**Exhibit 4.54**

 

[National emblem of Ukraine]

 

**LICENSE**

 
| Series AA |   | No. 720189 |
|-----------|--------|------------|

 

**MINISTRY OF TRANSPORT ANDCOMMUNICATIONS OF UKRAINE**

 

**STATE DEPARTMENT FORCOMMUNICATION AND INFORMATIZATIONOF UKRAINE**

 
| Economic activity type                                                                                                                                                               | ** ** | **Construction and maintenance of communication  networks with mobile objects and provision of services using these objects on  the territory of Ukraine** subject to the License terms and conditions |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                 |       |                                                                                                                                                                                                   |
| Legal entity name                                                                                                                                                                    | ** ** | **Closed Joint Stock Company**                                                                                                                                                                         |
|                                                                                                                                                                                 |       | **“Ukrainian Mobile Communications”**                                                                                                                                                        |
|                                                                                                                                                                                 |       |                                                                                                                                                                                                   |
| Legal entity identification code                                                                                                                                                     | ** ** | **14333937**                                                                                                                                                                                           |
|                                                                                                                                                                                 |       |                                                                                                                                                                                                   |
| Legal entity location                                                                                                                                                                | ** ** | **15****Leipzigska  street, Kyiv, 01015, Ukraine**                                                                                                                                                     |
|                                                                                                                                                                                 |       |                                                                                                                                                                                                   |
| Date and number of                                                                                                                                                                   |       |                                                                                                                                                                                                   |
| license reissue resolution                                                                                                                                                           | ** ** | **24/12/04 No. 37**                                                                                                                                                                                    |
|                                                                                                                                                                                 |       |                                                                                                                                                                                                   |
| License duration                                                                                                                                                                     | ** ** | **from 29/12/04 till 03/12/13**                                                                                                                                                                        |
|                                                                                                                                                                                 |       |                                                                                                                                                                                                   |
|                                                                                                                                                                                 |       |                                                                                                                                                                                                   |
| **Director**                                                                                                                                                                         |       | [signature]                                                                                                                                                                                            | **I.V. Kravets** |
| ** **                                                                                                                                                                           |       |                                                                                                                                                                                                   | ** ** |
| Official seal:          State Department for Communication and  Informatization of Ukraine, Kyiv, Ukraine, identification code 33240054 |
| ** **                                                                                                                                                                           |       |                                                                                                                                                                                                   | ** ** |
| Date of issue of the license                                                                                                                                                         |       | **29/12/04**                                                                                                                                                                                           |

 

**Reissued license series AA dated 12/11/02 No.223305**

 

----

 

**SPECIAL TERMS:**

 

1.             This License enables the Licensee to develop,construct, own, and operate the NMT-450, Nordic Standard, GSM-900, PSN,DCS-1800 public usage cellular communication networks and provide the relevantcommunication services.

 

 
| **Director** | [signature] | **I.V. Kravets** |
|--------------|-------------|------------------|

 

Official seal:          State Department for Communication andInformatization of Ukraine, Kyiv, Ukraine, identification code 33240054