Roger Deromedi Named Chief Executive Officer of Kraft Foods Inc.

Business Editors

NORTHFIELD, Ill.--(BUSINESS WIRE)--Dec. 16, 2003

The Board of Directors of Kraft Foods Inc. (NYSE:KFT) today announced the appointment of Roger K. Deromedi, 50, as Chief Executive Officer, effective immediately. Previously, Deromedi was Co-CEO of Kraft Foods and President of Kraft Foods International.

Betsy D. Holden, 48, formerly Co-CEO of Kraft Foods and President of Kraft Foods North America, will continue with the company in a global leadership position and remain a member of the Board of Directors.

Louis C. Camilleri, Chairman of Kraft Foods, said, "The appointment of Roger Deromedi as the Chief Executive Officer gives me great confidence in the future of Kraft. I have the highest regard for Roger and his capabilities. His sterling career has spanned continents, brands and businesses. Roger has demonstrated deep insight into what makes our business work. He has tremendous strategic and financial acumen and a firm, personal grasp of our key categories in all parts of the world. His leadership will help our brands and our people achieve their full potential. With his experience and track record, Roger brings Kraft what it needs to drive growth around the world."

Commenting on his appointment, Deromedi said, "I am honored to have the opportunity to lead this great company. Kraft has the finest people, the best brands and a bright future. We will do everything we can to leverage our global scale, build brand value and deliver sustainable growth. As fortunate as Kraft is to enjoy a long and rich heritage of success, I am absolutely certain that our best days still lie ahead of us.

"I am particularly gratified that Betsy Holden will stay on the team and bring her unsurpassed marketing talents and leadership abilities to the benefit of our business."

Deromedi was appointed Co-CEO, Kraft Foods Inc. and a member of the Kraft Board of Directors in 2001. He was named President and CEO, Kraft Foods International in 1999. He has more than 26 years of experience with the company in Europe, Asia and North America. Before assuming his current position, Deromedi served as Group Vice President, Kraft Foods International, and President, Asia Pacific from 1998 until 1999; President, Western Europe, Kraft Foods International from 1995 until 1998; and Executive Vice President, Kraft Foods North America, and General Manager of the Kraft Cheese Division from 1993 until 1995.

Deromedi is a director of The Gillette Company and a member of the Management Board of EAN International.

Kraft Foods markets many of the world's leading food brands, including Kraft cheese, Maxwell House and Jacobs coffees, Nabisco cookies and crackers, Oscar Mayer meats, Philadelphia cream cheese, Post cereals and Milka chocolates, in more than 150 countries.

For more information, please visit our website at www.kraft.com