Central European Distribution Corp.

ROBBINS GELLER RUDMAN & DOWD LLP FILES CLASS
ACTION SUIT AGAINST CENTRAL EUROPEAN DISTRIBUTION CORP.

New York – October 24, 2011 – Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) (http://www.rgrdlaw.com/cases/cedc/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the District of New Jersey on behalf of purchasers of the common stock of Central European Distribution Corp. (“CEDC” or the “Company”) (Nasdaq: CEDC) between August 5, 2010 and February 28, 2011, inclusive (the “Class Period”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com.  If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/cedc/.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges CEDC and certain of its officers and directors with violations of  the Securities Exchange Act of 1934.  CEDC operates primarily in the alcohol beverage industry as one of the largest producers of vodka in the world and Central and Eastern Europe’s largest integrated spirit beverages business.

The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects.  Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that CEDC had double digit declines in its vodka portfolio and its loss of market share in Poland was growing steeper as discounters were taking shares; (ii) that the seriousness in the market share declines required that CEDC take an impairment charge which CEDC did not record on a timely basis; (iii) that the launch of the Company’s new vodka product, Zubrowka Biala, with significant market spending in the form of rebates, was having a materially adverse effect on gross margin and impacted the channel mix in the market; and (iv) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company, its prospects and growth.

On March 1, 2011, the Company issued a press release announcing its results for the full year 2010, surprising the market and reporting a net loss from continuing operations on a U.S. Generally Accepted Accounting Principles  basis for the year of $92.9 million, or $1.32 per fully diluted share, as compared to a net profit of $72.7 million, or $1.35 per fully diluted share, for the same period in 2009.  Following the full year earnings announcement, defendants held a conference call with analysts and investors, wherein defendants disclosed for the first time an excise tax issue in production in Russia, where they had a dispute with authorities on an old excise stamp count, which resulted in the loss of two weeks of limited production runs, with one week having nothing produced in the middle of November, their “key selling period.”  In response to the unexpected earnings announcement, shares of the Company’s stock fell $8.52, or more than 37%, to close at $14.33 per share, on extremely heavy trading volume.

Plaintiff seeks to recover damages on behalf of all purchasers of CEDC common stock during the Class Period (the “Class”).  The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations.  The Robbins Geller Web site (http://www.rgrdlaw.com) has more information about the firm.

Contact:

            Robbins Geller Rudman & Dowd LLP

            Samuel H. Rudman, 800-449-4900

            David A. Rosenfeld

            djr@rgrdlaw.com