Moscow, Russia — August 14, 2003 — Wimm-Bill-Dann Foods OJSC [NYSE: WBD] today announced sales volumes for the first six months of 2003.

In the first half of the year 2003 sales volumes in the combined dairy, juice and water segments increased 12.4% year-on-year and were 773.6 thousand tons. By market segment, juice sales volumes in the first half of the year 2003 amounted to 268.0 thousand tons, a 19.6% increase over the same period of 2002. In the dairy segment, sales volumes in the first half of the year 2003 were 8.7% greater than in the first six months of 2002, at 504.7 thousand tons.

In May 2003, Wimm-Bill-Dann commenced the selling of the sparkling and still mineral water marketed under the “Sanctuary. Valdai” brand in 0.5 and 1.5 litter PET bottles, being produced at the bottled water plant in the Novgorod Region. The sales amounted to approximately 1 thousand tons during the first 2 months.

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.