Moscow, February 16, 2004 — Wimm-Bill-Dann Foods OJSC [NYSE: WBD] today announced full year 2003 sales volumes.

In the year 2003, the combined sales volumes in the dairy, juice and mineral water segments increased 4.3% year-on-year and amounted to 1,484.5 thousand tons. By market segment, juice sales volumes amounted to 473.7 thousand tons, demonstrating a slight decrease (0.6%) over the year 2002. In the dairy segment, sales volumes were 6.3% higher than in the last year, at 1,005.9 thousand tons. Mineral water sales, which commenced in the middle of 2003, amounted to 4.9 thousand tons.

Wimm-Bill-Dann plans to announce full year 2003 financial results at the end of March 2004.

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.