Exhibit 99.1

Central European Distribution Corporation Announces Third Quarter 2007 Results; Raises 2007 Full Year

Guidance

Bala Cynwyd, Pennsylvania October 30, 2007: Central European Distribution Corporation (NASDAQ: CEDC) today announced its results for fiscal third quarter 2007. Net sales for the third quarter 2007 increased 28% to $299.6 million from $233.9 million reported for the same period in 2006. Comparable net income increased by 56% to $18.3 million from $11.7 million for the same period in 2006.

On a comparable basis, CEDC announced net income of $ 18.3 million, or $0.45 per fully diluted share for the third quarter 2007, as compared to $11.7 million or $0.33 per fully diluted share for the same period in 2006. On a U.S. GAAP basis (as hereinafter defined), CEDC announced net income of $17.0 million or $0.42 per fully diluted share for the third quarter of 2007, as compared to net income of $15.4 million, or $0.43 per fully diluted share, for the same period in 2006. The major differences between the U.S. GAAP net income and comparable non-GAAP net income reflects unrealized foreign exchange movements relating to our Senior Secured Notes and other charges which are non recurring or not reflective of the ongoing performance of our business operations. For a reconciliation of comparable non-GAAP net income to the net income reported under United States Generally Accepted Accounting Principles (“GAAP”), please see the section “Unaudited Reconciliation of Non-GAAP Measures” below. The weighted average number of shares used for calculating diluted earnings per share for third quarter 2007 was 40.8 million compared to 36.0 million for the third quarter 2006.

Some of the Company’s key financial highlights for the third quarter 2007 compared to the same quarter last year include the following:

• Net sales up 28%

• Organic sales growth of 22%

• Operating income up 18%

• Comparable net income up 56%

• Exclusive import portfolio growth of 49%

Mr. William Carey, CEO and President, said, “The strong growth of our branded portfolio coupled with the market share gains made in our distribution business has delivered another quarter of strong performance from top to bottom line. The 49% growth in our import portfolio continues to highlight the consumer premiumization that is going in the marketplace.”

Mr. Carey continued, “With our recent signing of new distribution agreements in Poland, we are continuing to see accelerated growth in our distribution business. As a result of this accelerated growth, we are raising our full year 2007 net sales guidance from $1.13 - $1.18 billion to $1.17 - $1.20 billion, and our full year 2007 comparable fully diluted earnings per share guidance from $1.57 - $1.73 to $1.65 - $1.79.”

The fully diluted earnings per share guidance above is presented on a comparable basis, similar to the non-GAAP comparable earnings as reported for the quarter. The major differences between the U.S. GAAP net income guidance and comparable non-GAAP net income guidance reflects unrealized foreign exchange movements relating to our Senior Secured Notes and other non recurring charges. For a reconciliation of comparable non-GAAP net income to the net income reported under United States Generally Accepted Accounting Principles (“GAAP”), please see the section “Unaudited Reconciliation of Non-GAAP Measures” below.

CEDC has reported net income and fully diluted net income per share information in accordance with GAAP and on a non-GAAP basis, referred to in this release as comparable non-GAAP net income. CEDC’s management believes that the non-GAAP reporting giving effect to the adjustments shown in the attached reconciliation provides meaningful information and an alternative presentation useful to investors’ understanding of CEDC’s core operating results and trends. CEDC discusses results and guidance on a comparable basis in order to give investors better insight into underlying business trends from continuing operations. CEDC’s calculation of these measures may not be the same as similarly named measures presented by other companies. These measures are not presented as an alternative to net income computed in accordance with GAAP as a performance measure, and you should not place undue reliance on such measures. A reconciliation of GAAP to non-GAAP measures can be found in the section “Unaudited Reconciliation of Non-GAAP Measures” at the end of this press release.

CEDC is the largest vodka producer in Poland by value and produces the Absolwent, Zubrowka, Bols and Soplica brands, among others. CEDC currently exports Zubrowka to European and Asian markets.

CEDC also is the leading distributor by volume and a leading importer by value of alcoholic beverages in Poland. CEDC operates 16 distribution centers and 76 satellite branches throughout Poland. CEDC imports many of the world’s leading brands to Poland, including brands such as Rémy Martin, Metaxa, Jim Beam, Sauza Tequila, Grant’s, E&J Gallo, Sutter Home, Torres, Penfolds and Concha y Toro wines, Corona, Foster’s, and Guinness Stout beers and Evian.

