Kraft Foods Names Magnesen to Investor Relations Post

NORTHFIELD, Ill.--(BUSINESS WIRE)--May 29, 2002--Kraft Foods (NYSE:KFT), a global leader in branded foods and beverages, today announced that Mark Magnesen, 37, currently Controller of the Kraft Cheese Division, has been named Vice President, Investor Relations, effective June 10. Magnesen will report to Marla Gottschalk, Senior Vice President, Financial Planning and Investor Relations.

Magnesen will manage the company's relationship with the investment community and shareholders.

"Effective investor relations requires an in-depth understanding of the business and strong communications skills. Mark brings both to his new position," said Betsy D. Holden, Co-CEO of Kraft Foods, and President and CEO, Kraft Foods North America.

Roger Deromedi, Co-CEO of Kraft Foods, and President and CEO, Kraft Foods International, said, "As our link to the investment and shareholder community, Mark will play a critical part in helping to meet the information needs of investors around the world."

Magnesen joined Kraft in 1991 as a senior financial analyst in the Frozen Foods Division. Since that time, he has held a number of significant finance, strategy and general management positions in the Pizza and Cheese divisions.

Kraft Foods markets many of the world's leading food brands, including Kraft cheese, Maxwell House and Jacobs coffees, Nabisco cookies and crackers, Philadelphia cream cheese, Oscar Mayer meats, Post cereals and Milka chocolates, in more than 145 countries.

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