Cheglygbashev Alexander Head of Inter-operator Cooperation department Armentel and Armenian market

Major latest developments establishes Vimpelcom Ltd as world’s sixth largest mobile telecommunications provider: ■ Apr 15, 2011: Vimpelcom completes combination with Wind Telecom ■ Oct 15, 2010: OJSC VimpelCom and Kyivstar GSM transaction to combine under VimpelCom Ltd VimpelCom: At a Glance ■ Provides voice and data services through a range of wireless, fixed, and broadband technologies under the “Beeline”, “Kyivstar”, “djuice”, “Wind”, “Infostrada” “Mobilink”, “Leo”, “Banglalink”, “Telecel”, and “Djezzy” brands ■ Global operations covering total population of about 843 million people: Russia, Ukraine, Armenia, Kazakhstan, Uzbekistan, Tajikistan, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Namibia, Central African Republic, Italy and Canada ■ 181 million subscribers worldwide ■ Listed as an ADS on the New York Stock Exchange under the ticker "VIP" FIVE BUSINESS UNITS

Main focus – Data services as a driver of usage and profitability Benefits of an integrated carrier are among the major factors for success in conditions of avalanche data traffic growth: VimpelCom: Enhanced Platform for Global Growth ■ Transport network: 107’000 km of backbone network (without local intra-city networks) by the end of 2010: the largest terrestrial network in Russia and CIS ■ Interconnection and interoperation with other providers: more than 400 ISP networks have interconnections to Vimpelcom backbone as an IP Transit customers Vimpelcom has solid setup in Fixed-line operations to deliver further development in these areas: Russia Fixed-line Revenue, RUR bn +8.3% y-o-y +2.3% q-o-q Business segment, RUR bn Wholesale segment, RUR bn Residential segment revenue, RUR bn +1.8% y-o-y +1.1% q-o-q +9.3% y-o-y –2.5% q-o-q +26.3% y-o-y +17.1% q-o-q

VimpelCom: Map of Operations in Eurasia *CIA – The World Factbook Population and Penetration figures are provided by © 2011 Informa Telecoms&Media … $10,5 billion total net operating revenue

International network: Western Backbone International backbone network used capacity – 170 GBps; will be expanded to 300 GBps in 2011 Direct interconnects with leading worldwide carriers Presence at main peering points (IX) London (LINX) Amsterdam (AMS-IX) Frankfurt on the Main (DEC-IX) Stockholm (Netnode) Ashburn (Equinix) International Network resources: Stockholm: up to 200 Gbps London: 15 Gbps Frankfurt on the Main: 70 Gbps New York: 10 Gbps Hong Kong: 10 Gbps

CJSC “ArmenTel”: About Company ■ Since % subsidiary of the Vimpelcom ■ Full set of the telecommunication licenses including the licenses for mobile and fix telephony, Internet and data services, the dominating operator of Armenia ■ Subscribers: - mobile - active base over 670,000 - fixed - active base over 600,000 - broadband - over 110,000 ■ The company has its own fiber optic infrastructure over the Armenia and international interconnections with Georgia and Iran: - length of total subscriber network cables - about 15’850 km - length of the fiber optic network cables - about 2’650 km. ■ Financial results for 2010: - Net operational revenue - $ mln - OIBDA - $ 78.2 mln

CJSC “ArmenTel”: Network Services for International Carriers -Total network capacity – 40Gb -Technology - FOC: DWDM, IP/MPLS, SDH -TDM channels: up to STM-64 capacity -Ethernet channels: up to 10Gb capacity FOC interconnection to: -FoptNet -TIC (Iran) -SilkNet -Caucasus Online -DeltaCom Broadband Internet capacity: -Over 10 Gbps (fast upgrade: up to 20 Gbps availability) -International Internet capacity all providers on the end of 2010 – 4.35Gb (according to source: Telegeography) Development: -Interconnection with Turkey Networks -Network expansion -additional (backup) line construction -Broadband Internet usage permanent increase by ArmenTel’s own subscribers The largest carrier in Armenia. Interconnection points with international networks

CJSC “ArmenTel”: Summary ■ Own FOC Network, advanced technologies ■ Interconnections with multiple International operators, permanent development ■ Reliability, Qualified network maintenance (24x7), qualified personnel ■ Flexible prices, market oriented ■ Represents Beeline brand and implements “Vimpelcom” Group of companies strategy and projects in region

■ Alexander Cheglygbashev ■ Thank you!