VimpelCom : statement regarding the Share Buy-Back announced by Global Telecom Holding

Amsterdam (16 January 2017) - VimpelCom's subsidiary, Global Telecom Holding S.A.E. (GTH) announced today that it proposes: (i) to launch a fixed price buy-back program to acquire up to 10.00% of the total issued share capital of GTH (the 'Share Buy-Back') at a price per share of EGP (Egyptian pounds) 7.90 and for a total consideration of up to EGP 4.1 billion; and (2) to carry out the cancellation of its GDR program.

VimpelCom, which owns 51.9% of the outstanding shares of GTH, does not intend to participate in the Share Buy-Back.

About VimpelCom Ltd.

VimpelCom (NASDAQ: VIP) is an international communications and technology company, headquartered in Amsterdam, and driven by a vision to unlock new opportunities for customers as they navigate the digital world. Present in some of the world's most dynamic markets, VimpelCom provides more than 200 million customers with voice, fixed broadband, data and digital services. VimpelCom's heritage as a pioneer in technology is the driving force behind a major transformation focused on bringing the digital world to each and every customer. VimpelCom offers services to customers in 13 markets including Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia and Laos. VimpelCom, whose licenses cover 10% of the world's population, operates under the 'Beeline', 'WIND', 'Djezzy', 'Mobilink', 'Kyivstar' and 'banglalink'. Follow us on Twitter @VimpelCom, visit blog.vimpelcom.com or visit our website www.vimpelcom.com.

Contact information

Media and Public Relations

VimpelCom Ltd.

Neil Moorhouse

Tel: [phone] (Amsterdam)

Investor Relations

VimpelCom Ltd.

Kseniia Gangrskaia