Senior Management Corporate Information Старший ... annual Новые возможности ... ной связи, ... Временно свободные средства

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  • Senior Management

    Dmitry B. ZiminChief Executive Officer and Founder

    Jo LunderPresident and Chief Operating Officer

    Nikolai N. PryanishnikovFirst Vice President CommercialDirector

    Maurice H. WorsfoldChief Financial Officer

    Sergei M. AvdeevVice President of NetworkDevelopment

    Valery V. FrontovVice President of Licensing

    Vladimir V. Preobrazhenski Vice President of BusinessDevelopment

    Valery P. GoldinVice President of International andInvestor Relations

    Vladimir M. BychenkovVice President, Chief Accountant

    Georgy V. Silvestrov Secretary of the Board

    Corporate Information

    Legal AdvisersAkin, Gump, Strauss, Hauer & Feld,L.L.P.

    Independent Auditors Ernst & Young (CIS) Limited

    Depositary BankThe Bank of New York

    CUSIP # 68370R109

    Custodian BankING Bank Eurasia

    Primary Trading InformationNYSE: VIP (ADS)VIP 05 (Convertible Bonds)

    Requests forCorporate Information:

    VimpelCom 10, 8 Marta Street Moscow, Russia 125083 Tel: +7 (095) 974 5888 Fax: +7 (095) 721 0017vgoldin@vimpelcom.comwww.vimpelcom.com

    Edelman Financial Worldwide 1500 Broadway New York, N.Y 10036 - 4015 Tel: +1 (212) 768 0550 Fax: +1 (212) 704 0128www.edelman.com

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    CUSIP # 68370R109

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    - :VIP () VIP 05 ( )

    - :

    . 8 , 10 125083 , : +7 (095) 974 5888 : +7 (095) 721 0017vgoldin@vimpelcom.comwww.vimpelcom.com

    , 1500 -, - 10036 - 4015 Te: +1 (212) 768 0550 : +1 (212) 704 0128www.edelman.com

    All information contained herein is qualified in its entirety byreference to VimpelComs Annual Report on Form 20-F which will befiled with the U.S. Securities & Exchange Commission by June 30,2001 pursuant to Section 15(d) of the United States SecuritiesExchange Act of 1934, as amended.

  • 2

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    4

    10

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    13

    15

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    Company profile

    Financial highlights

    Letter to shareholders

    Russia: a new era:

    Capturing the imagination

    Bee Line GSM: a new image :

    A wireless world

    New wave of growth

    Board of directors

    VimpelCom Annual Report

  • Annual Report VimpelCom2

    VimpelCom is a leading wireless telecommuni-cations service company in Russia, operatingunder the Bee Line family of brand names,which are among the most recognized brandnames in Russia. VimpelComs license portfo-lio covers 100 million people, approximately70% of Russias population.

    From its inception, VimpelCom has played a key

    role in the development of the Russian cellular

    telecommunications industry. VimpelCom intro-

    duced two digital cellular communications stan-

    dards to Russia and built the first dual band

    GSM900/1800 cellular network. VimpelCom

    also led the development and emergence of the

    mass consumer market for wireless communi-

    cations in Russia by introducing a prepaid prod-

    uct solution.

    By capturing peoples imagination throughproduct innovation, VimpelCom is leadingRussian consumers into the new wireless infor-mation age. In 2000, VimpelCom successfullyintroduced new technologies, such as WAP andBeeOnline, a multiaccess Internet portal,which offer a multitude of wireless informationand entertainment services, including loca-tionbased features.

    As of the end of 2000, VimpelComs total sub-scriber base was approximately 833,600, withapproximately 780,100 subscribers in theMoscow License Area.

    VimpelCom was the first Russian company tolist its shares on the New York Stock Exchange(NYSE) in November 1996. VimpelComsADSs are listed on the NYSE under the symbolVIP. In July 2000, VimpelCom successfullycompleted an offering of its securities raising$225.4 million. The first for a Russian compa-ny, this offering included US SEC registeredconvertible notes. VimpelComs convertiblenotes are listed on the NYSE under the symbolVIP 05.

    - , - , . , - 100 - ( 70% ).

    - - . - GSM900/1800.

    (prepaid), - - .

    2000 , WAP , - - , , - . - , - .

    2000 - 833 600, 780 100 - .

    -, (NYSE) 1996 . NYSE - VIP. 2000 225,4 . , - . NYSE VIP 05.

