The Company also announced that it is raising its net sales guidance for 2003 from previously announced $385-$390 million to $415-$420 million. The Company is also raising full year 2003 earnings per share guidance to $2.20- $2.25 earnings per share up from previously announced guidance of $2.15-$2.20.

CEDC acquired 100% of the outstanding shares of Dako Galant for approximately $1.8 million, of which approximately $1.3 million was paid in cash and approximately $0.5 million was paid through the issuance of 20,853 shares at $24.20 in shares of CEDC common stock. The 20,853 shares of CEDC common stock issued to the former owners of Dako Galant will be subject to a one-year lock-up period.

William Carey, President and CEO of CEDC, said, "We are pleased that we will be adding Dako Galant to the CEDC group and expect the acquisition to be accretive to earnings on an annualized basis. We still have numerous regional acquisition candidates with whom we have ongoing dialogues that can add coverage in smaller regions and can add to our current client base."

Mr. Carey continued, "We are continuing to consolidate existing overlapping branches and have reduced five branches since January 2003. Currently, we have 42 branches but have further plans to consolidate an additional three to four more branches this year. We continue to look for synergies that can add value to CEDC."

CEDC is one of the leading importers of beers, wines and spirits, as well as the largest distributor of domestic vodka on a nationwide basis in Poland. The Company operates 44 regional distribution centers in major urban areas throughout Poland. It distributes many of the world's leading brands, including brands such as Johnnie Walker Scotch, Stock Brandy, Sutter Home, Torres, Mondavi and Concha y Toro wines, Corona, Beck's, Foster's, Budweiser Budvar and Guinness Stout beers.

Contact:
Jim Archbold,
Investor Relations Officer
Central European Distribution Corporation
941-330-1558