Central European Distribution Corporation Confirms Third Quarter Earnings; Reaffirms Fourth Quarter Projections

Sarasota, Florida: Central European Distribution Corporation, today confirmed its previous projections for the third quarter 2001 for net income of $0.10 per share, compared to $0.03 per share for the same period in 2000. Net income rose 267% to $437,000 during the third quarter, from $119,000 for the same period in 2000. Net sales for the three-month period ended September 30, 2001 increased 31% to $42.1 million from $32.1 million for the same period in 2000.

The Company also reaffirmed its fourth quarter 2001 projections for earnings per share of $0.23 compared to earnings per share of $0.18 for the same period in 2000.

William Carey, Chairman and CEO, commented, "Our continuing sales and earnings growth reflect the strengthening of our position in the Polish alcohol distribution market. As a result of our previous acquisitions, we were able to leverage our position as a market leader enabling us to achieve an approximate 18% internal growth rate in the quarter."

CEDC is the leading importer of beers, wines and spirits, as well as the largest distributor of domestic vodka on a nationwide basis in Poland, a $3.5 billion-dollar market at the retail level in 2000. The Company operates twenty regional distribution centers in major urban areas throughout Poland, one of Europe's fastest growing economies, from which 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, Miller Genuine Draft, Corona, Beck's, Foster's, Budweiser Budvar and Guinness Stout beers.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties that are detailed from time to time in the Company's Securities and Exchange Commission reports.