Moscow and New York (August 25, 2005) - Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP),a leading provider of wireless telecommunications services in Russia and Kazakhstan, today announced its financial and operating results for the quarter and six months ended June 30, 2005. During the second quarter, the Company reported continued subscriber growth in Russia and Kazakhstan and increases in total operating revenues, OIBDA and net income. VimpelCom's condensed consolidated financial statements are attached. Commenting on today's announcement, Alexander Izosimov, Chief Executive Officer of VimpelCom, said, "We are very pleased with VimpelCom's strong performance in the second quarter. In the face of continued strong competition throughout Russia and Kazakhstan, we added more than 4.3 million new subscribers and reported substantial improvements in our financial results. Our second quarter OIBDA margin of 51.4% was the highest in the Company's history. The second quarter was also marked by the successful launch of our re-branding campaign in preparation for the next phase of market development."

The principal results of operations with comments are presented in the following tables. All definitions are presented in Attachment A. The condensed consolidated financial statements of VimpelCom are presented in Attachment B. Reconciliation of each of OIBDA, OIBDA margin, ARPU and SAC to the most directly comparable U.S. GAAP financial measures appear in Attachment C.

As discussed in the Company's 2004 Annual Report on Form 20-F and first quarter 2005 earnings release, the Company restated its historical financial statements for periods ending on or prior to September 30, 2004 to reflect guidance from the United States Securities and Exchange Commission contained in a letter to the accounting industry in February 2005 with respect to lease accounting. In addition, the first quarter 2005 earnings release reflected changes made by the Company to the estimated useful life of its GSM Russian telecommunications licenses as well as a reclassification of revenues generated by the Company's value added services. In its subscriber reporting, starting with the second quarter of 2005, the Company decided to combine its advance payment subscribers with its prepaid subscribers (see "Definitions"). The earlier reported financial statement information and subscriber information that is incorporated in this press release, including for the second quarter of 2004 and the six months ending June 30, 2004, were recalculated accordingly.

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