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2002

30.05.2006
Wimm-Bill-Dann board of directors recommends dividend payment and approves affiliate network



The Company’s Board of Directors has recommended to the General Meeting of Shareholders of Wimm-Bill-Dann Foods OJSC, that will take place on June 30, 2006, the payment of dividends for the financial years 2002-2004 in the amount of RUB4.60 (approximately US$0.17 ) per share, as well as for the first quarter of 2006 in the amount of RUB2.27 (approximately US$0.081) per share.

The Board of Directors also approved guidance on the Company’s dividend policy. Taking into consideration a number of financial factors, including sustainability, as well as capital requirements and resources, the Board of Directors expects the Company’s annual dividend to be in the range of US$0.50-0.60 per share for fiscal year 2006. It is intended that similar dividends will be paid in the future, subject to the Company’s profitability.

In addition, the Board of Directors discussed the optimization of Wimm-Bill-Dann’s structure. In order to increase the effectiveness of the Company’s business, it was decided to create a network of 11 Wimm-Bill-Dann affiliates on the territory of the Russian Federation: two affiliates in Moscow and one in each of the following cities: Nizhni Novgorod, Timashevsk, Volgograd, Krasnodar, Rostov-on-Don, St Petersburg, Ufa, Ekaterinbourg and Vladivistok.


Wimm-Bill-Dann Foods OJSC
16 Yauzsky Boulevard, Moscow, Russia
Phone: +7 495 105 5805
Fax: +7 495 105 5800
web: http://www.wbd.com
E-mail: kagan@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.


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