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Press release from PR Newswire

VimpelCom Group Issues Ruble Bonds in the Amount of Approximately $658 Million

Wednesday, October 20, 2010

VimpelCom Group Issues Ruble Bonds in the Amount of Approximately $658 Million11:29 EDT Wednesday, October 20, 2010AMSTERDAM, Oct. 20 /PRNewswire/ -- "VimpelCom Ltd" ("VimpelCom" or the "Company") (NYSE: VIP), today announced that on October 19, 2010 it issued Russian ruble-denominated bonds through LLC VimpelCom-Invest, a consolidated Russian subsidiary of VimpelCom, in an aggregate principal amount of 20 billion Russian rubles, which is the equivalent of approximately $658 million at today's Central Bank of Russia exchange rate. The bonds are guaranteed by OJSC "Vimpel-Communications," a subsidiary of VimpelCom Ltd. The bonds have five-year maturity and bear an annual interest rate of 8.3%. The proceeds of the offering will be used for financing development and expansion of OJSC VimpelCom's core business.This release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities will not be registered under the Securities Act of 1933, as amended (the "Securities Act"). Unless and until so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.VimpelCom Ltd. consists of telecommunications operators providing voice and data services through a range of wireless, fixed and broadband technologies. The VimpelCom Ltd. group is headquartered in Amsterdam and has operations in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Georgia, Armenia, Kyrgyzstan, Vietnam and Cambodia, covering territory with a total population of about 345 million. VimpelCom Ltd. operating companies provide services under the "Beeline" and "Kyivstar" brands. VimpelCom Ltd.'s ADSs are listed on the New York Stock Exchange under the symbol "VIP."SOURCE VimpelCom Ltd.For further information: Alexey Subbotin, VimpelCom, +31(0)20-3012240 (Amsterdam), +7-495-974-5888 (Moscow), Investor_Relations@vimpelcom.com; or Mateo Millett, FD, +1-617-897-1533, mateo.millett@fd.com