Board of Directors of Wimm-Bill-Dann Foods OJSC Adopts Corporate Governance Code.MOSCOW -- Wimm-Bill-Dann Foods OJSC OJSC Open Joint Stock Company (NYSE NYSE See: New York Stock Exchange :WBD WBD Will Be Done WBD Wide Band Data Instrument (Cluster spacecraft) WBD Wideband Data ) today announced that the company had adopted its Corporate Governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. Code. Wimm-Bill-Dann's Board of Directors approved the Company's Corporate Governance Code at its scheduled meeting, which took place in person on December 17, 2004. The adoption of the Code comes in line with the Company's commitment to further enhance its corporate governance practices. The Code sums up and reinforces corporate governance principles, which are already being widely used within the company. It also outlines their implementation in the light of existing legislative norms, securities trading and capital markets rules. The Corporate Governance Code enshrines corporate governance principles, set forth by the World Economic Forum (WEF WEF World Economic Forum WEF Water Environment Federation WEF Winter Equestrian Festival (Wellington, FL) WEF With Effect From (aviation) WEF World Environment Fund WEF Weight Enumerating Function ) and the Russian Union of Industrialists and Entrepreneurs The Russian Union of Industrialists and Entrepreneurs promotes the interests of business in Russia. It has over 1,000 members. These include both private and state-owned companies, factories, and foreign and Russian plants. (RSPP RSPP Reflective Safety Promotional Products RSPP Reduced Speed Pump Pressure RSPP Remote Site Pilot Project ), which had already been subscribed to by the Company's Board of Directors. It also outlines relationship structure among the Company's Shareholders, the Board of Directors, its Committees, the Corporate Secretary and the Management Board. The Corporate Governance Code also mentions that Wimm-Bill-Dann's Code of Ethics Code of Ethics can refer to:
The text of the Corporate Governance Code will be posted on Wimm-Bill-Dann's Internet site. The next meeting of the Board of Directors, the first one in 2005, will take place in person on February 11, 2005. For further enquiries contact: Marina Kagan Wimm-Bill-Dann Foods OJSC Yauzsky Boulevard, 16, Moscow 109028 Russia Phone: +7 095 733 9726/9727 Mobile: + 7 095 762 2387 Fax: +7 095 733 9725 e-mail: kagan@wbd.ru www.wbd.com www.wbd.ru --------------------------------------------- Some of the information contained in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Wimm-Bill-Dann Foods OJSC, as defined in the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Foods OJSC files from time to time with the U.S. Securities and Exchange Commission, specifically, the Company's most recent Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" in our Form 20-F, 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, and risks associated with our competitive environment, acquisition strategy, ability to develop new products or maintain market share, brand and company image, operating in Russia, volatility of stock price, financial risk management, and future growth. NOTES TO EDITORS Wimm-Bill-Dann Foods OJSC is a leading manufacturer of dairy and juice products in Russia. The company was founded in 1992. The Company currently owns 25 manufacturing facilities in 21 locations in Russia and the Commonwealth of Independent States Commonwealth of Independent States (CIS), community of independent nations established by a treaty signed at Minsk, Belarus, on Dec. 8, 1991, by the heads of state of Russia, Belarus, and Ukraine. Between Dec. 8 and Dec. (CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S ), as well as trade affiliates in 26 cities in Russia and the CIS. Wimm-Bill-Dann has a diversified branded portfolio with over 1,100 types of dairy products and over 150 types of juice, nectars and still drinks. The company currently employs over 17,000 people. In April 2004 Wimm-Bill-Dann was assigned the rating of corporate governance by Standard&Poor's at the level 7+ (7.6 according to the national scale, maximum 10). Wimm-Bill-Dann was awarded Grand Prix for Best Overall Investor Relations in 2004 - Small & Mid cap companies and Best Investor Relations Officer in 2004- Small & Mid cap companies at the Second Annual IR Magazine Russia Awards held in December 2004 and organized by IR Magazine and the Association of Investor Relations Professionals. Wimm-Bill-Dann previously received the Grand Prix for Best Overall Investor Relations in 2003- Small & Mid cap - at the first annual IR Russia Awards Ceremony held in Moscow last year. |
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