Central European Distribution Corporation Amends Proposed Plan of Reorganization and Terminates 2013 Notes Exchange

      Central European Distribution Corporation Amends Proposed Plan of
              Reorganization and Terminates 2013 Notes Exchange

PR Newswire

WARSAW, Poland, March 18, 2013

WARSAW, Poland, March 18, 2013 /PRNewswire/ --Central European Distribution
Corporation (NASDAQ: CEDC) announced today that CEDC has terminated its offer
to exchange new common stock in CEDC for its outstanding 3.00% Senior Notes
due 2013 (the "2013 Notes"), launched on February 25, 2013 and amended on
March 8, 2013 (the "2013 Notes Exchange Offer"). CEDC will continue to
solicit votes from the holders of the 2013 Notes on an amended pre-packaged
chapter 11 plan of reorganization (the "Amended Plan") that is included in a
supplement (the "Supplement") to the offering memorandum distributed by CEDC
in respect of the exchange offers launched on February 25, 2013, as amended on
March 8, 2013 (the "Offering Memorandum").

The 2013 Notes Exchange Offer has been terminated in light of the agreement
reached between Roust Trading Ltd. ("Roust Trading"), who holds approximately
$102.6 million principal amount of the 2013 Notes, and other beneficial owners
holding an aggregate of approximately $85.7 million in outstanding principal
amount of the 2013 Notes (the "2013 Steering Committee").After extensive
discussion with representatives of Roust Trading and the 2013 Steering
Committee and deliberation regarding CEDC's alternatives, the CEDC Board of
Directors resolved unanimously today to terminate the 2013 Notes Exchange
Offer and proceed with a vote on the Amended Plan in support of the 2013 Notes
Proposal as described below.

Under the terms of the Roust Trading agreement with the 2013 Steering
Committee, as described in Roust Trading's Form 13D/A filed with the United
States Securities and Exchange Commission on March 14, 2013 (the "RTL 2013
Notes Proposal"), Roust Trading will make an offer to exchange, subject to
certain conditions, 2013 Notes not held by Roust Trading – approximately
$155.3 million principal amount of the 2013 Notes – for a pro rata share of an
aggregate of $25 million in cash and an aggregate principal amount of $30
million secured notes to be issued by Roust Trading (the "RTL Exchange
Offer"). Based on this proposal, holders of 2013 Notes participating in the
RTL Exchange Offer would receive an estimated recovery of 35.4% of principal
amount on the 2013 Notes.

Alternatively, under the Amended Plan, holders of 2013 Notes and Roust
Trading's $20 million aggregate principal amount of unsecured notes (together
with the 2013 Notes, "Unsecured Notes") will receive a pro rata share of $16.9
million in cash. Roust Trading and the 2013 Steering Committee have announced
that they collectively hold approximately 73% of the outstanding principal
amount of the 2013 Notes. Based on this proposal, if the Amended Plan is
approved by the requisite amount of holders of Unsecured Notes, holders of
2013 Notes that do not participate in the RTL Exchange Offer would receive an
estimated recovery of 6% of principal amount on the 2013 Notes.

The Supplement and Amended Plan also reflect the proposed restructuring of the
2016 Notes. The economic terms remain unchanged from those described in the
Offering Memorandum. As announced earlier today, however, a new record date,
consent deadline, and voting deadline have been set with respect to both the
2013 Notes and the 2016 Notes.

CEDC's advisors will host a telephonic conference call on March 21, 2013 at
10:00 a.m. EDT to further explain the solicitation and related mechanics and
to respond to questions by holders of the 2013 Notes and the 2016 Notes. The
U.S. telephone number for the conference call is +1-888-312-3051. The
international telephone number for the conference call is +1-719-785-9449.
The conference code is 4328703. The subject of the conference call will be
strictly limited to an explanation of the tender, consent and voting
requirements. No financial or other information will be shared on the call,
and neither CEDC nor its representatives will take any position on the call
whether holders of 2016 Notes should tender their notes pursuant to the
exchange.

CEDC continues to believe that a successful restructuring will improve its
financial strength and flexibility and enable it to focus on maximizing the
value of its strong brands and market position. Any chapter 11 filing to
implement the Amended Plan would be limited solely to CEDC and its US
subsidiaries. None of CEDC's Polish, Russian, Ukrainian or Hungarian
operations would become the subject of any insolvency proceedings. The
restructuring is expected to have no effect on CEDC's operations in Poland,
Russia, Hungary or Ukraine, all of which will continue doing business as
usual. Obligations to all employees, vendors, and providers of credit support
lines in Poland, Russia, Hungary and Ukraine will be honored in the ordinary
course of business without interruption. CEDC believes that its subsidiaries
in Poland, Russia, Hungary and Ukraine have sufficient cash and resources on
hand to meet all such obligations.

None of CEDC, CEDC Finance Corporation International, Inc., or the information
and exchange agent makes any recommendation as to whether holders should
tender their notes pursuant to the Exchange Offers. Each holder must make its
own decision as to whether to tender its notes and, if so, the principal
amount of the notes to be tendered.

This press release is for informational purposes only and is neither an offer
to buy nor a solicitation of an offer to sell the notes or any other
securities of CEDC.

SOURCE Central European Distribution Corporation

Contact: Thomas Mulligan, Sitrick And Company, +1-212-573-6100,
thomas_mulligan@sitrick.com; or Anna Zaluska, Corporate PR Manager, Central
European Distribution Corporation, +48-22-456-6061
 
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