Moscow, Russia – October 27, 2006 – Wimm-Bill-Dann Foods OJSC [NYSE: WBD], Russia’s leading manufacturer of dairy products and beverages, today announced that certain shareholders of the Company took a decision to facilitate an increase in stock liquidity in the Russian market by offering up to 4,400,000 local common shares of Wimm-Bill-Dann Foods’ (or up to 10% of the outstanding shares) in a lead managed public offering. Wimm-Bill-Dann Foods will not sell any shares in, and will not receive any of the proceeds from, the proposed offering.
“I am not selling any shares, but I support my long-time partners in their desire to create additional liquidity of Wimm-Bill-Dann’s shares in the Russian market”, commented David Iakobachvili, Chairman of the Board of Directors.
“This is a milestone transaction for the company”, TonyMaher, Wimm-Bill-Dann’s ChiefExecutiveOfficer, added:“Ever since I joined the company I have been encouraging the shareholders to address investors’ concerns and raise liquidity in the Russian market. I think this is a very positive development for the company and the Russia stock market overall”.
Troika Dialog is the sole book-running manager of the offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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