Moscow and New York (December 14, 2005) - Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), today announced that after being unable to reach unanimous agreement on the proposed 2006 annual budget at today's Board meeting, the Board decided to work constructively with management to resolve all remaining budget issues in order to try and obtain final Board approval for the 2006 budget in early 2006.

Until such final Board approval, the Company's management will operate its business in accordance with the 2006 consolidated budget that it proposed at today's Board meeting. In addition, until such time as the 2006 annual consolidated budget is approved by the Board, the Company's management will endeavor to update the Board on a more frequent basis concerning the Company's operations and capital expenditures.

VimpelCom has always prided itself on being a transparent company and maintains that previous public disclosures made by it in connection with the URS acquisition have been consistent with this approach and VimpelCom's relevant disclosure obligations.

VimpelCom is a leading international provider of mobile telecommunications services in Russia and Kazakhstan, with newly acquired operations in Ukraine. The VimpelCom Group's license portfolio covers approximately 200 million people. Geographically it covers 78 regions in Russia (with 136.5 million people, representing 94% of Russia's population) as well as the entire territory of Kazakhstan and Ukraine. VimpelCom was the first Russian company to list its shares on the New York Stock Exchange ("NYSE"). VimpelCom's ADSs are listed on the NYSE under the symbol "VIP".