VimpelCom to pay no dividends for 2002

VimpelCom plans to pay no dividends for 2002. Nikolay Pryanishnikov, VimpelCom senior vice-president and commercial director, announced this information at a news conference in Novosibirsk today. "Everything we earn is invested in our business, and no dividends are paid," Pryanishnikov explained. He added that VimpelCom intended to invest $50m in cellular network development in the Novosibirsk Region alone. It is planned to install over 140 more transmitting stations to provide cellular communication services along highways from Novosibirsk to other large cities of West Siberia, such as Barnaul, Novokuznetsk and Omsk.

Pryanishnikov arrived in Novosibirsk in connection with the first anniversary of the opening of the regional branch of VimpelCom's BeeLine GSM network. The company has 130,000 users in the Novosibirsk Region now.

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