Exhibit 99.1

      Central European Distribution Corporation Announces Completion of
            $8.4 Million Private Placement to Finance Acquisitions

Sarasota, Florida--(PRNewswire)--March 28, 2002--Central European Distribution
Corporation (NASDAQ:CEDC - news) today announced that it has completed a private
placement of 800,000 shares of its common stock at $10.50 per share, for gross
proceeds of $8.4 million. Brean Murray and Co. acted as placement agent in the
transaction.

  William Carey, President and CEO, said: "The participants in this placement
were well-known national and international institutions, some of whom were
current shareholders. We are pleased with the vote of confidence in us that some
of our current, and past, investors have shown by participating in this
offering.  Additionally, we welcome our new shareholders and look forward to a
long-term relationship with them."

  Neil Crook, CFO, added: "With the funds from this placement, we will finance
the acquisitions of Damianex and Agis that we have previously announced and will
use any remaining funds for general corporate purposes.  The two companies to be
acquired had combined net income of $2.5 million in 2001, and we expect the
acquisitions to be accretive to the Company's net income in 2002.  We are
projecting net revenues of between $310-$315 million for 2002 and net earnings
per share of between $1.10-$1.15.  The net earnings per share projection
includes the addition of the shares issued for the private placement and the
completion of the two acquisitions."

  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.  The
Company operates seventeen 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, Corona, Beck's Pilsner, 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 Security and
Exchange Commission Reports.


For more information, please contact:
James Archbold
Director of Investor Relations
(941) 330-1558
www.ced-c.com
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