Open Joint Stock Company Vimpel-Communications

Ticker: VIP
Exchange: New York Stock Exchange		Moscow, Foreign
Industry: Service

Type of Shares:	American Depositary Receipts	Filing Date:	10/1/96
U.S. Shares:	3,919,100	Offer Date:	11/15/96
Non-U.S. Shares:	1,486,556	Filing Range:	$19.50 - $20.50
Primary Shares:	3,464,800	Offer Price:	$20.50
Secondary Shares:	1,940,856	Gross Spread:	$1.44
Offering Amount:	$108,113,120	Selling:	$0.86
Expenses:	-	Reallowance:	$0.10
Shares Out After:	-

Manager	Tier	Phone
Donaldson, Lufkin & Jenrette Securities Corp.	Lead Manager	(212) 504-4525
Renaissance Capital	Co-manager

	Audited Income	Latest Unaudited Income	Prior Unaudited Income		Balance Sheet

Revenue:				Assets:
Net Income:				Liabilities:
EPS:				Equity:
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year

Business Description

The Group is the largest provider of cellular telecommunications services in Russia, including in the City of Moscow and the area constituting the Moscow Oblast ( the "Moscow Region"). The City of Moscow together with the Moscow Region is currently the Group's primary operating area. The Group operates the only Digital Advanced Mobile Phone System 800 MHz cellular network in the Moscow License Area, which it markets under the "Bee Line" trademark. The D-AMPS network uses Time Division Multiple Access technology. The Group began full scale commercial operations in June 1994 and has grown rapidly since that time. The Group's market share in the Moscow License Area, an area covering a population of over 15 million, was approximately 59% at the end of July 1996 according to Mobile Communications, a leading United Kingdom based cellular industry publication.

Use of Proceeds

The proceeds from the proposed offering will be used for general corporate purposes.

Last updated: 12/8/96