VEON announces expected satisfaction of financing condition

14 Jun 2017

VEON announces expected satisfaction of financing condition Amsterdam (26 January 2017) - Global Telecom Holding S.A.E. (GTH) (EGX: GTHE, LSE: GLTD) and VimpelCom Ltd. (NASDAQ: VIP), a leading global provider of telecommunications and digital services headquartered in Amsterdam and serving over 235 million customers in the global markets of tomorrow, today announce that Matthieu Galvani has been appointed Chief Executive Officer of Djezzy, their business in Algeria.

Matthieu returned to VimpelCom in April 2016 as Chief Commercial Officer for VimpelCom's emerging markets, which serves 95 million customers in Algeria, Bangladesh and Pakistan. He has over 16 years' experience in senior executive roles in the industry and in the Middle East and North Africa. His previous roles include Chief Marketing & Communication Officer of KenCell in Kenya from 2000 to 2004; Chief Commercial Officer of Djezzy from 2005 to 2009; Chief Commercial Officer of Tunisie Telecom from 2009 to 2014, and Chief Commercial Officer of Zain in Saudi Arabia from 2014 to 2016.

I am pleased to appoint Matthieu Galvani to the position of Chief Executive Officer of Djezzy. Matthieu has a deep knowledge of Algeria, the industry and the region and Djezzy will benefit significantly from his expertise as it continues with its transformation into a digital leader, said Jon Eddy, Chairman of Global Telecom Holding and VimpelCom's Head of Emerging Markets. Matthieu's first-hand experience in VimpelCom will ensure a smooth transition. I'd like to thank Tom Gutjahr for his contribution to Djezzy in advancing Djezzy's business in Algeria, and wish him well with his future endeavors.

Matthieu, a French national, holds a Master's degree in Econometrics, and a post graduate degree in economics and energy from the University of Paris X.

Disclaimer This release contains forward-looking statements , as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VimpelCom's and GTH's digital strategy development and transformation. The forward-looking statements included in this release that expresses or implies VimpelCom's or GTH's intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. Forward-looking statements involve risks and uncertainties. The actual outcome may differ materially from these statements as a result of: continued volatility in the economies in the markets where the companies operate; unforeseen developments from competition; governmental regulation of the telecommunications or digital industries; general political uncertainties in the markets where the companies operate; and government investigations or other regulatory actions and/or litigation with third parties. Certain other factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in VimpelCom's Annual Report on Form 20-F for the year ended December 31, 2015 filed with the U.S. Securities and Exchange Commission ( SEC ) and other public filings made by VimpelCom with the SEC. The forward-looking statements speak only as of the date hereof, and VimpelCom and GTH each expressly disclaims any obligation to update them or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.

About VimpelComVimpelCom (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 worlds population, operates under the Beeline , WIND , Djezzy , Mobilink , Kyivstar , and banglalink brands. Follow us on Twitter @VimpelCom or visit our website @ http://www.vimpelcom.com.

About Global Telecom HoldingGTH, which is 51.9% owned by VimpelCom Limited, is a leading international telecommunications company operating mobile networks in high growth markets in Africa and Asia, having a total population under license of approximately 408 million as of September 30, 2015. GTH operates mobile networks in Algeria ( Djezzy ), Pakistan ( Mobilink ), and Bangladesh ( Banglalink ). GTH reached more than 84 million customers as of September 30, 2015. GTH is traded on the Egyptian Exchange under the symbol (GTHE.EY), and on the London Stock Exchange, its GDRs are traded under the symbol (GLTD:LI). For more information visit: http://www.gtelecom.com

Contact informationMedia and Public Relations

VimpelCom Ltd.

Neil Moorhouse

Tel: +31 20 79 77 200 (Amsterdam)

pr@vimpelcom.com

Investor Relations

VimpelCom Ltd.

Kseniia Gangrskaia

Tel: +31 20 79 77 200 (Amsterdam)

ir@vimpelcom.com

Global Telecom Holding

Ola Tayel

Tel: + 20(2) 2461 8640 (Cairo)

ir@gtelecom.com

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