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Press release from PR Newswire

VimpelCom Will Not Exercise Euroset Call Option

Wednesday, December 21, 2011

VimpelCom Will Not Exercise Euroset Call Option13:35 EST Wednesday, December 21, 2011AMSTERDAM, Dec. 21, 2011 /PRNewswire/ -- VimpelCom Ltd. ("VimpelCom" or "the Company") (NYSE: VIP) announced today that the Company has decided not to exercise its call option to acquire an additional 24.95% stake in Euroset Holding N.V. ("Euroset").  Euroset owns 100% of LLC Torgoviy Dom Euroset, a leading telecommunications retailer in Russia. VimpelCom owns 49.9% of the Euroset group since October 2008. VimpelCom's partnership with Euroset has been and will continue to be a substantial part of VimpelCom's distribution strategy in that market.About VimpelComVimpelCom is one of the world's largest integrated telecommunications services operators offering a wide range of wireless, fixed, and broadband services in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic, Italy and Canada. VimpelCom's operations around the globe cover territory with a total population of approximately 864 million people. VimpelCom provides services under the "Beeline", "Kyivstar", "djuice", "Wind", "Infostrada" "Mobilink", "Leo", "banglalink", "Telecel", and "Djezzy" brands. VimpelCom has more than 200 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.SOURCE VimpelCom Ltd.For further information: Investor Relations: VimpelCom Ltd., Gerbrand Nijman, Investor_Relations@vimpelcom.com, +31 (0)20 79 77 203 (Amsterdam); Media and Public Relations: VimpelCom Ltd., Elena Prokhorova, pr@vimpelcom.com, +7(495) 725-0708 (Moscow)