    1998 1999 2000

    13.3%

    5.2%

    1.8%

    39%

    5%

    56%

    Company profile

    Market share in Moscow

    Moscow License Area cellular penetration

    VimpelCom

    NMT450 operator

    GSM incumbentcompetitor

  • 3

    Subscriber growth in Moscow

    Total revenues US$ in millions in US GAAP / . ()

    1998

    1999

    2000

    1998

    1999

    2000

    376.0

    238.6

    285.7

    124,037

    350,500

    780,100

    Financial highlights

    2000 1999 1998

    Operating results

    Total revenues 285,673 238,637 US$375,957

    Net operating revenues (1) 274,136 226,405 360,998

    Operating income (74,496) (29,067) 101,839

    % net operating revenues (27.2%) (12.8%) 28.2%

    Net income (loss) (77,801) (39,596) (4,715)

    % net operating revenues (28.4%) (17.5%) (1.3%)

    Net income (loss) per share of Common Stock (US$2.57) (US$1.71) (US$0.24)

    Net income per ADS equivalent (2) (US$1.93) (US$1.28) (US$0.18)

    EBITDA (3) 51,993 25,732 144,108

    % 19% 11.4% 39.9%

    2000 1999 1998

    Cash, cash equivalents and short-term investments US$152,691 US$36,112 US$16,646

    Working capital (deficit) 122,270 (38,782) (46,259)

    Property and equipment, net 356,666 369,053 357,788

    Intangible assets, net 79,649 84,134 89,724

    Total assets 700,315 590,095 536,067

    Total debt including current portion 222,764 161,338 192,330

    Total liabilities 331,692 289,107 333,131

    Total shareholders' equity 368,623 300,988 202,936

    2000 1999 1998

    End of period subscribers

    Moscow License Area 780,100 350,500 124,037

    The regions (4) 53,500 21,800 11,525

    Total subscribers 833,600 372,300 135,562

    Employees (5) 1,619 1,443 1,332

    Market share Moscow License Area (6) 39.1% 45% 44%

    2000 1999 1998

    285 673 238 637 US$375 957

    , (1) 274 136 226 405 360 998

    (74 496) (29 067) 101 839

    %

    (27,2%) (12,8%) 28,2%

    () (77 801) (39 596) (4 715)

    %

    (28,4%) (17,5%) (1,3%)

    () (US$2,57) (US$1,71) (US$0,24)

    () (2) (US$1,93) (US$1,28) (US$0,18)

    EBITDA (3) 51 993 25 732 144 108

    % 19% 11,4% 39,9%

    2000 1999 1998

    US$152 691 US$36 112 US$16 646

    () 122 270 (38 782) (46 259)

    , 356 666 369 053 357 788

    , 79 649 84 134 89 724

    700 315 590 095 536 067

    , 222 764 161 338 192 330

    331 692 289 107 333 131

    368 623 300 988 202 936

    2000 1999 1998

    780 100 350 500 124 037

    (4) 53 500 21 800 11 525

    833 600 372 300 135 562

    (5) 1 619 1 443 1 332

    (6) 39.1% 45% 44%

    1. Net operating revenues after deduction of revenue based taxes.2. Net income per share of common stock has been adjusted by a factor

    of 1.33 to determine net income per ADS equivalent, as each ADS isequivalent to three quarters of one share of common stock.

    Financial highlights (Dollar amounts in thousands, except per share)

    (US GAAP)

    ( , , )

    ()

    Consolidated balance sheet data (Dollar amounts in thousands)

    ( )

    Statistics

    1. .

    2. () 1,33 ,

    3. Operating income before depreciation and amortization.4. The regions include Samara, Vladimir, Ryazan, Tver, Kaluga, Vologda,

    Ulyanovsk, Voronezh and Karelia.5. VimpelCom and its principal subsidiaries. 6. Companys estimates of active subscribers on its networks and on the

    networks of the other wireless telecommunications providers in the MoscowLicense Area.

    3. .

    4. : , , , , , , , .

    5. . 6.

    .

  • Annual Report VimpelCom4

    Dear shareholders:The year 2000 was a seminal year in the de-velopment of Russia, ushering in a new gener-ation of leadership that has broughtlongawaited stabilization of economic andpolitical conditions in Russia. Improvedmacroeconomic performance led to an in-crease in Russian consumer confidence, cre-ating a healthy environment for the further ex-pansion of wireless communications. As a re-sult, the total number of cellular subscribers inRussia increased from approximately 1.35million at the end of 1999 to 3.4 million at theend of 2000. Even with this impressive 152%growth in the number of subscribers inRussia, market penetration in Russia still re-mains low at only 2.4%, indicating grate po-tential for further growth.

    The increase in cellular phone use in Russia inthe year 2000 coincides with the way in whichtechnology is capturing peoples imaginationthroughout the world. This trend is expected tocontinue as the worldwide convergence ofwireless communications with the Internet con-tinues to open new possibilities for the way peo-ple use mobile phones to conduct their lives.

    We pursued and achieved four key objectivesin 2000:

    Expanding the coverage and quality of ourGSM network in Moscow;

    Creating a new image for Bee Line as a GSMoperator;

    Introducing new wireless services, beyondvoice communications; and

    Focusing operations on the return to

    profitability during 2001.

    Bee Line GSM: a new imageDuring the past year, we successfully reposi-tioned VimpelCom as a GS

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