Moscow, 16 June 2003. Although it is the policy of Wimm-Bill-Dann Foods OJSC (NYSE: WBD) not to comment on rumors concerning fluctuations in the price of its shares or ADRs, the company wishes to clarify certain reports which have recently appeared in the press. Certain of the company’s shareholders have in the past explored a variety and number of potential combinations, joint ventures or partnerships with Groupe Danone. Consistent with this ongoing exploration of business opportunities, these shareholders are engaged in preliminary discussions in relation to a possible transaction, which may or may not result in the acquisition of all or a majority of the shares of the company by Groupe Danone. The company has, at the request of these shareholders, cooperated in such preliminary discussions.

As of this date, no agreement with respect to price or other material terms or conditions of a transaction has been reached. Moreover, no assurance can be made that these discussions will continue or that any agreement with respect to a transaction will be reached, or, if reached, what the form of the transaction will be. The terms of any such transaction may or may not be extended to the company’s public shareholders. The company does not intend to comment further on this or any other such possible transaction unless and until required under applicable law.

Wimm-Bill-Dann Foods OJSC
16 Yauzsky Boulevard, Moscow, Russia
Phone: +7 095 733-97-26/9727
Fax: +7 095 733-97-25
web: https://www.wbd.com
E-mail: kiryuhina@wbd.ru

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Wimm-Bill-Dann, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to conform them to actual results. We refer you to the documents Wimm-Bill-Dann files from time to time with the U.S. Securities and Exchange Commission, including our Form F-1. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” in our Form F-1, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, acquisition strategy, risks associated with operating in Russia, volatility of stock price, financial risk management, and future growth subject to risks.