9      24     -63%
Capex / revenues (USD)    3%     8%     -
Mobile
Subscribers ('000)        36,316 35,788 1%
ARPU                      244    239    2%
MOU (min)                 228    215    6%



BANGLADESH


BDT bln                   1Q13 1Q12 YoY
Total operating revenues  9      11     -13%
EBITDA                    4      4      5%
EBITDA margin             41.3%  34.0%  -
Capex (USD)               12     29     -60%
Capex / revenues (USD)    10%    22%    -
Mobile
Subscribers ('000)        25,921 24,742 5%
ARPU                      119    145    -18%
MOU (min)                 175    217    -19%



SUB SAHARAN AFRICA (TELECEL GLOBE)


USD mln                   1Q13 1Q12 YoY
Total operating revenues  20     22     -9%
EBITDA                    6      6      -3%
EBITDA margin             29.9%  28.1%  -
Mobile
Subscribers ('000)        4,106  3,499  17%







SEA (CONSOLIDATED)


USD mln                   1Q13 1Q12 YoY
Total operating revenues  12     23    -48%
EBITDA                    (1)    (6)   -85%
EBITDA margin             n.a.   n.a.  -
Mobile
Subscribers ('000)        846    1,554 -46%





CIS BUSINESS UNIT: COUNTRY DETAIL

KAZAKHSTAN


KZT mln                   1Q13 1Q12 YoY
Total operating revenues  28,650 28,237 1%
EBITDA                    13,373 12,706 5%
EBITDA margin             46.7%  45.0%  -
Capex (USD)               25     13     91%
Capex / revenues (USD)    13%    7%     -
Mobile
Subscribers ('000)        8,512  8,364  2%
ARPU (KZT)                1,012  1,049  -3%
MOU (min)                 254    180    41%



ARMENIA


AMD mln                   1Q13 1Q12 YoY
Total operating revenues  14,179 15,104 -6%
EBITDA                    5,551  5,766  -4%
EBITDA margin             39.1%  38.2%  -
Capex (USD)               1      3      -61%
Capex / revenues (USD)    4%     8%     -
Mobile
Subscribers ('000)        756    753    0%
ARPU (AMD)                2,446  2,508  -2%
MOU (min)                 295    252    17%



UZBEKISTAN
USD mln                   1Q13 1Q12 YoY
Total operating revenues  157    79     100%
EBITDA                    102    35     192%
EBITDA margin             65.2%  44.6%  -
Capex (USD)               59     38     54%
Capex / revenues (USD)    37%    49%    -
Mobile
Subscribers ('000)        10,303 7,344  40%
ARPU (USD)                5      4      43%
MOU (min)                 425    376    13%



TAJIKISTAN
USD mln                   1Q13 1Q12 YoY
Total operating revenues  29     21     39%
EBITDA                    12     9      41%
EBITDA margin             42.5%  41.9%  -
Capex (USD)               4      3      27%
Capex / revenues (USD)    12%    13%    -
Mobile
Subscribers ('000)        1,161  1,008  15%
ARPU (USD)                8      7      23%
MOU (min)                 235    219    8%



GEORGIA
GEL mln                   1Q13 1Q12 YoY
Total operating revenues  33     27     24%
EBITDA                    9      6      57%
EBITDA margin             27.9%  22.1%  -
Capex (USD)               1      3      -78%
Capex / revenues (USD)    3%     17%    -
Mobile
Subscribers ('000)        971    875    11%
ARPU (GEL)                10     10     6%
MOU (min)                 253    216    17%



KYRGYZSTAN
KGS mln                   1Q13 1Q12 YoY
Total operating revenues  2,093  1,602  31%
EBITDA                    1,069  889    20%
EBITDA margin             51.1%  55.5%  -
Capex (USD)               1      2      -30%
Capex / revenues (USD)    3%     5%     -
Mobile
Subscribers ('000)        2,245  2,373  -5%
ARPU (KGS)                294    223    32%
MOU (min)                 228    272    -16%



CANADA KEY INDICATORS


Mobile              1Q13 1Q12 YoY
Subscribers ('000)  602    415    28%
ARPU (CAD)          31.6   27.3   16%





