Moscow, March 5, 2003. Wimm-Bill-Dann Foods OJSC (NYSE: WBD) today announced that the company had installed new production lines at two of its dairy plants located in the Central Region of Russia, as part of a continuing modernisation project aimed at further improving operating efficiencies and maintaing the highest quality of its products across its dairy busines. The total planned investment in the two plants is over US$9.7 million.

The company’s flagship Lianozovo Dairy Plant, part of Wimm-Bill-Dann since 1994, and one of the largest dairy factories in Europe, has been equipped with a fresh cheese dessert machine by Hassia (Germany) with a capacity of 21,800 cups of regular or whipped desserts per hour. The machine is capable of working with two types of packaging – 200 and 125 ml containers. The upgrade will allow Lianozovo Dairy Plant to significantly increase its dessert-making capacity. The company intends to use the new equipment to manufacture new products under the Bio-Max, Chudo, Vesely Molochnik and Domik v Derevne brands, as well as relaunch existing products in new packaging. The total investment in this project is US$6.4 million. UHT Milk Production Launched at Anninskoe Moloko OOO (Voronezh Region) The modernisation of Anninskoe Moloko OOO, acquired in September 2001, included the installation of two UHT milk lines, one new and one moved from Lianozovo Dairy Plant, as well as a warehouse upgrade. The two lines are now capable of producing up to 150 tons of drinking milk per day under the Domik v Derevne brand. The total investment in this project is US$3.3 million. This investment reflects the company’s strategy of moving production of UHT drinking milk to its regional factories, with the Moscow-based Lianozovo and Tsaritsino Dairy Plants focusing on manufacturing high value-added products. These investments represent the latest step in an ongoing modernisation programme encompassing both the company’s existing and recently acquired facilities, in order to meet growing consumer demand and to achieve greater levels of operating efficiency. The programme is aimed at ensuring Wimm-Bill-Dann’s dairy products continue to adhere to world-class standards of quality.

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.