Central European Distribution Corporation Announces 3-For-2 Stock Split

Sarasota, Florida: Central European Distribution Corporation, today announced that its Board of Directors approved a three-for-two stock split to be effected in the form of a 50% stock dividend. Stockholders approved an increase in the number of authorized shares of common stock from 20.0 million to 40.0 million at the annual meeting on May 3, 2004.

The Company's stockholders will receive three shares of common stock for each two issued and outstanding shares of the Company's common stock held by stockholders of record as of May 17, 2004, with fractional shares being rounded up to the next whole number of shares. Following the stock split, the Company will have approximately 16.2 million shares outstanding, based on the number of shares as of April 30, 2004. The Company has established May 28, 2004 as the payment date for the stock split to be effected by the planned dividend.

If a stockholder is contemplating a sale of the Company's shares from the record date to the payment date, he or she should consult a broker regarding entitlement to the dividend shares.

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 nine distribution centers and 58 satellite branches throughout Poland. It distributes many of the world's leading brands, including brands such as Johnnie Walker Scotch, Stock Brandy, Jose Cuervo Tequila, Sutter Home, Torres, Mondavi and Concha y Toro wines, Corona, Beck's, Foster's, Grolsch, Budweiser Budvar and Guinness Stout beers.

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

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. Investors 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, 2003, and other periodic reports filed with the Securities and Exchange Commission.