VimpelCom EGM does not have quorum
Moscow and New York (August 15, 2005) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP) , today announced that there was not a quorum at this evening's Extraordinary General Meeting of Shareholders (the "EGM") convened by Eco Telecom Limited, a part of the Alfa group of companies, in Moscow, Russia.
This evening, only approximately 39% of our voting shares were present, but VimpelCom's Charter and Russian law require more than 50% of the total number of our outstanding voting shares to be represented at a shareholders meeting in order for the quorum requirement to be met. Eco Telecom Limited, a part of the Alfa group of companies, did not attend the meeting.
VimpelCom is a leading international provider of telecommunications services, operating under the "Beeline" brand in Russia and Kazakhstan. In addition, VimpelCom is continuing to use the "K-mobile" and "EXCESS" brands in Kazakhstan. The VimpelCom Group's license portfolio covers approximately 94% of Russia's population (136.5 million people), including the City of Moscow, the Moscow Region and the City of St. Petersburg as well as the entire territory of Kazakhstan. VimpelCom was the first Russian company to list its shares on the New York Stock Exchange ("NYSE"). VimpelCom's shares are listed on the NYSE under the symbol "VIP".
For more information, please contact:
Ian Bailey/Michael Polyviou