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 CEDC 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. CEDC 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 included in CEDC’s Form 10-K for the fiscal year ended December 31, 2006, and in other documents filed by CEDC with the Securities and Exchange Commission.

Contact:

Jim Archbold,

Investor Relations Officer

Central European Distribution Corporation

610-660-7817

CENTRAL EUROPEAN DISTRIBUTION CORPORATION

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED)

(Amount in columns expressed in thousands)

	September 30, 2007			December 31, 2006
ASSETS
Current Assets
Cash and cash equivalents	$	97,362		$	159,362
Accounts receivable, net of allowance for doubtful accounts of $27,300 and $24,354 respectively		196,962			224,575
Inventories		111,528			89,522
Prepaid expenses and other current assets		14,476			24,299
Deferred income taxes		2,060			5,336
Total Current Assets		422,388			503,094
Intangible assets, net		500,850			371,624
Goodwill, net		444,299			398,005
Property, plant and equipment, net		71,590			49,801
Deferred income taxes		16,636			3,305
Other assets		744			204
Total Assets	$	1,456,507		$	1,326,033
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Trade accounts payable	$	118,225		$	138,585
Bank loans and overdraft facilities		35,182			24,656
Income taxes payable		4,334			2,975
Taxes other than income taxes		76,171			94,985
Other accrued liabilities		61,375			57,620
Current portions of obligations under capital leases		1,699			2,005
Total Current Liabilities		296,986			320,826
Long-term debt, less current maturities		112,784			8
Long-term obligations under capital leases		2,239			1,122
Long-term obligations under Senior Secured Notes		333,879			393,434
Deferred income taxes		91,833			68,275
Total Long Term Liabilities		540,735			462,839
Minority interests		473			21,395
Stockholders’ Equity
Common Stock ($0.01 par value, 80,000,000 shares authorized, 40,403,771 and 38,691,635 shares issued at September 30, 2007 and December 31, 2006, respectively)		404			387
Additional paid-in-capital		426,257			374,985
Retained earnings		159,899			128,084
Accumulated other comprehensive income		31,903			17,667
Less Treasury Stock at cost (246,037 shares at September 30, 2007 and December 31, 2006)		(150	)		(150	)
Total Stockholders’ Equity		618,313			520,973
Total Liabilities and Stockholders’ Equity	$	1,456,507		$	1,326,033

CENTRAL EUROPEAN DISTRIBUTION CORPORATION

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (UNAUDITED)

(Amount in columns expressed in thousands, except share and per share information)

	Three months ended						Nine months ended
	September 30, 2007			September 30, 2006			September 30, 2007			September 30, 2006
PROFIT AND LOSS
Sales	$	368,910		$	298,566		$	992,056		$	818,075
Excise taxes		(69,311	)		(64,664	)		(195,607	)		(172,027	)
Net Sales		299,599			233,902			796,449			646,048
Cost of goods sold		237,892			183,198			632,870			512,104
Gross Profit		61,707			50,704			163,579			133,944
Operating expenses		33,297			26,662			91,104			73,299
Operating Income		28,410			24,042			72,475			60,645
Non operating income / (expense), net
Interest (expense), net		(9,337	)		(7,931	)		(26,291	)		(23,846	)
Other financial income / (expense), net		(1,110	)		5,856			(6,672	)		(1,734	)
Other non operating income / (expense), net		1,006			(139	)		(1,008	)		1,337
Income before taxes		18,969			21,828			38,504			36,402
Income tax expense		1,943			3,929			5,628			6,350
Minority interests		6			2,461			1,061			6,690
Net income	$	17,020		$	15,438		$	31,815		$	23,362
Net income per share of common stock, basic	$	0.42		$	0.43		$	0.80		$	0.66
Net income per share of common stock, diluted	$	0.42		$	0.43		$	0.79		$	0.65

CENTRAL EUROPEAN DISTRIBUTION CORPORATION

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOW (UNAUDITED)

(Amount in columns expressed in thousands)

