Distil Regulatory News (DIS)

Blavod Wines and Spirits PLC("Blavod" or the "Company")

19 October 2012

Update re Proposed Placing and Debt Conversion

Further to the announcement of 16 October 2012, Blavod (AIM:BES) announces that the re-admission of the Company's 87,758,508 existing ordinary shares to trading on AIM pursuant to the Capital Reorganisation will take place at 8.00 a.m.

Admission of the 159,999,999 New Ordinary Shares to be issued pursuant to the Placing, and the 58,344,000 New Ordinary Shares to be issued pursuant to the Debt Conversion, is expected to occur on or before 26 October 2012.

A further announcement in respect of the revised Admission date, date of crediting of CREST accounts and the date of the dispatch of definitive share certificates, where applicable, will be made in due course.

Other than where stated, capitalised terms used in this notice shall have the same meaning as ascribed to them in the circular to Shareholders dated 28 September 2012.

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About Blavod

Blavod Wines & Spirits plc is quoted on the AIM market of the London Stock Exchange. It owns drinks brands in a number of sectors of the alcoholic drinks market. These include premium Vodka, premium Gin and Rum and are called Blavod Original Black Vodka, Blackwood's Vintage Gin & Nordic Vodka, Diva Vodka, Jago's Cream liqueur and RedLeg.

The Group markets and sells these brands in the UK as well as a number of international markets including the US and Russia and has recently announced an agreement with Waldemar Behn GmbH for them to produce, market and distribute Blavod black vodka in Germany under a licensing agreement to their domestic and Duty-Free/Travel Retail markets as well as continental and Eastern Europe.

Through a wholly owned subsidiary, Blavod Drinks Ltd, the Company represents a portfolio of premium quality wine, spirit and liqueur brands in the UK.

www.blavoddrinks.com