Amsterdam(May 15, 2012) - “VimpelCom Ltd” (“VimpelCom”, “Company” or “Group”) (NYSE: VIP), a leading global provider of telecommunications services, today announces operating and financial results for the quarter ended March 31, 2012.

JO LUNDER, CHIEF EXECUTIVE OFFICER, COMMENTS:
“We have delivered strong organic EBITDA and revenue growth leading to another quarter of good cash flows. The benefits of executing on our strategy can be seen across our businesses: in Russia, our focus on profitable growth has delivered a strong organic increase of 9% in EBITDA and 11% in revenues. In the Africa & Asia business unit organic revenues rose by 9%, with a particularly strong contribution from Pakistan. In Italy we again gained market share, outperforming our competitors and our Ukraine and our CIS business units delivered solid revenue increases. We will continue to review our portfolio of operations and we will remain focused on profitable growth and cash generation.”