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You are invited to participate in a conference call with senior management to discuss Wimm-Bill-Dann’s financial results for the year ended December 31, 2003, at 5 pm (Moscow time) / 2 pm (London time) / 9 am (New York time) on Monday, March 22, 2004.

Sergei Plastinin (Chief Executive Officer), Vladimir Preobrajensky (Chief Financial Officer) and Marina Kagan (Head of Corporate Communications) will present the results and will be available to answer questions.

To participate in the call, please dial:

In the UK and international: +44 (0) 1452 542 300
US toll free: 1 866 220 1452
UK local dial in: 0845 245 3471

An instant replay will be available for one week following the conference call:

In the UK and international: +44 1452 550 000
Access code: 11077234#

If you have any questions regarding this call, please contact Shared Value at: +44 20 7321 5037

Wimm-Bill-Dann Foods OJSC
16 Yauzsky Boulevard, Moscow, Russia
Phone: +7 095 733-97-26/9727
Fax: +7 095 733-97-25
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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