ATTACHMENT C: RECONCILIATION TABLES

RECONCILIATION OF CONSOLIDATED EBITDA OF VIMPELCOM*


USD mln                                                           1Q13 1Q12**
Unaudited
EBITDA                                                            2,348 2,311
Depreciation                                                      (766) (721)
Amortization                                                      (454) (532)
Impairment loss                                                   (18)  -
Loss on disposals of non-current assets                           (3)   (43)
EBIT                                                              1,107 1,015
Financial Income and Expenses                                     (501) (443)
- including finance income                                     22    41
- including finance costs                                       (523) (484)
Net foreign exchange (loss)/gain and others                       (63)  21
- including Other non-operating losses                          (26)  (26)
- including Shares of loss of associates and joint ventures     (65)  (16)
accounted for using the equity method
- including Net foreign exchange gain                           28    63
EBT                                                               543   593
Income tax expense                                                (213) (239)
Profit for the period                                             330   354
Profit/(loss) for the period attributable to non-controlling      (78)  36
interest
Profit for the period attributable to the owners of the parent    408   318

*See also the supplementary file Factbook1Q2013.xls on our website at
http://vimpelcom.com/ir/financials/results.wbp
**Income statement 1Q12 has been amended to reflect classification of certain
operating costs at the Group level without any impact on net income and
performance of the business unit



ATTACHMENT C: RECONCILIATION TABLES

RECONCILIATION OF VIMPELCOM CONSOLIDATED NET DEBT


USD mln                                                   1Q13 4Q12 1Q12
Net debt                                                  22,861 21,971 24,339
Cash and cash equivalents                                5,564  4,949  4,033
Long - term and short-term deposits                       190    67     219
Gross debt                                                28,615 26,987 28,591
Interest accrued related to financial liabilities         448    536    450
Fair value adjustment                                    -      -      148
Unamortised fair value adjustment under acquisition       62     794    909
method of accounting
Other unamortised adjustments to financial liabilities    749    73     (103)
(fees, discounts etc.)
Derivatives not designated as hedges                      466    453    403
Derivatives designated as hedges                          131    237    173
Total other financial liabilities                         30,471 29,080 30,570



AVERAGE RATES OF FUNCTIONAL CURRENCIES TO USD*
                   Average rates        Closing rates
                   1Q13   1Q12   YoY    1Q13   FY12   Delta
Russian Ruble      30.41  30.03  -1.2%  31.08  30.37  -2.3%
Euro               0.76   0.76   0.6%   0.78   0.76   -2.8%
Algerian Dinar     78.65  75.13  -4.5%  79.50  78.94  -0.7%
Pakistan Rupee     97.89  90.61  -7.4%  98.43  97.14  -1.3%
Bangladeshi Taka   79.06  82.78  4.7%   78.08  79.78  2.2%
Ukrainian Hryvnia  7.99   7.99   0.0%   7.99   7.99   0.0%
Kazakh Tenge       150.67 148.14 -1.7%  150.84 150.74 -0.1%
Armenian Dram      409.15 388.47 -5.1%  418.58 403.58 -3.6%
Kyrgyz Som         47.71  46.71  -2.1%  47.96  47.40  -1.2%

* Functional currencies in Tajikistan, Uzbekistan and Cambodia are USD.



ATTACHMENT D: WIND TELECOMUNICAZIONI GROUP CONDENSED STATEMENTS OF INCOME
EUR mln                                         1Q13   1Q12   Change
Total Revenue                                   1,229    1,346    -9%
EBITDA                                          461      487      -5.4%
D&A                                             (312)    (270)    15.6%
EBIT                                            149      217      -31.5%
Financial Income and expenses                   (207)    (220)    -6.0%
EBT                                             (58)     (3)      n.a.
Income Tax                                      (21)     (38)     -43.6%
Profit/(Loss) from discontinued operations      -        -        -
Net income                                      (79)     (40)     n.a.

ATTACHMENT E: DEFINITIONS

ARPU (Monthly Average Revenue per User) is calculated by dividing service
revenue during the relevant period, including revenue from voice-, roaming-,
interconnect-, and value added services (including mobile data, SMS, MMS), but
excluding revenue from visitors roaming, connection fees, sales of handsets
and accessories and other non-service revenue, by the average number of
subscribers during the period and dividing by the number of months in that
period. For Business Unit Italy visitors roaming revenue is included into
service revenues.

