Remy Cointreau receives consents to amend 6½% notes

New York, June 23 - Rémy Cointreau SA said has received the necessary approvals from owners of its 6½% senior notes due 2010 to waive a provision limiting asset sales.

At a meeting held June 23, a quorum was achieved and a majority of those voting at the meeting backed the change.

As announced on June 6, the company was seeking to waive the asset sale provision, but only for its proposed sale of its 50% stake in Botapol Holding BV. The requested waiver would temporarily lift the requirement in the note covenants that at least 75% of the payment for asset sales be received in cash or cash equivalents.

Rémy Cointreau announced on April 19 that it had agreed to sell its Botapol stake to Central European Distribution Corp. for cash and Central European stock totaling $135 million.

Since the change was passed, the Paris-based maker of distilled spirits will pay €5.00 per €1,000 principal amount to noteholders.

D.F. King & Co., Inc. is information agent (800 431-9642, call collect 212 269-5550 or +44 (0) 20 7920 9700). The solicitation agents are Banc of America Securities LLC (888 292-0070 or 212 847-5834) and Bank of America Securities Ltd. (+44 (0) 20 7174 5318).

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