SOURCE: Central European Distribution Corporation
BOARD OF DIRECTORS AUTHORIZES REPURCHASE PROGRAM FOR CENTRAL
EUROPEAN DISTRIBUTION CORPORATION COMMON STOCK
SARASOTA, Fla., Dec 11 /PRNewswire/ -- Central European Distribution Corporation
(NASDAQ: CEDC) announced today that its Board has authorized the repurchase of
up to 200,000 shares of its common stock.
William Carey, CEO, pointed out that at today's market price, CEDC believes that
its common stock is a great investment. "This program offers us a chance not
only to repurchase some of our stock at what we regard as an extremely
attractive price, but it should enable us to enhance shareholder value.
The timing of the program will be dictated by overall financial and market
conditions.
CEDC is the leading importer of beer, wine and spirits, as well as the largest
distributor of domestic vodka on a nationwide basis in Poland, a four
billion-dollar market at the retail level in 1999. 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, Miller Genuine
Draft, Corona, Beck's Pilsner, Fosters', 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 further information please contact Jeffrey Peterson, Executive Vice-
President, at 941-330-1558 or visit our Web site at http://www.ced-c.com