Broadband subscribers are the customer contracts that served as a basis for
revenue generating activity in the three months prior to the measurement date,
as a result of activities including monthly internet access using FTTB and
xDSL technologies as well as mobile internet access via WiFi and USB modems
using 3G/HSDPA technologies. Italian and CIS subsidiaries measure broadband
subscribers based on the number of active contracts signed. Russian Business
Unit includes IPTV activities.

Capital expenditures (CAPEX), purchases of new equipment, new construction,
upgrades, software, other long lived assets and related reasonable costs
incurred prior to intended use of the non current asset, accounted at the
earliest event of advance payment or delivery. Long-lived assets acquired in
business combinations are not included in capital expenditures.

EBIT is a non-U.S. GAAP measure and is calculated as EBITDA plus depreciation,
amortization and impairment loss. Our management uses EBIT as a supplemental
performance measure and believes that it provides useful information of
earnings of the Company before making accruals for financial income and
expenses and Net foreign exchange (loss)/gain and others. Reconciliation of
EBIT to net income attributable to VimpelCom Ltd., the most directly
comparable U.S. GAAP financial measure, is presented above.

EBITDA is a non-U.S. GAAP financial measure. EBITDA is defined as earnings
before interest, tax, depreciation and amortization. VimpelCom calculates
EBITDA as operating income before depreciation, amortization and impairment
loss and includes certain non-operating losses and gains mainly represented by
litigation provisions for all of its Business Units except for its Russia
Business Unit. The Russia Business Unit's EBITDA is calculated as operating
income before depreciation and amortization. EBITDA should not be considered
in isolation or as a substitute for analyses of the results as reported under
U.S. GAAP. Historically our management used OIBDA (defined as operating income
before depreciation, amortization and impairment losses) instead of EBITDA.
Following the acquisition of WIND Telecom, our management concluded that
EBITDA is a more appropriate measure because it is more widely used amongst
European-based analysts and investors to assess the performance of an entity
and compare it with other market players. Our management uses EBITDA and
EBITDA margin as supplemental performance measures and believes that EBITDA
and EBITDA margin provide useful information to investors because they are
indicators of the strength and performance of the Company's business
operations, including its ability to fund discretionary spending, such as
capital expenditures, acquisitions and other investments, as well as
indicating its ability to incur and service debt. In addition, the components
of EBITDA include the key revenue and expense items for which the Company's
operating managers are responsible and upon which their performance is
evaluated. EBITDA also assists management and investors by increasing the
comparability of the Company's performance against the performance of other
telecommunications companies that provide EBITDA information. This increased
comparability is achieved by excluding the potentially inconsistent effects
between periods or companies of depreciation, amortization and impairment
losses, which items may significantly affect operating income between periods.
However, our EBITDA results may not be directly comparable to other companies'
reported EBITDA results due to variances and adjustments in the components of
EBITDA (including our calculation of EBITDA) or calculation measures.
Additionally, a limitation of EBITDA's use as a performance measure is that it
does not reflect the periodic costs of certain capitalized tangible and
intangible assets used in generating revenues or the need to replace capital
equipment over time. Reconciliation of EBITDA to net income attributable to
VimpelCom Ltd., the most directly comparable U.S. GAAP financial measure, is
presented above.

EBITDA margin is calculated as EBITDA divided by net operating revenues,
expressed as a percentage.

Households passed are households located within buildings, in which indoor
installation of all the FTTB equipment necessary to install terminal
residential equipment has been completed.

LLU (local loop unbundling), in Italy, this is the regulatory process of
allowing multiple telecommunications operators to use connections from Telecom
Italia's local exchanges to the customer's premises.

MNP (Mobile number portability) is a facility provided by telecommunications
operators which enables customers to keep their telephone numbers when they
change operators.

