Moscow and New York (October 12, 2007) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), is pleased to announce that once again it was named the winner of the Best IR by a Russian Company Award at the 9th annual IR Magazine Continental Europe Awards 2007 on October 11, 2007 in Paris, France. 


"I would like to thank the fund managers and analysts whose confidence and support secured our victory of prestigious “Best IR by a Russian Company Award” from IR Magazine for the fifth consecutive year," said Alexander Izosimov, Chief Executive Officer of VimpelCom. “We consider this award as a proof that our continuous efforts to implement best standards of transparency, corporate governance and protection of investor rights are consistently bearing fruits and being acknowledged and appreciated by the investment community."

The IR Magazine awards are recognized worldwide as among the most accurate and reliable measures of excellence and accomplishment in the fields of investor relations and corporate governance. IR Magazine commissions an independent research survey covering a broad cross-section of the Continental European investment community. The target group, consisting of more than 500 buy-side analysts, sell-side analysts and portfolio managers, has been interviewed to provide a comprehensive insight into current investor sentiment toward IR issues in the Continental European market.

The VimpelCom Group includes companies operating in Russia, Kazakhstan, Ukraine, Uzbekistan, Tajikistan, Georgia and Armenia. The VimpelCom Group's GSM and 3G license portfolio covers a territory with a population of about 250 million. This includes the entire territories of Russia, Kazakhstan, Ukraine, Uzbekistan, Tajikistan, Georgia and Armenia. VimpelCom was the first Russian company to list its shares on the New York Stock Exchange ("NYSE"). VimpelCom's ADSs are listed on the NYSE under the symbol "VIP".


For more information, please contact: 


Alexander Boreyko 
Tel: 7 (495) 910-5977
Peter Schmidt/Michael Polyviou 
Financial Dynamics
Tel: 1 (212) 850-5600