News, Articles and Releases

Asconi Announces Preliminary Case Sales for the Second Quarter of 2004;
Case Sales Increase 46.5% From the Second Quarter of 2003

MONDAY JULY 12, 9:29 AM ET

ORLANDO, Fla., July 12 /PRNewswire-FirstCall/ -- Asconi Corporation (Amex: ACD), an Eastern European producer of wines and spirits, today announced that it sold approximately 454,000 equivalent cases(a) of wines during the three months ended June 30, 2004, an increase of 144,000 cases, or 46.5%, from approximately 310,000 cases sold during the three months ended June 30, 2003. Case sales for the six months ended June 30, 2004 increased by approximately 310,000 cases, or 51.7%, to approximately 910,000 cases from 600,000 cases sold during the six months ended June 30, 2003.

(a) Asconi packages its wine in containers of various sizes. All quantities have been recomputed to the "equivalent case" measure. An equivalent case contains 12 bottles of 750 ml each.

Asconi Corporation (Amex: ACD) is a producer and distributor of wines and spirits in Eastern Europe. For more information, please visit http://www.asconi.com.

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports of documents the Company files periodically with the SEC.

Contact: Mr. Serguei Melnik,
Asconi Corporation Chief Operations Officer
Phone: 407 679-9463
Email: info@asconi.com

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