OJSC VimpelCom announces the exercise of a put option by holders of its ruble-denominated bonds due March 14, 2022

Amsterdam (March 27, 2015) - VimpelCom Ltd. (“VimpelCom”, “the Company” or “the Group”) (NASDAQ: VIP), a leading global provider of telecommunications services with operations in 14 countries and headquartered in Amsterdam, and its subsidiary OJSC “Vimpel-Communications” (“OJSC VimpelCom”) today announce the exercise of a put option by holders of the 8.85% RUB 10 billion bonds (approximately USD 0.2 billion) due March 14, 2022 issued by OJSC VimpelCom (the “Bonds”). The Bonds were issued on March 26, 2012 with a 10-year maturity, subject to a put option in 3 years. Holders of the Bonds exercised the put option for a total amount of RUB 9.99 billion (approximately USD 0.2 billion) or 99% of the Bonds.

About VimpelCom

VimpelCom, an international telecoms company operating in 14 countries and headquartered in Amsterdam, 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, and Zimbabwe. VimpelCom’s operations around the globe cover territory with a total population of approximately 740 million people. VimpelCom provides services under the "Beeline", "Kyivstar", “WIND”, "Infostrada" “Mobilink”, “banglalink”, “Telecel”, and “Djezzy” brands. As of December 31, 2014, VimpelCom had 222 million mobile customers on a combined basis. VimpelCom is traded on the NASDAQ Global Select Market under the symbol (VIP). For more information visit: www.vimpelcom.com

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