Exhibit 99.1

        Central European Distribution Corporation Announces $15.6 Million

                        Private Placement of Common Stock

SARASOTA, Florida - April 1, 2003/PRNewswire/ -- Central European Distribution
Corporation (NASDAQ: CEDC) today announced that it has entered into definitive
purchase agreements with respect to the private placement of 670,000 shares of
its common stock for $15.6 million in a private placement to five institutional
investors at a purchase price of $23.25 per share. The net proceeds to the
Company will be approximately $14.6 million. The purchasers also received
Additional Investment Rights to purchase an additional 134,000 shares of common
stock from the Company at a purchase price of $23.25 per share. The net proceeds
will be mainly used for re-payment of debt, funding of current and future
acquisitions, and for general corporate purposes. Banc of America Securities LLC
served as the placement agent for this transaction.

The securities sold in this private placement have not yet been registered under
the Securities Act of 1933, as amended, and may not be offered or sold in the
United States in the absence of an effective registration statement or exemption
from registration requirements. However, as part of the transaction, the Company
agreed to file a registration statement on Form S-3 with the Securities and
Exchange Commission within thirty days for purposes of registering the resale of
all of the common stock issued in the private placement. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state. Any offering of
Central European Distribution Corporation securities under the resale
registration statement will be made only by means of a prospectus.

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 44 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.

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, 2002, and other periodic reports filed with the Securities and
Exchange Commission.

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