Moscow, 17 July 2003. Wimm-Bill-Dann Foods OJSC (NYSE: WBD) today announced the launch of cheese-spread production in Medvedovskaya, Krasnodar region. The company has invested approximately US$5 million in the project.

As part of its long-term development strategy, Wimm-Bill-Dann has completed the first stage of its cheese production program. The production facility located in Medvedovskaya, is part of Wimm-Bill-Dann’s Timashevsk dairy complex, which was acquired in 2000. Cheese spread production was launched in a newly built and dedicated production unit with a total area of 2,000 square meters.

The company has installed modern equipment in the cheese-spread plant, including melting pots produced by Stefan (Germany), and packing machines made by Sig Sapal (Switzerland) and Past Pack (Russia), with a total output capacity of 30 tons per day.

Wimm-Bill-Dann has launched production of Veselyi Molochnik (Happy Milkman) cream cheese in triangle trays of 125g and 200g and Ryzhii Ap (Ginger Up) in round trays of 70g with cream, chocolate and caramel flavors. The cheese is available in Moscow and will become available nationwide in the near future through the company’s distribution network.

Commenting on the announcement, Oleg Kuzmin, head of Wimm-Bill-Dann’s cheese production program, said: “This project will allow the company to become the leader on the Russian cheese market and build consumer confidence in domestically produced brands. In Russia, we see a substantial market for branded, high-quality cheeses available at an affordable price. We are making use of the latest equipment, in combination with traditional cheese-making methods and the careful selection of the finest raw materials. We have brought on board the industry’s top experts and set the highest levels of quality control for the final product.”

By the end of the year Wimm-Bill-Dann will launch the cheese production in Ufa region and will begin production of import-quality cheese in Altai region.

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.