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June 9, 2005
Central European Distribution Corporation Chosen to Enter Negotiations to Acquire 61% of Polmos Bialystok Bala Cynwyd, Pennsylvania: Central European Distribution Corporation, announced today that the Polish Treasury Ministry has decided to enter into negotiations with CEDC on a nonexclusive basis to purchase 61% of the outstanding capital stock of Polmos Bialystok as part of the government's privatization of Polmos Bialystok. The Polish Treasury Ministry has given CEDC five days to negotiate from June 13 to June 17, 2005. William Carey, President and CEO, said, "We are extremely pleased that the Polish Treasury Ministry has entered into negotiations with us. We are confident that we will be able to effectively negotiate with the Polish Treasury Ministry any open items to permit us to finalize the transaction, subject to anti-trust approval from the Polish anti-monopoly office. We expect to be able to positively address the concerns of the employees of Polmos Bialystok and are prepared to offer a fair and equitable package to them." 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 13 distribution centers and 78 satellite branches throughout Poland. It distributes many of the world's leading brands in Poland, including brands such as Johnnie Walker Scotch, Stock Brandy, Jose Cuervo Tequila, Sutter Home, Torres, Mondavi and Concha y Toro wines, Corona, Foster's, Grolsch, Budweiser Budvar and Guinness Stout beers. Contact: 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 CEDC 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. CEDC 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 included in CEDC's Form 10-K for the fiscal year ended December 31, 2004, and in other periodic reports filed by CEDC with the Securities and Exchange Commission. |
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