CEDC Board of Directors appoints Ryan Lee as CFO

MT. LAUREL, N.J., Jan. 22, 2013 /PRNewswire/ -- Central European Distribution Corporation (NASDAQ: CEDC) announced today that it had appointed Mr. Ryan Lee as Chief Financial Officer (CFO).

Mr. Lee, who had served as CFO of Russian Alcohol Group, a CEDC subsidiary, since April 2012, brings over 23 years of financial management experience in both retail and tobacco. He has worked for 13 years in Russia, five years in Switzerland, and two years in each of the UK and the Netherlands. From November 2008 to March 2012, Mr. Lee worked for Eldorado as Vice President Finance, leading the successful turnaround of one of Russia's largest electronic retailers. From 1999-2008, Mr. Lee worked for Japan Tobacco International, Geneva as Vice President Finance, Business Service Centres & Integration, among other senior roles, including as CFO, Vice President Finance and Financial Controller for Russia.  From 1989-1999, Mr. Lee held accounting, finance and commercial positions at Unilever PLC and its group subsidiaries. 

CEDC also announced that Bartosz Kołacinski agreed to resume his position as Deputy CFO of CEDC.  Mr. Kołacinski had been serving as Interim CFO of CEDC since September 2012.

About CEDC
CEDC is one of the largest producers of vodka in the world and Central and Eastern Europe's largest integrated spirit beverage business. CEDC produces the Green Mark, Absolwent, Zubrowka, Bols, Parliament, Zhuravli, Royal and Soplica brands, among others. CEDC currently exports its products to many markets around the world, including the United States, England, France and Japan.

CEDC also is a leading importer of alcoholic beverages in Poland, Russia and Hungary. In Poland, CEDC imports many of the world's leading brands, including Carlo Rossi Wines, Concha y Toro wines, Metaxa Liqueur, Remy Martin Cognac, Sutter Home wines, Grant's Whisky, Jagermeister, E&J Gallo, Jim Beam Bourbon, Sierra Tequila, Teacher's Whisky, Campari, Cinzano and Old Smuggler. CEDC is also a leading importer of premium spirits and wines in Russia with such brands as Concha y Toro, among others.

Cautionary Statements about Forward Looking
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the expected effects of CEDC management changes announced. Forward looking statements are based on our knowledge of facts as of the date hereof and 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 our 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 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, 2011, including statements made under the caption "Item 1A. Risks Relating to Our Business," and in other documents filed by CEDC with the United States Securities and Exchange Commission.

Contact details:

CEDC
Anna Załuska
+48 22 456 6061

SOURCE Central European Distribution Corporation