VimpelCom Announces Payment of an Interim Dividend

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^{Published in Stocks and Investing on Monday, November 15th 2010 at 1:40 GMT by Market Wire}  

VimpelCom Announces Payment of an Interim Dividend -- AMSTERDAM and NEW YORK, Nov. 15, 2010 /PRNewswire-FirstCall/ --

AMSTERDAM and NEW YORK, Nov. 15, 2010 /PRNewswire-FirstCall/ -- VimpelCom Ltd. ("VimpelCom" or the "Company") (NYSE: VIP), a leading international provider of telecommunications services, announced that today its Supervisory Board declared the payment of an interim dividend of US$0.46 per American depositary share ("ADS") amounting to a total interim dividend payment of approximately US$600,000,000.  Each ADS represents one common share.  The interim dividend is being paid in accordance with VimpelCom's dividend policy and takes into account the results of the Company's Russian subsidiary, OJSC "Vimpel-Communications", for the last three months of 2009.

The record date for the Company's shareholders entitled to receive interim dividends has been set for November 29, 2010.  The Company will make appropriate tax withholdings of up to 15% when the dividend is paid to the Company's ADS depositary, The Bank of New York Mellon.  The dividend will be paid by the Company before December 31, 2010.

Commenting on today's announcement, Alexander Izosimov, Chief Executive Officer of VimpelCom, said, "We are pleased to announce this interim dividend, which underscores our commitment to the payment of regular and meaningful dividends to our shareholders. The strength and consistency of our cash flows allows us the financial flexibility to continue returning value to shareholders, while investing in the longer-term growth and development of our business."

VimpelCom Ltd. consists of telecommunications operators providing voice and data services through a range of wireless, fixed and broadband technologies. The VimpelCom Ltd. group is headquartered in Amsterdam and has operations in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Georgia, Armenia, Kyrgyzstan, Vietnam and Cambodia, covering territory with a total population of about 345 million. As of June 30, 2010, the VimpelCom Ltd. group had a total of 89.4 million mobile subscribers and US$2.64 billion of net operating revenues.  VimpelCom Ltd. operating companies provide services under the "Beeline" and "Kyivstar" brands. VimpelCom Ltd.'s ADSs are listed on the New York Stock Exchange under the symbol "VIP".

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SOURCE VimpelCom Ltd.