Central European Distribution Corporation Adds New Alcohol Distributor to Group; Raises Full Year Guidance

Sarasota, Florida: Central European Distribution Corporation, today announced that it has added a new alcohol distributor in the southeast of Poland for an investment of approximately $2.0 million and assumed approximately $500,000 of working capital debt in an all cash transaction.

As a result, the Company is raising its 2004 full year net sales guidance from $529-$539 million to $543-$553 million and 2004 full year fully diluted earnings per share guidance from $1.26-$1.31 to $1.28-$1.33.

William Carey, President and CEO of CEDC, said, "We are pleased with this transaction as it is expected to result in a strengthening of our distribution platform in a very strategic region of Poland."

Mr. Carey continued, "We remain committed to our objective of obtaining $100-$120 million in net sales on an annualized basis this year through acquisitions. We are still on track to deliver approximately $50-$70 million of net sales on an annualized basis through the remainder of this year. We are also pleased to announce that the anti-monopoly office has confirmed their acceptance of our last acquisition, Miro Sp. z o.o."

In March 2004, CEDC announced that it was conducting due diligence of a small privately held Polish distillery. Mr. Carey said that "based on the results of our due diligence, we have decided not to continue the acquisition process of this small distillery at this point in time. However, we continue to actively pursue the acquisition of Polmos Bialystok, the largest distillery in Poland."

The Polish State Treasury is still looking to privatize Polmos Bialystok by the end of 2004.

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.