| Moscow and New York (June 25, 2007) — Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), today announced that the Court of Appeals affirmed the December 14, 2006 ruling of the Moscow Arbitration Court in favor of VimpelCom in one of the claims by Telenor East Invest AS.
VimpelCom is satisfied with the order of the court which once again denies Telenor’s claim challenging the acquisition of CJSC “Ukrainian Radio Systems” (“URS”) and seeking to unwind the acquisition.
An appeal of today's ruling may be filed with the Federal Arbitration Court.
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