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Moscow, 30 April, 2003. Wimm-Bill-Dann Foods OJSC (NYSE: WBD) today announced plans to raise approximately US$150 million in the international bond markets via a Regulation S/Rule 144A Eurobond offering.

The offering has an intended maturity of five years, and it is structured as Loan Participation Notes issued by UBS (Luxembourg) S.A.. The size of the offering, timing for the launch and the final terms of the transaction will depend upon market conditions. Application has been made to list the Notes on the London Stock Exchange. The roadshow is scheduled to begin in London on May 2, 2003, followed by meetings with institutional investors elsewhere in Europe and the rest of the world. The pricing and launch of the bond are expected soon thereafter.

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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