Board of Directors of Wimm-Bill-Dann Foods OJSC Confirms Issue of Ruble Bonds.

MOSCOW -- Wimm-Bill-Dann Foods OJSC (NYSE:WBD) today announced that it plans to issue five-year ruble bonds for RUB3 billion (approximately US$100 million).

Wimm-Bill-Dann's Board of Directors approved one issue of five-year ruble bonds for RUB3 billion at its scheduled meeting, which took place on October 21, 2005. The bonds will be guaranteed by Wimm-Bill-Dann's subsidiary, Siberian Dairy Plant. This issue is aimed at refinancing Wimm-Bill-Dann's current indebtedness and financing future capital expenditures. ZAO Raiffeisen Bank Austria and Investment Bank Trust are the organizers of the issue.

Earlier, the General Shareholders Meeting of Siberian Dairy Plant confirmed that the plant will guarantee two of Wimm-Bill-Dann's bond issues pending approval by Wimm-Bill-Dann's Board of Directors.

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 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 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 products and beverages in Russia. The company was founded in 1992.

The Company currently owns 28 manufacturing facilities in Russia and the Commonwealth of Independent States (CIS), 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.

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.