	Nine months ended September 30,
	2007			2006
CASH FLOW
Operating Activities
Net income	$	31,815		$	23,362
Adjustments to reconcile net income to net cash provided by / (used in) operating activities:
Depreciation and amortization		7,292			6,858
Deferred income taxes		(9,355	)		(2,254	)
Bad debt provision		239			752
Minority interests		1,061			6,690
Hedge valuation		—			(11,772	)
Unrealized foreign exchange (gains) / losses		(4,414	)		13,508
Cost of debt extinguishment		11,869			—
Stock options expense		1,424			959
Other non cash items		1,051			—
Changes in operating assets and liabilities:
Accounts receivable		46,427			57,388
Inventories		(6,213	)		8,924
Prepayments and other current assets		6,297			2,632
Trade accounts payable		(35,667	)		(33,304	)
Other accrued liabilities and payables		(21,508	)		(18,505	)
Net Cash provided by Operating Activities		30,318			55,238
Investing Activities
Investment in fixed assets		(22,342	)		(6,978	)
Proceeds from the disposal of fixed assets		2,647			909
Investment in trademarks		—			(1,210	)
Refundable purchase price related to Botapol acquisition		5,000			—
Acquisitions of subsidiaries, net of cash acquired		(141,000	)		(22,403	)
Net Cash used in Investing Activities		(155,695	)		(29,682	)
Financing Activities
Borrowings on bank loans and overdraft facility		132,524			16,647
Payment of bank loans and overdraft facility		(25,207	)		(19,505	)
Payment of long-term borrowings		(7	)		—
Payment of Senior Secured Notes		(95,440	)		—
Hedge closure		—			(4,677	)
Movements in capital leases payable		329			(1,865	)
Issuance of shares in public placement		42,355			—
Proceeds from sales of financial assets, net		—			1,891
Options exercised		1,117			801
Net Cash provided by Financing Activities		55,671			(6,708	)
Currency effect on brought forward cash balances		7,706			4,384
Net Increase / (Decrease) in Cash		(62,000	)		23,232
Cash and cash equivalents at beginning of period		159,362			60,745
Cash and cash equivalents at end of period	$	97,362		$	83,977

CENTRAL EUROPEAN DISTRIBUTION CORPORATION

UNAUDITED RECONCILIATION OF NON-GAAP MEASURES

(in thousands, except share and per share information)

	Three Months Ended Sep 30,					Nine Months Ended Sep 30,
	2007		2006			2007			2006
GAAP net income/(loss)	$	17,020	$	15,438		$	31,815		$	23,362
Foreign exchange impact and hedge revaluation		896		(4,368	)		(4,151	)		1,780	(A)
Other acquisition related costs		—		—			1,045			—	(B)
Cost associated with early retirement of debt		—		—			9,609			—	(C)
Impact of expensing stock options		388		374			1,140			778	(D)
Other non recurring costs		—		298			307			374	(E)
Comparable non-GAAP net income	$	18,304	$	11,742		$	39,765		$	26,294
Comparable net income per share of common stock, basic	$	0.46	$	0.33		$	1.00		$	0.74
Comparable net income per share of common stock, diluted	$	0.45	$	0.33		$	0.98		$	0.73

Full Year Guidance, 12 Months Ending December 31,	2007
Range for GAAP Fully Diluted Earnings per Share	$	1.44 - $1.58
Foreign exchange impact and hedge revaluation		(0.10	)(A)
Other acquisition related costs		0.03	(B)
Cost associated with early retirement of debt		0.23	(C)
Impact of expensing stock options		0.04	(D)
Other non recurring costs		0.01	(E)
Range for Comparable non-GAAP Fully Diluted Earnings per Share	$	1.65 - $1.79

Comparable measures are provided as additional information as management believes this information provides investors with better insight on underlying business trends and results in order to evaluate ongoing financial performance. Descriptions of these items are presented below:

A. Represents the net after tax impact of the foreign currency revaluation related to our Senior Secured Notes and mark to market revaluation of financing related hedges as of September 30, 2007. The impact of foreign exchange revaluation will change, which may have a material effect on our financial results.

B. Represents other miscellaneous costs incurred in 2007, directly related to the tender for additional shares of Polmos Bialystok and other acquisitions.

C. Represents the net after tax impact associated with the early retirement of 20% of CEDC’s outstanding Senior Secured Notes, including an 8% one-time redemption premium payment to the Noteholders and write-off of prepaid financing costs.

D. On January 1, 2006 CEDC adopted SFAS 123(R) and began to expense stock options. This amount represents the net after tax impact of the expensing of stock options.

E. Represents one time charge for early retirement incentive program in 2007 and cost incurred with the potential acquisition of Polmos Lublin which was not completed in 2006