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July 2, 2003
Central European Distribution Corporation Announces Record Second Quarter Net Sales; Added to Russell Indexes Sarasota, Florida: Central European Distribution Corporation, today announced that it had record second quarter net sales of over $104 million compared to $71.5 million in the second quarter 2002 or a 46% increase year on year. The Company also announced that the Company has been added to the Russell 3000(R), 2500(R) and 2000(R) stock indexes, widely used as benchmarks for investment strategies. William Carey, President and CEO, commented, "We are pleased with the addition to the Russell Indexes. We are also pleased to announce that the second quarter was a positive quarter for us as we continue to see our buying and selling leverage in the market drive sales to record levels. Our strong organic growth of 13% for the quarter continues to be in line with previous guidance and is 2% over our organic growth for the first quarter 2003." The Russell 3000(R) Index is composed of the 3,000 largest companies in the U.S. stock market by market capitalization as of the end of May. Companies that are members of the Russell 3000(R) Index are automatically included in either the large-cap Russell 1000(R) Index or the small-cap Russell 2000(R) and can be added to the other Russell Indexes. CEDC has been added to the Russell 2500(R) and 2000(R) Indexes. Central European Distribution Corporation was added to the indexes as part of Frank Russell's annual reconstitution of U.S. equity indexes. This membership will remain in effect for one year. 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 52 regional distribution centers in major urban areas throughout Poland. It distributes many of the world's leading brands, including brands such as Johnnie Walker Scotch, Stock Brandy, Sutter Home, Torres, Mondavi and Concha y Toro wines, Corona, Beck's, Foster's, 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 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, 2001, and other periodic reports filed with the Securities and Exchange Commission. |
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