Exhibit 99.2

               Central European Distribution Corporation Announces
                          Closing of Private Placement

SARASOTA, Florida - April 3, 2003/PRNewswire/ -- Central European Distribution
Corporation (NASDAQ: CEDC) today announced that it has closed the previously
announced private placement. The Company sold a total of 750,000 shares of
common stock for $17.4 million to five institutional investors at a purchase
price of $23.25 per share for net proceeds of $16.4 million, an increase of
80,000 shares of common stock over the 670,000 shares previously announced. The
purchasers also received Additional Investment Rights to purchase an additional
150,000 shares of common stock from the Company at a purchase price of $23.25
per share. The net proceeds will be mainly used for re-payment of debt, funding
of current and future acquisitions, and for general corporate purposes. Banc of
America Securities LLC served as the placement agent for this transaction.

The Company also announces that in addition to the shares sold by the Company,
Jeffrey Peterson, CEDC's Vice Chairman, sold 80,000 shares for $1.9 million to
the same investors at the same purchase price. The purchasers also received
Additional Investment Rights to purchase an additional 16,000 shares of common
stock from Mr. Peterson at a purchase price of $23.25 per share.

The securities sold in this private placement have not yet been registered under
the Securities Act of 1933, as amended, and may not be offered or sold in the
United States in the absence of an effective registration statement or exemption
from registration requirements. However, as part of the transaction, the Company
agreed to file a registration statement on Form S-3 with the Securities and
Exchange Commission within thirty days for purposes of registering the resale of
all of the common stock issued in the private placement. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state. Any offering of
Central European Distribution Corporation securities under the resale
registration statement will be made only by means of a prospectus.

CEDC is one of the leading importers of beers, wines and spirits, as well as the
largest distributor of domestic vodka on a nationwide basis in Poland. The
Company operates 44 regional distribution centers in major urban areas
throughout Poland. 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, Corona, Beck's, Foster's, Budweiser Budvar and Guinness
Stout beers.

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 the Company 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. The Company 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 associated with forward-looking statements included in
the Company's Form 10-K for the fiscal year ended December 31, 2002, and other
periodic reports filed with the Securities and Exchange Commission.


For more information, please contact:
James Archbold
Director of Investor Relations
(941) 330-1558
www.ced-c.com
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