William Carey, Chairman and CEO, commented, "During the first quarter we were able to increase the operating profit as a percentage of sales to 3.3% from 1.7% year on year because of lowered costs associated with the logistic synergies achieved through our previous acquisitions, as well as through organic growth of 12%."

The Company estimates that for the second quarter net revenue will be approximately $74.2 million compared to $45.5 million in the second quarter of 2001. Earnings per share are expected to be $0.36 compared to $0.11 in the second quarter of 2001.

For the full year 2002, the Company maintains its previous estimates of net revenue of $300-310 million and earnings per share of $1.10-1.15. The above estimates include the recently closed acquisitions and double digit organic growth.

CEDC is the leading importer of beers, wines and spirits, as well as the largest distributor of domestic vodka on a nationwide basis in Poland. The Company operates approximately 30 regional distribution centers in major urban areas throughout Poland, one of Europe's fastest-growing economies. It distributes many of the world's leading brands, including Johnnie Walker Scotch, Stock Brandy, Sutter Home, Torres, Mondavi and Concha y Toro wines, Corona, Beck's Pilsner, Foster's, Budweiser Budvar and Guinness Stout beers.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investor are referred to the full discussion of risks and uncertainties associated with forward-looking statements included in the Company's Form 10-K for the fiscal year ended December 31, 2001, and other periodic reports filed with the Securities and Exchange Commission.

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