This is the text of a press release issued by Bermuda-based Bacardi Ltd. today.

Ruben Rodriguez, Chairman of Bacardi Limited, and Sidney Frank, Chairman and Chief Executive Officer of Sidney Frank Importing Co., Inc., announced today that they have entered into a definitive agreement by which Bacardi Limited will acquire Grey Goose vodka. Completion of the sale is expected within the next few months once regulatory approvals are obtained.

This acquisition represents a major development for Bacardi Limited. With Grey Goose, Bacardi has acquired not only a brand with an extremely attractive growth profile and premium positioning, but has fulfilled its long-stated goal of becoming a serious player in the strategically important vodka category.

Upon completion of the sale, Sidney Frank Importing Co., Inc. will continue to import and market in the United States a portfolio of brands led by Jagermeister, the fastest growing imported spirit in the United States.

Commenting on the acquisition, Javier Ferran, President and Chief Executive Officer of Bacardi Limited, said "Grey Goose is a top selling premium vodka brand in the United States; it is a perfect fit with the Bacardi portfolio of premium brands and fills a significant category gap. We see great potential to further build on the extraordinary success that has already been achieved under the excellent guidance of Sidney Frank and his company.

Sidney Frank, Chairman and Chief Executive Officer of Sidney Frank Importing Co., Inc., stated "One cannot avoid having mixed feelings on the sale of such a great brand. However, I cannot think of a better new home for Grey Goose than Bacardi. The people at Bacardi understand brand building, and this will ensure the development of the full potential of Grey Goose."

Sidney Frank Importing Co., Inc. was advised by the investment banking firm Michel Dyens & Co. Cravath, Swaine & Moore LLP was primary legal counsel for Bacardi Limited. Kaye Scholer LLP was primary legal counsel for the Sidney Frank Importing Co., Inc.

Sidney Frank Importing Co., Inc. is the exclusive United States importer of Jagermeister Herbal Liqueur, Gekkeikan Sake and Plum Wine, Corazon de Agave Tequila, Barenjager Honey Liqueur, and Jacques Cardin Brandy.

Bacardi Limited, a privately held company, produces and markets a variety of internationally recognized spirits. The company's brand portfolio consists of more than 250 brands and labels, including some of the world's best known brands: BACARDI rum, MARTINI AND ROSSI vermouth, DEWAR'S scotch whisky, BOMBAY SAPPHIRE gin, and CAZADORES BLUE AGAVE tequila.

Michel Dyens & Co. is an investment banking firm located in New York and Paris. Cravath, Swaine & Moore LLP is a law firm with offices in New York and London. Kaye Scholer LLP is a law firm with offices in the United States and Europe.

Distilled and bottled in Cognac, France, Grey Goose is available in Original, L'Orange, Le Citron and La Vanille.