Directorate Change

Ukrproduct Group Ltd
03 June 2005


Ukrproduct Group Ltd
3 June 2005
                          UKRPRODUCT GROUP LTD ('UPG')

                                  Board Change


Ukrproduct Group announces that Paul Williams, Non-Executive Director, has
decided not to offer himself for election as a Director at the upcoming AGM on
29 June, in order to pursue other business interests. Paul will stand down from
the Board on 20 August 2005.

Paul has been a Non-Executive Director of UPG since November 2004.

Jack Rowell, Non-Executive Chairman, said, "On behalf of the Board, I would like
to say how grateful we are to Paul for the contribution he made during the
Group's successful flotation on AIM this year. We wish him every success in the
future."


For further information, contact:

Ukrproduct Group
Sergey Evlanchik, CEO
Dmitry Dragun, FD
[phone]

Financial Dynamics
Benjamin Foster
Charles Watenphul
[phone]


Notes to editors

Ukrproduct Group (UPG) is one of Ukraine's leading producers of branded foods.
Headquartered in Kyiv and registered in Jersey, the company's main business
focuses is the production and distribution of branded food products, namely
packaged butter and processed cheese, to wholesale and retail outlets in Ukraine
through its own distribution network. UPG also produces skimmed milk powder for
export to countries across Europe as well as the Far East. UPG is the market
leader in the processed cheese and packaged butter segments, with estimated
market shares of 33% and 23% respectively. UPG is one of Ukraine's fastest
growing companies within its sector, with compound average sales growth of 55%
between 2001-2004.

On 11 February 2005,Ukrproduct Group Ltd, became the first Ukrainian trading
group to be admitted to AIM. The company successfully placed 27.2% of its share
capital at 53.5p per share, giving the company an initial market capitalisation
of £22.5 million. UPG recently reported strong preliminary results for the year
ended 31 December 2004. Sales rose to £27.1 million (2003: £17.6m) and PBT
increased to £1.7 million (2003: £1.2m).


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