OREANDA-NEWS. Moscow and New York Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP), a leading provider of wireless telecommunications services in Russia and the Commonwealth of Independent States (CIS) today announced its financial and operating results for the quarter ended March 31, 2007.

Financial and Operating Highlights

• Net operating revenues reached $1,488 million in the first quarter, a year-on-year increase of 59% and a quarter-on-quarter increase of 2,5%.
• OIBDA reached $766,4 million, a year-on-year increase of 58,8%.
• OIBDA margin was 52,9% in Russia and 51,5% for the Company
• Net income totaled $277,3 million, a year-on-year increase of 84,6%.
• Operating cash flow was $655,9 million, a year-on-year increase of 81,2%.
• ARPU was unchanged in Russia as compared with the previous quarter.
• Market share exceeded 50% in Kazakhstan.

Commenting on today's announcement, Alexander Izosimov, Chief Executive Officer of VimpelCom, said, "Our first quarter results were very strong with revenue, OIBDA, net income and cash flow all at record levels.  We reported almost 60% year-on-year growth in revenue and OIBDA and almost 85% year-on-year growth in net income which is a remarkable achievement for a company of VimpelCom's size.

"On a sequential, quarter-on-quarter basis, our results were also very encouraging.  Although the first quarter is the seasonally weakest quarter for revenue, we reported both revenue growth and substantially improved margins.  It is a very good start to what we hope will become another successful year".