Moscow, Russia — October 27, 2003 — Wimm-Bill-Dann Foods OJSC (NYSE: WBD) today announced the launch of hard cheese production being marketed under the “Lamber” trademark at the Rubtsovsk Dairy Plant in theAltai region. The company plans to invest approximately US$13 million in the project.

With the new production line for Lamber hard cheese, Rubtsovsk Dairy Plant became one of the largest plants in Russia and the CIS in terms of production capacity for rennet cheese. The plant has capacity to produce up to 15,000 tons of cheese per year.

Rubtsovsk Dairy Plant has been outfitted with modern equipment produced by the European companies Alpma and Obram. Rubtsovsk is the first plant in Eastern Europe, where cheese production process, from milk feed to packaging, is fully automated.

Wimm-Bill-Dann is going to position Lamber cheese in the upper middle segment, where it will compete primarily with imported cheese and has the potential to become market leader. The Lamber brand offers high quality for a reasonable price, convenient 1 kg size and attractive packaging.

Wimm-Bill-Dann will launch an advertising campaign for the new brand on Russian national television in November 2003, aimed at promoting greater consumption of cheese. Per capita cheese consumption in Russia remains a fraction of European consumption levels.

Yuri Vlasenko, Head of Wimm-Bill-Dann Food’s Cheese Project, said: “The launch of European quality hard cheese production is a major step for the company’s ambitious plans in the cheese market. We are confident that consumers will be quickly won over by the Lamber brand due to its quality, taste and price. At Wimm-Bill-Dann, our aim is to fill a major gap in the Russian market for domestically produced high quality cheese at reasonable prices. We are using the latest equipment along with proven traditional cheese-making techniques and selected raw materials. Looking forward, we are examining the possibility of expanding the plant’s capacity to meet future demand.”

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.