Moscow, July 31, 2003. Wimm-Bill-Dann Foods OJSC (NYSE: WBD) today announced the installation of new production line at the Baby Food Plant, located in Moscow, as part of an ongoing modernization project in its dairy business, aimed at further improving operating efficiencies and maintaing the highest quality of its products. The investment at the plant totals US$5.4 million.

The company has installed a new AGMA GD (Italy) liquid dairy products filling line with a production capacity of 30 tons per day at the Baby Food Plant.

This line is producing a new probiotic product, «Imunele,» in 100 ml plastic bottles. There are also plans to bottle «Ryzhiy Ap» (Ginger Up) drinkable yougurt in 200 ml bottles.

The Baby Food Plant

The Baby Food Plant opened in 1982, and is the only production facility in Moscow specializing in the production of liquid and paste-type products for newborns and children up to two years old. All products are made with the highest-quality ingredients.

The plant produces more than 25 types of dairy products, including kefir, fermented milk baby foods, sterilized baby foods, curds, cream, and drinkable yogurts.

All baby food recipes are developed jointly with the Nutrition Institute of the Russian Academy of Medical Sciences. The Baby Food Plant’s main objective is to produce high-quality products meeting the requirements of children, on the basis of the modern technology and the latest scientific research.

The plant currently employs over 400 people, with a total capacity of 180 tons per day.

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.