St. Petersburg, Russia, April 20, 2004. Wimm–Bill–Dann Foods OJSC (NYSE: WBD) today announced the completion of the latest stage of its production modernization program at Baltic Dairy Factory OJSC in St. Petersburg.

In 2003, as part of Wimm–Bill–Dann’s investment program, which is aimed at modernizing regional factories, four packaging lines for the production of milk, sour milk products, drinkable yoghurts, glazed cheese curds, curd desserts and juice–based dairy products were installed at Baltic Dairy Factory OJSC (previously Roska OJSC). This upgrade has allowed the company to expand its product portfolio and to increase sales volumes by 41 % year–on–year in 2003 at its North West branch.

In addition, three new packaging lines were installed at Baltic Dairy in 2004. In February 2004, a HASSIA THM 17/48 pre–packing machine for whipped curd desserts was launched. The company installed a FIS line for the production of glazed curds, allowing the company to produce a new range of products under the brand names Chudo, Ginger Up and Frugurt. In March, Tetra Rex 7 ESL Screw Cap equipment produced by Tetra Pak was installed at Baltic Dairy Factory OJSC. This equipment makes it possible to produce a wide range of milk and sour milk products in packaging with caps.

Total investment at Baltic Dairy in 2003 and early 2004 amounted to more than US$ 6 million.

These investments represent the continuation of Wimm–Bill–Dann’s modernization program across its production base, aimed at meeting consumer demand and enhancing operating efficiencies through the introduction of world–class technology to dairy production.

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.