Moscow and New York (May 15, 2006) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP) today announced that the Moscow Arbitration Court has ruled in favor of VimpelCom in one of the lawsuits filed by Telenor East Invest AS.  The Company is pleased with the court’s decision which upheld the validity of the September 2005 shareholder vote which approved the acquisition of CJSC "Ukrainian Radio Systems" ("URS") as an interested party transaction.

Commenting on the decision of the court, VimpelCom’s Chairman, David Haines, said, “We are very pleased that the Moscow Arbitration Court ruled in VimpelCom’s favor and refused to invalidate the EGM decision. An overwhelming 89% of our public shareholders who voted at the EGM voted in favor of the URS acquisition after an open and thorough public debate.  It is my hope that this decision and the prior vote of the shareholders send a clear message to Telenor that it is time to act in the best interests of all the shareholders in VimpelCom and withdraw their remaining lawsuits against the Company.”

Today’s court ruling is subject to appeal and Telenor has announced its intention to appeal.