AMSTERDAM, Feb. 17, 2012 /PRNewswire/ — VimpelCom Ltd. (“VimpelCom” or the “Company”) (NYSE: VIP) announces today that it has completed the spin-off of certain assets of Orascom Telecom Holding S.A.E. (“OTH”) to Weather Investments II S.a r.l. (“Weather II”).

The principal spin-off assets include OTH’s investments in ECMS and Mobinil in Egypt and Koryolink in North Korea.

The completion of the spin-off of these assets fulfills VimpelCom’s spin-off obligations in connection with its acquisition of Wind Telecom S.p.A. from Weather II.

About VimpelCom

VimpelCom is one of the world’s largest integrated telecommunications services operators offering a wide range of wireless, fixed, and broadband services in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic, Italy and Canada. VimpelCom’s operations around the globe cover territory with a total population of approximately 864 million people. VimpelCom provides services under the “Beeline”, “Kyivstar”, “djuice”, “Wind”, “Infostrada”, “Mobilink”, “Leo”, “banglalink”, “Telecel”, and “Djezzy” brands. VimpelCom has more than 200 million mobile subscribers on a combined basis. VimpelCom is traded on the New York Stock Exchange under the symbol (VIP). For more information visit: http://www.vimpelcom.com.

SOURCE VimpelCom Ltd.