Moscow and New York (April 28, 2009) - Open Joint Stock Company “Vimpel-Communications” (“VimpelCom” or the "Company") (NYSE: VIP), a leading provider of telecommunications services in Russia and the Commonwealth of Independent States (CIS), today announced that its Beeline brand was included in the BrandZ Top 100 Most Valuable Global Brands ranking and was named as one of the world’s 10 most valuable telecom brands.  The Beeline brand ranked no. 72, with an estimated brand value of $8.9 billion. Beeline showed the highest brand contribution index of any brand on the Russian market, demonstrating the brand’s effectiveness in driving business earnings.

The BrandZ Top 100 Most Valuable Global Brands ranking is published by the Financial Times based on research conducted by Millward Brown Optimor.  The ranking was published this year for the fourth time; this year was the first year that the Beeline brand was considered. The winners list is compiled through an evaluation of customer sentiment, as well as the market and financial performance of the target companies.

“In a year where many brands have lost a large part of their value, the Beeline brand performance is excellent,” said Joanna Seddon, CEO Millward Brown Optimor. “Beeline's brand value growth is attributable both to high growth in intangible earnings, strong brand equity and a relatively good growth outlook. Results are also positively impacted by high ARPU, new acquisitions (Golden Telecom) opening up high growth broadband markets and launch of new products”.

“We are pleased and honored to join this prestigious list of global brands,” said Kent McNeley, Vice President of VimpelCom. “BrandZ ranks the world’s most valuable brands and those companies included in the ranking have demonstrated strong brand and business management, qualities that are exemplified by the Beeline brand and VimpelCom. Today the brand more than ever helps Company to signify stability, increase consumer loyalty, and attractiveness for current and potential customers.”

According to the international consulting company Interbrand Zintzmeyer Lux AG  Beeline brand has been #1 in the rating of the most valuable brands in Russia since 2005 and has remained on this position till now.   From the time Interbrand published its first report, the Beeline brand has been steadily growing in value from $5 billion in 2005 to $7.43 billion in 2008. The Beeline brand extends throughout Russia, Kazakhstan, Ukraine, Armenia, Uzbekistan, Tajikistan, and Georgia, and maintains an excellent growth rate.

According to the Russian Patent Bureau, 100% of mobile consumers in Russia are familiar with the Beeline brand.