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Technology Stocks : Vimpel Comm (VIP) ADR's of the Russian Cellular Phone Co. -- Ignore unavailable to you. Want to Upgrade?

To: Uwe who wrote (267)	5/16/1999 7:38:00 PM
From: Savant	Read Replies (1) \| Respond to of 283

Analyst Kortunov blew that one. Yeltsin's pick stays. Yeltsin must have more lives than a cat. His seeming vacillations would seem to be suited to the political climate in which he survives. Best, Savant

To: Uwe who wrote (267)	5/28/1999 11:09:00 AM
From: Savant	Read Replies (1) \| Respond to of 283

MOSCOW and NEW YORK, May 28 /PRNewswire/ -- Open Joint Stock Company "Vimpel-Communications" ("VimpelCom" or the "Company") (NYSE: VIP) today announced financial results for the first quarter ended March 31, 1999. At the end of the first quarter of 1999, VimpelCom had 122,441 subscribers on its Moscow networks, less than a 1% decline compared to 123,324 subscribers reported at the end of the first quarter of 1998. At the end of the first quarter of 1999, VimpelCom's 50% subsidiary in Samara had 11,464 subscribers, a growth of 63% over the 7,023 subscribers reported in the same period a year ago. Despite the decline in the Company's overall subscriber base, VimpelCom's Moscow GSM network experienced a moderate increase in subscribers in the first quarter of 1999. As of March 31, 1999, VimpelCom's Moscow GSM network had 22,883 subscribers, which constituted approximately 19% of the Company's total subscriber base as of such date, compared to 11% at the end of March 1998. VimpelCom reported total operating revenues of $57.9 million for the first quarter of 1999, a 37% decline from the $92.4 million reported in the same period in 1998. Total net operating revenues (net of revenue-based taxes) for the first quarter of 1999, were $55.3 million, 38% lower than the $89.1 million reported in the same period a year ago. The decline in operating revenues, as well as for other financial results reported for the first quarter of 1999, was largely due to the continued deterioration of the Russian economy. Net income for the first quarter of 1999, was $0.1 million, or earnings of $0.01 per share ($0.01 per ADS), compared with net income of $16.5 million, or $0.86 per share ($0.64 per ADS), earned in the same period in 1998. Each ADS represents 0.75 of one share of common stock. Operating income for the first quarter of 1999 was $1.3 million, 95% lower than the $28.3 million in operating income reported at the end of the first quarter of 1998. The decline in net income was due primarily to a sharp reduction in revenues resulting from considerably lower traffic volumes and higher depreciation and financing charges, reflecting the increased investments the Company has been making in its networks when compared to the same period in 1998. ================== VIP closes Telenor deal. ================== Best, Savant