Central European Distribution Corporation Completes its Eleventh Strategic Acquisition in Poland; Raises Full Year Guidance

Sarasota, Florida: Central European Distribution Corporation, today announced that it has completed its eleventh acquisition with the purchase of Miro Sp. z o.o., a strategic alcohol beverage distributor in the Southwest region of Poland near the Czech border.

The acquisition of Miro is expected to be accretive to CEDC's 2004 earnings by approximately $0.04 per fully diluted share. The acquisition of Miro is also expected to add approximately $11 million in net sales for the remainder of 2004.

As a result, the Company is raising its 2004 full year net sales guidance from $518-$528 million to $529-$539 million and 2004 full year fully diluted earnings per share guidance from $1.85-$1.92 to $1.89-$1.96.

CEDC acquired 100% of the shares of Miro Sp. z o.o. for approximately $1.617 million. The transaction is subject to anti-trust approval. Cash paid was $1.367 million and approximately $250,000 will be paid in shares of CEDC common stock only after receipt of final approval. The shares of CEDC common stock to be issued to the owners of Miro Sp. z o.o. will be subject to a one- year lock-up period.

William Carey, President and CEO of CEDC, said, "We are pleased to be adding Miro to the CEDC group. Miro has a strong client base and solid management team who has over 12 years of experience in alcohol distribution in their region of Poland."

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 60 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.