18 November 2003 20:09
Asconi Receives Grand Prix of the Russian National Association of Alcoholic Beverages
ORLANDO, Fla., Nov. 18 /PRNewswire-FirstCall/ -- Asconi Corporation , one of the largest Eastern European producers
of wines and spirits, today announced that it has received the 2003 Grand Prix for Quality from the National Association
of Alcoholic Beverages of the Russian Federation.
The Grand Prix was awarded to 1984 Old Orhei Madera fortified wine at the annual product quality contest conducted by
the Association. 1984 Old Orhei Madera is produced by Orhei Vin S.A., a subsidiary of Asconi Corporation, and represents
one of the brands owned and marketed by Asconi. The selection of winners was performed based on the careful analysis of
quality control systems from production stages to the wholesale and retail chains in all regions of the Russian
Federation.
The Russian Alcoholic Beverage Association is the largest assembly in the Russian Federation, which combines
producers, importers, wholesalers and retailers of alcoholic beverages in the country. For more information, please
visit http://www.naacnt.ru/ .
Constantin Jitaru, President and CEO of Asconi stated, "We are very pleased to receive this prestigious award
for wine quality from the most recognized alcoholic beverage organization in the Russian Federation. The award is
another culmination of our striving for the highest quality for Asconi wine products. Asconi wines have consistently
been receiving awards at various regional and international wine fairs, trade shows and professional tasting. Within the
last five years only, our awards collection enjoyed the addition of two grand prix awards, 35 gold, 27 silver and seven
bronze medals including the bronze medal received at the Chardonnay Du Monde contest in France for 2001 Chardonnay from
Vitis Hincesti."
About Asconi Corporation
Asconi Corporation is one of the largest producers and distributors of wines and spirits in Eastern Europe. Asconi
currently markets its products in seventeen countries worldwide and offers an extensive portfolio of over 350 items in
fifty product lines. The Company is involved in every aspect of wine and spirits production and distribution, from grape
processing to sales of alcoholic beverages. Asconi has four core business functions: * International and regional
distribution of bottled wines and spirits; * Grape processing and production of a large variety of wines; * Processing,
storage and aging of wine;
* Production of wheat alcohol and spirits, including vodka and brandy. Asconi has consistently achieved
year-over-year revenue growth: with 2002 revenues of approximately $14 million, income from operations of $1.78 million
and net income of approximately $1 million. Asconi is the leader in wine-making and wine exportation in Moldova.
For the first nine months of 2003, as compared to the same period of 2002, the Company's revenues increased by
over 22% to approximately $10.71 million, income from operations increased by 129.22% to $2.31 million and net income
increased by 303.26% to $2.05 million. For more information, please visit http://www.asconi.com/ . Safe Harbor
Statement
Under the Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the
company's expectations with regard to the future impact on the company's results from new products in
development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
The results anticipated by any or all of these forward-looking statements may not occur. Asconi Corporation
CONTACT: Serguei Melnik, Chief Operations Officer of Asconi Corporation, +1-407-679-9463, or email,
info@asconi.com
Web site: http://www.asconi.com/ http://www.naacnt.ru/
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