Lifeway Foods Inc.

Julie Smolyansky has been the Director of Sales and Marketing for Lifeway Foods since September 1997. However, because she is also the daughter of Lifeway founder Michael Smolyansky, one could say Julie has actually been with this successful Chicago company from the very start. She has vivid memories of being an early "guinea pig," sampling new flavors and formulations, and traveling to food shows across the country to help her dad as he built his business into the only U.S. company ever taken public by a Russian immigrant. Working with her father to build on his successes and take Lifeway into the next generation is now Julie's focus. In her official position at Lifeway, Julie has begun working toward her ultimate goal to take Lifeway's kefir products from niche to mainstream with a new marketing, advertising, and public relations campaign that has been directly responsible for the growth of Lifeway Foods in the last 3 years. Under Julie's marketing plan, Lifeway has seen an increase in sales of over 4 million dollars, or approximately 70%. Most recently, Julie helped to develop the new Lifeway Organic line of kefir products. The organic line, to be introduced in the spring and summer of 2001, offers yet another kefir alternative for health conscious consumers and rounds out Lifeway's product offerings to include choices for people of every lifestyle and taste. Her success is the result of good genes and solid training right here in Illinois. Julie is a graduate of the University of Illinois (B.A., 1996), where she studied effects of advertising and cultural influences. She has presented research at the American Psychological Association's Annual Meeting, and has spoken at Nutracon's annual anti-Aging Nutraceutical conference.

Edward Smolyansky has served as the Controller of the Company since June 2002 and acted as an executive assistant to his father, Lifeway's founder, former President and Chief Executive Officer Michael Smolyansky since being receiving his baccalaureate degree in finance from Loyola University of Chicago in December 2001. Edward Smolyansky is the brother of Company President and Chief Executive Officer Julie Smolyansky and the son of Lifeway's Chairperson of the Board of Directors, Ludmila Smolyansky. Edward Smolyansky will now serve as the Chief Executive Officer of the newly acquired Fresh Made.

After leaving his native land of Russia in 1976 with just a dollar in his pocket and a wife and small daughter, Michael knew that he had his work cut out for him. He arrived in Chicago, and for almost 10 years, he steadily built a career as a successful engineer. It was only after a 1985 trip to Germany in which he had kefir for the first time since leaving Eastern Europe, that he and his wife hatched the idea of making kefir in the United States. Upon returning to America, he began making the first bottles of kefir. He started out small, creating kefir in his basement, and going on sales calls to Chicago area grocery stores. It was a year later in 1986 that he eventually broke out onto the store shelves, having sold his first order to a Treasure Island outlet. By 1988, the company was expanding so rapidly, Lifeway needed to secure financing in order to continue their record growth. Michael did not know much about the stock market, but after hours of studying and conversations with friends whose advise went unheeded, Michael took the company public. As a monument to this day, Lifeway is still traded on the NASDAQ small caps under the symbol LWAY. Almost 10 years after this initial public offering, Michael's daughter, Julie Smolyansky, joined the Lifeway team as Director of Sales and Marketing, to start spreading the word about kefir. After three production renovations, making Lifeway the largest kefir manufacturer in the country, Lifeway captured a 20% interest from Danone Group (in the U.S. Danon). Lifeway is currently focused on promoting health and nutrition through educating the public about the benefits of kefir. They have just begun working with a registered dietician to assist in the development of a broader understanding amongst health professionals regarding the link between probiotic health benefits and kefir.

Juan Carlos Dalto was appointed President and CEO of The Dannon Company on July 1, 2004. He has extensive international background in the packaged goods industry and will have strategic and direct responsibilities for dairy products in the United States and Canada. Mr. Dalto joined Dannon's parent company, Groupe Danone, as Marketing VP for Danone Argentina, his native country, in December 1997 after which he served as CEO for Danone Portugal in 2000. He continued his progression within the company, becoming President and CEO for Danone Italia in 2002 until his most recent appointment. Prior to joining Groupe Danone, Mr. Dalto worked as a Marketing Manager for Kraft Suchard Argentina's Ice Cream Business and as a Marketing Director at Pillsbury Argentina. Mr. Dalto holds a Masters in Strategic Marketing from Adam Smith Open University, Buenos Aires, Argentina and a Diploma for Business Executives in Strategic Marketing Planning from University of Michigan, MI. He also holds a degree in Industrial Engineering from the Buenos Aires Institute of Technology.

POL SIKAR has been a Director of the Company since its inception in February 1986. He is a graduate with a Master s degree from the Odessa State Institute of Civil Engineering in Russia. For more than 11 years, he has been President and a major shareholder of Montrose Glass & Mirror Co., a company providing glass and mirror products to the wholesale and retail trade in the greater Chicago area. Mr. Sikar devotes as much time as necessary to the business of the Company. Mr. Sikar holds no other directorships in any other reporting company.