Amsterdam and New York (September 2, 2010) - “VimpelCom Ltd” (“VimpelCom” or the “Company”) (NYSE: VIP), a leading international provider of telecommunications services, today announced its operating and financial results for the quarter ended June 30, 2010.

Quarterly highlights:

- Combination of OJSC VimpelCom and Kyivstar into VimpelCom Ltd. completed April 21, 2010*
- Number of mobile subscriptions up to 89.4 million; broadband subscriptions grew to 2.7 million
- Net operating revenues increased by 23% year-on-year to $2.64 billion
- Adjusted OIBDA** reached $1.26 billion, consolidated OIBDA margin comprised 47.8%
- Net income attributable to VimpelCom was $334.7 million
- Operating cash flow amounted to $1.0 billion

*  On April 21, 2010, following the successful completion of VimpelCom’s exchange offer for common and American depositary shares of OJSC VimpelCom, VimpelCom’s two strategic shareholders completed the acquisition of OJSC VimpelCom and Kyivstar by VimpelCom Ltd. This transaction was accounted for as the acquisition of Kyivstar by VimpelCom Ltd., an accounting successor of OJSC VimpelCom. Therefore, the financial results of Kyivstar have been included in the consolidated financial results of the Company since April 21, 2010. The financial results for the periods prior to April 21, 2010 represent the historical financial results of OJSC VimpelCom.

** Hereafter Adjusted OIBDA is referred to as OIBDA and Adjusted OIBDA margin is referred to as OIBDA margin (See definitions of Adjusted OIBDA and Adjusted OIBDA margin in Attachment A)