OREANDA-NEWS. April 16, 2008. Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), today announced that its Board of Directors (the “Board”) set the date for the Company’s 2008 Annual General Meeting of Shareholders based on 2007 results (the “Shareholders Meeting”) for June 9, 2008.

The Board also recommended that the Shareholders Meeting approve annual dividends of RUR 270.01 per ordinary share of VimpelCom stock (or approximately US\\$0.58 per American Depositary Share (“ADS”) based on the Russian Central Bank exchange rate as of April 16, 2008) for the 2007 fiscal year, amounting to a total of RUR 13.8 billion (or approximately US\\$ 588 million based on the Russian Central Bank exchange rate as of April 16, 2008), to be payable within 60 days of the approval at the Shareholders Meeting.  The record date for the Company’s shareholders entitled to participate in the Shareholders Meeting and to receive dividends for 2007 has been set for April 30, 2008.  The approval of the shareholders owning more than 50% of the voting shares represented at the Shareholders Meeting is required for the payment of dividends by VimpelCom.  If the dividends are approved by the requisite majority at the Shareholders Meeting, VimpelCom will, in accordance with Russian tax legislation, withhold a tax of up to 15% on the dividend amount when payable.  The exact amount of the withholding will vary depending on the recipient’s legal status and jurisdiction.

Further details on the agenda and other issues related to the Shareholders Meeting will be made available through an official notice to be distributed by VimpelCom to its shareholders prior to the Shareholders Meeting.