Amsterdam (February 17, 2012) - 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.à 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.