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21 May 2004Alfa-Bank and the Lauder Institute have selected Nestlé as the 2004 Winner of the Annual Award for Excellence in Foreign Investment in Russia — Moscow, Russia

Nestlé selected as the 2004 winner of the Award for Excellence in Foreign Investment, sponsored by Alfa-Bank and the Lauder Institute of the Wharton School of Business.

In a special ceremony presided by the Hon. Sergei Lavrov, Foreign Minister of Russia, Nestlé received the prestigious Award for Excellence in Foreign Investment presented by Alfa-Bank and the Lauder Institute. This award honors a foreign firm that is conducting business successfully in Russia, while at the same time contributing to a broader improvement of Russia’s business culture and society as a whole. Mr. Lars Olofsson, Vice President for Nestlé S.A. accepted the Award.

In presenting the Award Alfa-Bank President Peter Aven spoke of the motivation and rationale behind the event. “We wanted to develop a process that would help to highlight the critical role that direct foreign investment plays in the Russian economy. Russia benefits greatly from foreign direct investment, not just in economic terms, but also because foreign investors have an important social and institutional impact as well. The Alfa-Bank — Lauder Institute award is one small way that we can help to build awareness of the need for further reforms and promote a dialogue on the best means to encourage new foreign direct investment”.

Speaking at the ceremony Minister Lavrov emphasised the importance of FDI in Russia. “Attracting foreign investment is one of the most important priorities” of Russian foreign policy. “A lot has been done in this direction — legal base has been improved, the whole economy became healthier that favored investment flow in Russia”. “Attracting foreign investments is very important to increase the competitiveness of Russian enterprises and economy as a whole”.

The Award is offered to the foreign company operating in Russia which best combines successful business operation with a strong sense of social interest and attention to training and preparing Russian workers and managers. Nestlé, one of the leading international investors and producers in the Russian market, has established an impressive business record and an equally impressive record on social issues, training and education.

The Award is presented by a distinguished jury appointed by Alfa-Bank and the Lauder Institute. Jury members for the 2004 Award are: Peter Aven (President of Alfa-Bank), Richard Burt (Former US Ambassador to Germany), Yegor Gaidar (Director, Institute for the Economy in Transition), Richard Herring (Director of the Lauder Institute), Shiv Khemka (Board of Governors, Lauder Institute), Paul Fribourg (Board of Governors, Lauder Institute), Leonard Lauder (Chairman, Estee Lauder Companies), Raf Shakirov (Editor in Chief, Izvestia Newspaper), Bernie Sucher (Chairman, Alfa Capital).

Past Winners: 2003 — Procter & Gamble.

For additional information regarding this project, contact Svetlana Smirnova — Head of External Public Relations at +7 095 785-96-50.

Additional information about Nestlé in Russia:

Jennifer Galenkamp, Head of External Corporate Affairs, Nestle Food LLC
Tel.+7 095 725-70-00
Jennifer.Galenkamp@ru.nestle.com

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