Cheglygbashev AlexanderHead of Inter-operator Cooperation department

Armentel and Armenian market

Major latest developments establishes Vimpelcom Ltd as world’s sixth largest mobile telecommunications provider:

■ Apr 15, 2011: Vimpelcom completes combination with Wind Telecom■ Oct 15, 2010: OJSC VimpelCom and Kyivstar GSM transaction to combine under VimpelCom Ltd

VimpelCom: At a Glance

■ Provides voice and data services through a range of wireless, fixed, and broadband technologies under the “Beeline”, “Kyivstar”, “djuice”, “Wind”, “Infostrada” “Mobilink”, “Leo”, “Banglalink”, “Telecel”, and “Djezzy” brands

■ Global operations covering total population of about 843 million people: Russia, Ukraine, Armenia, Kazakhstan, Uzbekistan, Tajikistan, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Namibia, Central African Republic, Italy and Canada

■ 181 million subscribers worldwide

■ Listed as an ADS on the New York Stock Exchange under the ticker "VIP"

FIVE BUSINESS UNITSFIVE BUSINESS UNITS

Main focus – Data services as a driver of usage and profitability

Benefits of an integrated carrier are among the major factors for successin conditions of avalanche data traffic growth:

VimpelCom: Enhanced Platform for Global Growth

■ Transport network: 107’000 km of backbone network (without local intra-city networks) by the end of 2010: the largest terrestrial network in Russia and CIS

■ Interconnection and interoperation with other providers: more than 400 ISP networks have interconnections to Vimpelcom backbone as an IP Transit customers

Vimpelcom has solid setup in Fixed-line operations to deliver further development in these areas:

Russia Fixed-line Revenue, RUR bn

9.9 9.9 9.5 9.9 10.5 10.7

3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10

+8.3% y-o-y+2.3% q-o-q

5.0 4.8 4.5 4.6 4.8 4.9

3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10

Business segment, RUR bn

3.5 3.6 3.4 3.7 4.0 3.9

3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10

Wholesale segment, RUR bn

0,9 1,1 1,2 1,2 1,21,5

3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10

Residential segment revenue, RUR bn

+1.8% y-o-y+1.1% q-o-q

+9.3% y-o-y–2.5% q-o-q

+26.3% y-o-y+17.1% q-o-q

VimpelCom: Map of Operations in Eurasia

*CIA – The World Factbook

Population and Penetration figures are provided by © 2011 Informa Telecoms&Media

… … $10$10,,5 billion total net operating revenue5 billion total net operating revenue

International network: Western Backbone

International backbone network used capacity –

170 GBps; will be expanded to 300 GBps in 2011

•Direct interconnects with leading worldwide carriers

•Presence at main peering points (IX)

• London (LINX)

• Amsterdam (AMS-IX)

• Frankfurt on the Main (DEC-IX)

• Stockholm (Netnode)

• Ashburn (Equinix)

Moscow

Frankfurt on the Main Stockholm

AmsterdamLondon

Tier #1

DEC-IX

LINX

Tier #2

AMS-IX

Tier #3

Tier #4

Peering Points (IX) St.-Petersburg

International Network resources:• Stockholm: up to 200 Gbps• London: 15 Gbps• Frankfurt on the Main: 70 Gbps• New York: 10 Gbps• Hong Kong: 10 Gbps

Moscow

Kiyiv

Frankfort on the Main

London

Stockholm

Brussels

Vienna

BudapestSalzburg

MunichUzhgorod

Lviv

Hamburg

Riga

VilniusMinsk

St.-Petersburg

Helsinki

To New York

To New York

To Hong Kong

Ukraine

Russia

To Iran, Armenia

Amsterdam

CJSC “ArmenTel”: About Company

■Since 2006 - 100% subsidiary of the Vimpelcom

■Full set of the telecommunication licenses including the licenses for mobile and fix telephony, Internet and data services, the dominating operator of Armenia

■Subscribers: - mobile - active base over 670,000 - fixed - active base over 600,000 - broadband - over 110,000

■The company has its own fiber optic infrastructure over the Armenia and international interconnections with Georgia and Iran: - length of total subscriber network cables - about 15’850 km - length of the fiber optic network cables - about 2’650 km.

■Financial results for 2010: - Net operational revenue - $ 182.4 mln - OIBDA - $ 78.2 mln

CJSC “ArmenTel”: Network

Services for International Carriers - Total network capacity – 40Gb- Technology - FOC: DWDM, IP/MPLS, SDH- TDM channels: up to STM-64 capacity- Ethernet channels: up to 10Gb capacity

FOC interconnection to:- FoptNet - TIC (Iran)- SilkNet - Caucasus Online - DeltaCom

Broadband Internet capacity:- Over 10 Gbps (fast upgrade: up to 20 Gbps availability)- International Internet capacity all providers on the end of 2010 –

4.35Gb (according to source: Telegeography)

Development: - Interconnection with Turkey Networks- Network expansion -additional (backup) line construction- Broadband Internet usage permanent increase by ArmenTel’s

own subscribers

The largest carrier in Armenia. Interconnection points with international networks

CJSC “ArmenTel”: Summary

■ Own FOC Network, advanced technologies

■ Interconnections with multiple International operators, permanent development

■ Reliability, Qualified network maintenance (24x7), qualified personnel

■ Flexible prices, market oriented

■ Represents Beeline brand and implements “Vimpelcom” Group of companies strategy and projects in region

■ Alexander Cheglygbashev■ Acheglygbashev@beeline.am

Thank you!