Vimpel Comm (VIP) ADR's of the Russian Cellular Phone Co. Message Board

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Technology Stocks : Vimpel Comm (VIP) ADR's of the Russian Cellular Phone Co.

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To: Yorck who wrote (41)	6/2/1997 11:55:00 PM
From: Andrew Furst	of 283

I just received the 1996 annual report for Vimpel. Very impressive numbers, attractively presented in the report. Some highlights: 1994 1995 1996 Subscribers (thous.) 5 22 56 Net revenue(Mil. US$) 28 97 204 Earnings/shr (US$) $0.43 $1.19 $1.94 The company is the largest provider of cellular in the Moscow area. According to the report, 60% of Muscovites recognized the company's brand name (Bee Line). Vimpel is building a PCS network (in addition to its existing "regular" cellular); PCS service is scheduled to begin this year. Overall, the company seems to be headed in the right direction, and would likely be valued substantially higher than the current $30/share price, were this an American company. There is the obvious political risk in this stock, but I feel VIP is attractively priced here - if you can afford that risk. I'm taking that chance, and have purchased shares and call options. Options are now available (trading started today) on the CBOE. The annual report lists an investor contact # in New York - (212) 688-6840 (contact name is Dewe Rogerson Inc.)

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