VimpelCom in Discussions for Investment to Develop Regional GSM-900/1800 Licenses

Apr 04, 2001, 01:00 ET from VimpelCom

    MOSCOW and NEW YORK, April 4 /PRNewswire/ -- Open Joint Stock Company
 "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE:   VIP), a leading
 provider of telecommunications services in Russia, responding to Russian press
 reports, confirmed today that it and its affiliates are in discussions
 regarding a potential investment with respect to its regional licensed
 territories with various investors, including Alfa Eco, part of the Alfa
 Group, and current shareholders. VimpelCom emphasizes that these discussions
 may not lead to or result in final agreements or any investment by any
 investor.
     VimpelCom is a leading wireless telecommunications service company in
 Russia, operating under the "Bee Line" family of brand names, which are among
 the most recognized brand names in Russia.  VimpelCom's license portfolio
 covers approximately 70% of Russia's population (100 million people),
 including the City of Moscow and the Moscow Region, which is the Company's
 primary market.  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".  VimpelCom's convertible notes are listed on the NYSE
 under the symbol "VIP 05."
 
     This press release contains "forward-looking statements," as the phrase is
 defined in Section 27A of the Securities Act and Section 21E of the Exchange
 Act.  These statements relate to the Company's development and are based on
 Management's best assessment of the Company's strategic and financial position
 and of future market conditions and trends.  These discussions involve risks
 and uncertainties.  The actual outcome may differ materially from these
 statements as a result of unforeseen developments from competition,
 governmental regulations of the wireless telecommunications industry, general
 political uncertainties in Russia and general economic developments in Russia
 and other factors.  As a result of such risks and uncertainties, there can be
 no assurance that the effects of competition or current or future changes in
 the political, economic and social environment or current or future regulation
 of the Russian telecommunications industry will not have a material adverse
 effect on the VimpelCom Group.  Certain factors that could cause actual
 results to differ materially from those discussed in any forward-looking
 statements include the risks described in the Company's Annual Report on Form
 20-F for the year ended December 31, 1999 and other public filings made by the
 Company with the United States Securities and Exchange Commission, which risk
 factors are incorporated herein by reference.  VimpelCom disclaims any
 obligation to update developments of these risk factors or to announce
 publicly any revision to any of the forward-looking statements contained in
 this release, or to make corrections to reflect future events or developments.
 
     For more information, please contact:
     Valery Goldin                            Sigrid Peterson
     VimpelCom (Moscow)                       Edelman Financial Worldwide
     Tel: 7(095) 974-5888                     Tel: (212) 704-8284
     vgoldin@vimpelcom.com                    sigrid_peterson@edelman.com
     website: http://www.vimpelcom.com
 
 

SOURCE VimpelCom
    MOSCOW and NEW YORK, April 4 /PRNewswire/ -- Open Joint Stock Company
 "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE:   VIP), a leading
 provider of telecommunications services in Russia, responding to Russian press
 reports, confirmed today that it and its affiliates are in discussions
 regarding a potential investment with respect to its regional licensed
 territories with various investors, including Alfa Eco, part of the Alfa
 Group, and current shareholders. VimpelCom emphasizes that these discussions
 may not lead to or result in final agreements or any investment by any
 investor.
     VimpelCom is a leading wireless telecommunications service company in
 Russia, operating under the "Bee Line" family of brand names, which are among
 the most recognized brand names in Russia.  VimpelCom's license portfolio
 covers approximately 70% of Russia's population (100 million people),
 including the City of Moscow and the Moscow Region, which is the Company's
 primary market.  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".  VimpelCom's convertible notes are listed on the NYSE
 under the symbol "VIP 05."
 
     This press release contains "forward-looking statements," as the phrase is
 defined in Section 27A of the Securities Act and Section 21E of the Exchange
 Act.  These statements relate to the Company's development and are based on
 Management's best assessment of the Company's strategic and financial position
 and of future market conditions and trends.  These discussions involve risks
 and uncertainties.  The actual outcome may differ materially from these
 statements as a result of unforeseen developments from competition,
 governmental regulations of the wireless telecommunications industry, general
 political uncertainties in Russia and general economic developments in Russia
 and other factors.  As a result of such risks and uncertainties, there can be
 no assurance that the effects of competition or current or future changes in
 the political, economic and social environment or current or future regulation
 of the Russian telecommunications industry will not have a material adverse
 effect on the VimpelCom Group.  Certain factors that could cause actual
 results to differ materially from those discussed in any forward-looking
 statements include the risks described in the Company's Annual Report on Form
 20-F for the year ended December 31, 1999 and other public filings made by the
 Company with the United States Securities and Exchange Commission, which risk
 factors are incorporated herein by reference.  VimpelCom disclaims any
 obligation to update developments of these risk factors or to announce
 publicly any revision to any of the forward-looking statements contained in
 this release, or to make corrections to reflect future events or developments.
 
     For more information, please contact:
     Valery Goldin                            Sigrid Peterson
     VimpelCom (Moscow)                       Edelman Financial Worldwide
     Tel: 7(095) 974-5888                     Tel: (212) 704-8284
     vgoldin@vimpelcom.com                    sigrid_peterson@edelman.com
     website: http://www.vimpelcom.com
 
 SOURCE  VimpelCom