Moscow, Russia — June 3, 2004 — Wimm-Bill-Dann Foods OJSC [NYSE: WBD] today announced the appointment of Francesco Giuffredi as Group Head of Production. the above appointment and the creation of this new position at Wimm-Bill-Dann reflect the company’s strategic objective of optimizing its business and management structures in order to enhance overall operating efficiency.

Mr Giuffredi joined Parmalat in 1981 as assistant to the technical general manager and stayed with the company for 23 years until March of last year. As a Board member and the head of production, Mr Giuffredi was responsible for the start up and integration of regional production facilities into the group. He was specifically responsible for the developing markets of Eastern Europe, Central America and China. He was also responsible for the group’s Research and Development, technical innovations and quality control.

“We are delighted that we are being joined by one of the most respected and experienced professionals in the dairy business,” — Sergei Plastinin said in a statement. “Francesco managed to build a cost effective and efficient network of production facilities in over 30 countires. Of course, I am aware of the current situation at Parmalat, but remain convinced that the production side of Parmalat’s business was a highly sophisticated and enviable one.”

Mr Giuffredi was born in Parma, Italy, where he graduated from the Industrial Chemistry University. Prior to joining Parmalat, Mr Giuffredi worked for Montedison and ENI for over 10 years.

“When I look at the most modern equipment that Wimm-Bill-Dann has today, I can hardly beileve that only 20 years ago, in 1983, I first came to the then Soviet Union to sell a UHT production line to a dairy plant in Kiev. It was then, in 1984, that the USSR produced its first ever UHT milk. A lot of progress has been made since then, and I really believe that Wimm-Bill-Dann was a major player in bringing this progress about. Wimm-Bill-Dann has built a strong production base, both in Russia and in the regions. I believe I can apply my global experience of integrating newly acquired businesses and help create a cost effective and synergized production base for Russia’s market leader.”

The newly appointed Head of Group Production will report directly to the Chief Executive Officer Sergei Plastinin.

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.