Asconi Announces Launch of Brandy and Vodka Production.

Business Editors

ORLANDO, Fla.--(BUSINESS WIRE)-June 6, 2002--Asconi Corporation (OTCBB:ASCS) announced today that it has received licenses from the government of Moldova to produce several varieties of brandy and vodka under various brand names, including Stolichnaya, Russian and Extra vodka.

Constantin Jitaru, President of Asconi, stated, "We are pleased to be able to complement our wide product range with additional offerings. We intend to initially offer seven brandy and six vodka varieties, including a brandy under our own brand Asconi.

We have fully lined up our production capacities at our Orhei plant, including the distillery as well as the aging and bottling equipment. We intend to produce the first 100,000 bottles of brandy and 100,000 bottles of vodka during the coming weeks.

We have also successfully entered into preliminary agreements with a number of distributors in both our traditional and new markets. We initially intend to sell our brandy outside of Moldova and our vodka locally.

We are excited about the prospects for sales of these new products, especially brandies, because we will be one of the few exporters of alcohol products from Moldova to offer quality yet value priced brandies to large markets such as the Russian Federation. This is yet another step towards our goal of increasing our product offerings and application of our philosophy of adding value for our customers and shareholders."

About Asconi Corporation:

Asconi is an independent wine producer in Moldova and one of the leaders among Moldovan wine producers and exporters.

Asconi has four main business functions:

-- Purchase of grapes from independent producers, grapes processing and
production of a large variety of wines;

-- Storage and aging of wine;

-- Wine bottling; and

-- International and regional sales of bottled wine.

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.