Kraft Foods Inc. (NYSE: KFT), a global leader in branded foods and beverages, today announced the election of three new members to its Board of Directors: John C. Pope, Chairman, PFI Group, LLC; Mary L. Schapiro, President, NASD Regulation, Inc.; and Deborah C. Wright, President and Chief Executive Officer of Carver Bancorp, Inc. (AMEX:CNY). A fourth outside director will be named at a later date, bringing the total to nine Board members.

“We are pleased to welcome such successful business leaders to the Kraft Foods Board of Directors,” said Geoffrey C. Bible, Chairman of the Board of Directors of Kraft Foods Inc. “Their insight and experience will be tremendous assets to the company. We look forward to working with them in guiding the future direction of Kraft Foods.”

Pope, 52, is Chairman of PFI Group, LLC, a financial management firm that invests primarily in venture capital opportunities. Previously he was Chairman of MotivePower Industries, Inc., a manufacturer and remanufacturer of locomotives and locomotive components. Prior to that position, he was President and Chief Operating Officer and a member of the Board of United Airlines and UAL Corporation.

Pope currently serves on the Boards of Air Canada; Dollar Thrifty Automotive Group; Federal-Mogul Corporation; Per-Se Technologies, Inc.; Wallace Computer Services, Inc.; and Waste Management, Inc., as well as the John G. Shedd Aquarium in Chicago. A graduate of Yale University, he has a Master’s degree from the Harvard Graduate School of Business Administration.

Schapiro, 46, is President of NASD Regulation, Inc. (NASDR) and a member of the board of NASD, Inc. Previously, she was Chairman of the Commodity Futures Trading Commission after serving as Commissioner of the Securities and Exchange Commission. Before being appointed to the SEC, Schapiro was General Counsel and Senior Vice President for the Futures Industry Association. She is a member of the District of Columbia Bar and the American Bar Association.

Schapiro is a member of the Board of Trustees and Vice Chairman of the Audit Committee of Franklin and Marshall College and the Board of Directors of Cinergy Corp. A graduate of Franklin and Marshall College, she has a J.D. degree from The National Law Center of George Washington University.

Wright, 43, is President and Chief Executive Officer of Carver Bancorp, Inc., the holding company for Carver Federal Savings Bank, a federally chartered savings bank and the nation’s largest African- and Caribbean-American operated bank. She was previously President and Chief Executive Officer of the Upper Manhattan, Empowerment Zone Development Corporation, where she led the start-up of the nation’s largest Empowerment Zone.

Wright serves on the Board of Overseers of Harvard University and on the Boards of The Empire State Development Corporation, The Initiative for a Competitive Inner City; The New York City Partnership, Inc.; and The Ministers and Missionaries Benefit Board of the American Baptist Churches. She earned her A.B., M.B.A. and J.D. degrees from Harvard University.

In addition to the three newly elected directors, Kraft’s Board includes: Geoffrey C. Bible, Chairman of the Kraft Foods Board of Directors and Chairman of the Board of Directors and Chief Executive Officer, Philip Morris Companies Inc.; Louis C. Camilleri, Senior Vice President and Chief Financial Officer of Philip Morris Companies Inc.; Roger K. Deromedi, Co-Chief Executive Officer, Kraft Foods and President and Chief Executive Officer, Kraft Foods International; Betsy D. Holden, Co-Chief Executive Officer, Kraft Foods and President and Chief Executive Officer, Kraft Foods North America; and William H. Webb, Chief Operating Officer, Philip Morris Companies Inc.

Kraft Foods markets the world’s favorite food and beverage brands — including Kraft cheese, Jacobs and Maxwell House coffees, Nabisco cookies and crackers, Philadelphia cream cheese, Oscar Mayer meats, Post cereals, and Milka chocolates – in more than 140 countries.

For more information, please visit our website at www.kraft.com