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VimpelCom Welcomes Egan-Jones Recommendation To Support The Combination With Wind Telecom S.p.A.

AMSTERDAM NEW YORK Feb. 28, 2011 VimpelCom Ltd. ("VimpelCom" or the "Company")

February 27, 2011

The Egan-Jones recommendation follows an equally favorable recommendation from Glass Lewis. VimpelCom has received positive "FOR" recommendations from two out of the three proxy advisory firms. The positive Egan-Jones recommendation provides further confirmation that the expansion of the Company’s growth platform is strategically compelling and financially attractive, which is consistent with the view of VimpelCom’s independent directors who have recommended that shareholders vote in favor of the combination with Wind Telecom at the Special General Meeting of VimpelCom.

March 17, 2011

VimpelCom’s Supervisory Board and Management Board recommend shareholders to vote "FOR" the proposals by signing, dating and returning the WHITE voting card received from the Company.

D.F. King North America

About VimpelCom

Amsterdam Russia Ukraine Kazakhstan Uzbekistan Georgia Armenia Kyrgyzstan Vietnam Cambodia

About WIND TELECOM S.p.A. (formerly Weather Investments S.p.A.)

Algeria Bangladesh Egypt Pakistan North Korea Canada

About Egan-Jones Proxy Services

Egan-Jones provides research, recommendations and voting services for domestic and foreign proxy proposals offered in annual subscriptions priced according to the number of securities covered. Each proxy proposal is carefully weighed to understand its impact on overall shareholder value, and for Taft-Hartley clients to ensure that the rights and interests of labor are respected. Egan-Jones also fully understands the key characteristics of effective corporate governance and the cumulative benefits to a company whose management is able to preserve these values. Egan-Jones is uniquely positioned with the proven analytical savvy and real time experience required to unravel even the most complicated proxy voting issues. Equally important, Egan-Jones Proxy Services is completely independent. In order to safeguard the integrity of its recommendations, Egan-Jones does not sell consulting services to management or board members regarding any proxy related issues.

Cautionary statement regarding forward-looking statements

December 31, 2009

SOURCE VimpelCom Ltd.

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