Alfa-Bank — Lauder Institute Award for Excellence in Foreign Investment in Russia
20 May 2004Alfa-Bank — Lauder Institute Award for Excellence in Foreign Investment in Russia — Moscow, Russia

Alfa-Bank and the Lauder Institute of the Wharton School of Business have announced that the 2004 Award for Excellence in Foreign Investment in Russia will be given to Nestlé for its record of successful business operations in Russia.

In announcing the Award, Alfa-Bank Chairman Mikhail Fridman noted … “Few companies have come so far in such a short period of time in this market as Nestlé. Nine years ago, Nestlé opened a small import business in Moscow. Since then, they have come to dominate key consumer markets in the areas of chocolate, instant coffee, ice cream and infant nutrition. Whereas their initial market position was as an importer, Nestlé is now a leading food producer with twelve production facilities in Russia and employing over 5,500 people.”

“The Award was envisioned to recognize precisely this type of investment, not only in terms of market position, but also in terms of generating local employment and developing local expertise and management in Russia. In this regard, no one has done better in the Russian market than Nestlé and we are proud to present the 2004 Award to this outstanding company.”

The Award will be presented at a special ceremony conducted under the Patronage of the Ministry of Foreign Affairs of Russia, held in conjunction with the Wharton Global Alumni Forum in Moscow on May 21, 2004. Mr. Lars Olofsson, Nestlé Executive Vice President for the European Zone will accept the Award.

The 2003 Award for Excellence in Foreign Investment in Russia was presented to 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