Central European Distribution Corporation Commences Consent Solicitation

Central European Distribution Corporation

today announced that it is soliciting consents (the "Consent Solicitation") from holders of the $380,000,000 principal amount of 9.125% Senior Secured Notes due 2016 (the "9.125% Notes") and €430,000,000 principal amount of 8.875% Senior Secured Notes due 2016 (the "8.875% Notes" and, together with the 9.125% Notes, the "Notes") issued by CEDC Finance Corporation International, Inc. and guaranteed by CEDC to obtain a limited waiver with respect to the reporting covenants contained in the indenture for the Notes (the "Indenture"). CEDC currently anticipates that it may not be able to timely file its Quarterly Report on Form 10-Q for the financial quarter ended June 30, 2012 (the "2nd Quarter Form 10-Q") with the United States Securities and Exchange Commission (the "SEC"). Accordingly, the Consent Solicitation is being made to obtain a waiver (the "Waiver") up to and including November 12, 2012, of any and all Defaults and Events of Default, and the consequences thereof, that may have occurred or may occur under Section 4.14 (Reports) of the Indenture including any Default that would result if CEDC fails to file its 2nd Quarter Form 10-Q. CEDC is offering to pay a consent fee of $2.50 in cash for each $1,000 in principal amount of its 9.125% Notes for which it has received and accepted consents and €2.50 in cash for each €1,000 in principal amount of its 8.875% Notes for which it has received and accepted consents. The consent fee will only be payable in the event that CEDC fails to file with the SEC the 2nd Quarter Form 10-Q by August 14, 2012.