Mobile subscribers are SIM-cards registered in the system as of a measurement
date, users of which generated revenue at any time during the three months
prior to the measurement date. This includes revenue coming from any incoming
and outgoing calls, subscription fee accruals, debits related to service,
outgoing SMS, Multimedia Messaging Service (referred to as MMS), data
transmission and receipt sessions, but does not include incoming SMS and MMS
sent by VimpelCom or abandoned calls. VimpelCom's total number of mobile
subscribers also includes SIM-cards for use of mobile Internet service via USB
modems and subscribers for WiFi. The number for Italy is based on SIM-cards,
users of which generated revenue at any time during the twelve months prior to
the measurement date. For the purpose of this earnings release, we include all
subscribers of Zimbabwe, which is accounted for as investment at cost, into
Business Unit Africa & Asia and subscribers of all our Canada equity investee
into Business Unit Europe and North America, both of which are included into
total subscribers of VimpelCom.

MOU (Monthly Average Minutes of Use per User) is calculated by dividing the
total number of minutes of usage for incoming and outgoing calls during the
relevant period (excluding guest roamers) by the average number of mobile
subscribers during the period and dividing by the number of months in that
period.

Net debt is a non-U.S. GAAP financial measure and is calculated as the sum of
interest bearing long-term debt and short-term debt minus cash and cash
equivalents, long-term and short-term deposits and fair value hedge. The
Company believes that net debt provides useful information to investors
because it shows the amount of debt outstanding to be paid after using
available cash and cash equivalent and long-term and short-term deposits. Net
debt should not be considered in isolation as an alternative to long-term debt
and short-term debt, or any other measure of the company financial position.
Reconciliation of net debt to long-term debt and short-term debt, the most
directly comparable U.S. GAAP financial measures, is presented below in the
reconciliation tables section.

Net foreign exchange (loss)/gain and others represents the sum of Net foreign
exchange (loss)/gain, Equity in net (loss)/gain of associates and Other
(expense)/income, net (primarily losses from derivative instruments), and is
adjusted for certain non-operating losses and gains mainly represented by
litigation provisions. Our management uses Net foreign exchange (loss)/gain
and others as a supplemental performance measure and believes that it provides
useful information about the impact of our debt denominated in foreign
currencies on our results of operations due to fluctuations in exchange rates,
the performance of our equity investees and other losses and gains the Company
needs to manage to run the business.

Organic growth Revenue and EBITDA are non-U.S. GAAP financial measures that
reflect changes in Revenue and EBITDA excluding foreign currency movements and
other factors, such as business under liquidation, disposals, mergers and
acquisitions. We believe investors should consider these measures as they are
more indicative of our ongoing performance and management uses these measures
to evaluate the Company's operational results and trends.

Reportable segments, the Company identified Russia, Italy, Africa & Asia, CIS
and Ukraine based on the business activities in different geographical areas.
Although Georgia is no longer a member of the CIS, consistent with VimpelCom's
historic reporting practice VimpelCom continues to include Georgia in its CIS
reporting segment. Intersegment revenues are eliminated in consolidation.

Service costs, represents costs directly associated with revenue generating
activity such as traffic related expenses, cost of content and sim-cards as
well as cost of handsets, telephone equipment and accessories sold.

Selling, general and administrative expenses, represents expenses associated
with customer acquisition and retention activities, network and IT
maintenance, regular frequency payment, professional and consulting support,
rent of premises, utilities, personnel and outsourcing as well as other
general and administrative expenses . These expenses do not include personnel
costs that have been capitalized as part of long-lived assets.



SOURCE VimpelCom Ltd.

Website: http://www.vimpelcom.com
Contact: INVESTOR RELATIONS, Gerbrand Nijman,
Investor_Relations@vimpelcom.com, Tel: +31 20 79 77 200 (Amsterdam), or Remco
Vergeer, Investor_Relations@vimpelcom.com, Tel: +31 20 79 77 200 (Amsterdam),
or Stefano Songini, ir@mail.wind.it, Tel +39 06 83111 (Rome), or Mamdouh Abd
Elwahab, otinvestorrelations@otelecom.com, Tel: +202 2461 5050 / 51 (Cairo),
or MEDIA AND PUBLIC RELATIONS: Bobby Leach, pr@vimpelcom.com, Tel: +31 20 79
77 200 (Amsterdam)