Disclaimer

Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan.

These materials are not an offer for sale of securities in the United States. Securities may not be sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended.  Neither TeliaSonera nor MegaFon intends to register any part of any offering in the United States or to conduct a public offering of securities in the United States.

This document is not a prospectus for the purposes of the Prospectus Directive. Any prospectus prepared pursuant to the Prospectus Directive if published will be available in accordance with the Prospectus Directive. Investors should not subscribe for any securities referred to in this document except on the basis of information contained in any such prospectus.  The expression “Prospectus Directive” means Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent implemented in any relevant Member State) and includes any relevant implementing measure in the relevant Member State.

This document is only being distributed to and is only directed at (A) persons located outside the European Economic Area or, if located within the European Economic Area, are qualified investors within the meaning of the Prospectus Directive as implemented in the relevant member state of the European Economic Area and (B) without limiting (A) above, persons who are located outside the United Kingdom or, if located within the United Kingdom, are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (A) and (B) above together being referred to as “relevant persons”).  Any securities described herein will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons.  Any person who is not a relevant person should not act or rely on this document or any of its contents.

This document is not a public offer or advertisement of securities in the Russian Federation and is not an offer, or an invitation to make offers, to purchase, sell, exchange or transfer any securities in the Russian Federation or to or for the benefit of any Russian person or entity.  Information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in Russia or to or for the benefit of any Russian person, and does not constitute an advertisement of any securities in Russia.



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