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The Meeting of the Board of Directors of Milkiland N.V.



Kiev, 26 January 2011 – The Board of Directors of Milkiland N.V. (the “Company”) on its first meeting after the Company’s IPO on the  Warsaw Stock Exchange (the “WSE”) held at 25 January 2011 discussed a number of matters in connection with corporate governance, remuneration of the management, activity plans for the current year, and adopted the following:

1. To engage Mr. Gerard Heerink as Non-executive Director of Milkiland N.V. The Company believes that Mr. Heerink will contribute his extensive top management experience in FrieslandCampina, one of the world’s leading dairy producers.

2. To appoint Mr. Konstantin Laptsov as a Director for Ukrainian subsidiary of Milkiland N.V. (DE ”Milkiland Ukraine”).

3. To amend the Terms of Reference of the Board of the Company, in particular by granting the Board with the right to appoint the top management and approve the organizational structure of the Company.

4. To approve the bonus remuneration for the Company’s Management based at successful achievement of 2010 targets.

5. To approve renumeration for Board members for 2011.

6. To approve division of duties of Board Members of  the Company.

7. To approve a Board Activity Plan and IR&Reporting obligations schedule for 2011.

In respect for the paragraphs 1, 3-6, the Board of Directors will recommend to the next regular General Meeting of the Shareholders of Milkiland N.V. to approve the respective decisions.

Gerard Heerink

Gerard Heerink is recommended to the next regular General Meeting of the Shareholders of Milkiland N.V. to be appointed as Non-executive Director of the Company. Gerard has broad  experience in bulding the milk supply chains with the involvement of Duth farmers cooperatives  on the positions of a Managing Directors responsible for Cooperative affairs and Raw materials supply in the Head Office of FrieslandCampina and Friesland Foods (2004-2010). Before this, he ebraced several executive positions at Dutch Dairy Cooperatives and Organisations of Farmers (1982-2004). He holds a degree of Master of Science of Food Technology from Wageningen University and MBA in agricultural and food chain from Nijenrode Buisiness University.

About FrieslandCampina

Royal FrieslandCampina is a multinational dairy company wholly owned by the dairy co-operative Zuivelcoöperatie FrieslandCampina, which has 15,300 member dairy farms in the Netherlands, Germany and Belgium. The products of the company are for sale in more than 100 countries. Key regions are Europe, Asia and Africa. In 2009, the company’s sales amounted to 8.2 billion euros. The company employs 20,000 people in 24 countries.

Konstantin Laptsov

Konstantin Laptsov joined Milkiland in 2005 as Director of Laktis Cheese Plant. Since 2006 he holds a Director position of Akhtyrka Cheese Plant, Milkiland’s #2 cheese-making facility with over 500 employees. He has full P&L responsibility including raw milk collection, processing and quality control, sales and product delivery, modernization and efficiency optimization. His professional experience prior to Milkiland includes confectionery, transportation and logistics, and several years at the local government administration. He holds a degree of civil technologist engineer from Kharkiv Civil Engineering Institute.

About Milkiland N.V.

Milkiland is a TOP-5 diversified dairy producer operating in Russia and Ukraine, offering a wide range of dairy products such as fresh dairy, cheese and butter, to satisfy consumers in their everyday needs for healthy and tasty foods.

In Russia, the company produces fresh dairy products at Moscow-based OJSC “Ostankino Milk Combine” and sells under Ostankinskaya brand. Also, Dobryana Ukrainian cheese is sold in most of Russian regions. In Ukraine, the company operates 10 plants and offers wide range of fresh dairy, cheese and butter under Dobryana and Kolyada brands. Milkiland exports dairy products from Ukraine to over 30 countries.

Milkiland N.V. consolidated revenue in 2009 was EUR 200mn, net profit EUR 8.2mn. Shares of Milkiland N.V. have been listed on the Warsaw Stock Exchange since December, 6, 2010.

DE “Milkiland Ukraine” is its 100% subsidiary in Ukraine.

For more information please contact:

Sergey Trifonov,
IR Officer of Milkiland N.V.
tel. + 380 67 327 9838 mob.