Washington, D.C. 20549


Report of Foreign Issuer
February 17, 2004


Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934


Commission file number:  333-14278



(Exact name of Registrant as specified in its charter)


Russian Federation

(Jurisdiction of incorporation or organization)


16, Yauzsky Boulevard

Moscow 109028

Russian Federation

(Address of principal executive offices)


Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.


Form 20-F  ý    Form 40-F  o


Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.


Yes  o    No  ý








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.


- ends -


For further enquiries contact:


Olga Motovilova
Wimm-Bill-Dann Foods OJSC
Yauzsky Boulevard, 16, Moscow
Phone: +7 095 733 9726/9727
Fax: +7 095 733 9725


Marina Kagan
Shared Value Ltd
Phone: +44 20 7321 5019
Fax: +44 20 7321 5020



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.




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 24 manufacturing facilities in 20 locations 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 strong and 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 18,000 people.


Wimm-Bill-Dann was rated first best out of 45 firms in terms of transparency in the S&P survey of leading Russian companies, and was rated third best in the latest Brunswick UBS Warburg survey of corporate governance in Russia.


Wimm-Bill-Dann was awarded best European Equity Deal of 2002 by Euroweek and Institutional Investor magazines. In addition, the company received the Grand Prix for Best Overall Investor Relations among small and mid-cap companies at the First Annual IR Magazine Russia Awards held in 2004 and organized by IR Magazine and the Association of Investor Relations Professionals.





Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.











/s/ Vladimir V. Preobrajensky




Vladimir V. Preobrajensky



Chief Financial Officer
Wimm-Bill-Dann Foods OJSC







Date:   February 17, 2004