01 June 2004 01:09
Court Rules in Favor of VimpelCom`s Subsidiary on Appeal by Regulator
MOSCOW and NEW YORK, June 1 /PRNewswire-FirstCall/ -- Open Joint Stock Company "Vimpel-Communications"
("VimpelCom" or the "Company") welcomes the decision by the Appellate Panel of the Moscow Arbitrazh
Court, upholding the previous ruling by the Moscow Arbitrazh Court in favor of the Company's wholly-owned
subsidiary, KB Impuls, invalidating a provision contained in a notice officially received from Moscow Gossvyaznadzor on
January 9, 2004. VimpelCom is a leading provider of telecommunications services in Russia, operating under the "Bee
Line GSM" brand. The VimpelCom Group's license portfolio covers approximately 92% of Russia's population
(134 million people), including the City of Moscow, the Moscow Region and the City of St. Petersburg. VimpelCom was the
first Russian company to list its shares on The New York Stock Exchange ("NYSE"). VimpelCom's ADSs are
listed on the NYSE under the symbol "VIP".
This press release contains "forward-looking statements," as the phrase is defined in Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. There is no assurance that Gossvyaznadzor
will not appeal the decision described in this press release or that Gossvyaznadzor will not take other actions against
the Company. Certain factors that could cause actual results to differ materially from those discussed in any
forward-looking statements include the risks described in the Company's Annual Report on Form 20-F for the year
ended December 31, 2003 and other public filings made by the Company with the United States Securities and Exchange
Commission, which risk factors are incorporated herein by reference. VimpelCom disclaims any obligation to update
developments of these risk factors or to announce publicly any revision to any of the forward-looking statements
contained in this release, or to make corrections to reflect future events. VimpelCom
CONTACT: Valery Goldin of VimpelCom (Moscow), +7-095-974-5888, vgoldin@VimpelCom.com; or Christopher Mittendorf of
Edelman Financial Worldwide, +1-212-704-8134, christopher.mittendorf@edelman.com, for VimpelCom
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