VimpelCom (VIP) Cancels Dividend Ahead of AGM in Light of Moscow Arbitration Court Charges

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VimpelCom Ltd. (NYSE: VIP), announces that in light of injunctions issued by the Moscow Arbitration Court (including the prohibition on the payment of dividends by the Company's wholly-owned Russian subsidiary OJSC "Vimpel-Communications") in relation to the claims by the Russian Federal Anti-Monopoly Service against Telenor and Weather II:

• The Supervisory Board of the Company considers it prudent and in the best interests of VimpelCom to postpone the payment and cancel the June 1, 2012 record date of the final dividend relating to the Company's 2011 results. The Supervisory Board of the Company will make a decision whether to pay the final 2011 dividend at a later date and will set a new record date as appropriate.
  
  
• The Company plans to hold its annual general shareholders meeting ("AGM") in December 2012, with the exact date to be notified by the Supervisory Board.
  
  
• The Company will continue to assess the situation as further developments occur.

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