OREANDA-NEWS. October 2, 2012. VimpelCom Ltd. (“VimpelCom” or “Company”) (NYSE: VIP), a leading global provider of telecommunications services, announces that its Nominating and Corporate Governance Committee (the “Committee”) has decided to delay the registration of the requested transfer of 71,000,000 convertible preferred shares (the “Preferred Shares”) from Weather Investments II S.а r.l. (“Weather II”) to Telenor East Holding II AS (“Telenor”) until the order issued by the Moscow Arbitration Court prohibiting such transfer (the “Order”) ceases to have effect.

The Committee, acting under a unanimous delegation of authority from the Supervisory Board, met today to consider Telenor’s request to register the Preferred Shares transfer.  The Committee determined that it is in the best interests of VimpelCom not to register the transfer of Preferred Shares to Telenor by Weather II at this time.  The Committee took into account the potential adverse consequences for VimpelCom’s Russian business if the Order is considered by the Russian authorities to have been breached with the support and participation of VimpelCom.