Cruzan International, Inc. Announces Financial Results for Third Quarter and Nine Months Ended June 30, 2005

Cruzan International, Inc. (AMEX:RUM), producer and
distributor of the Cruzan line of rums from the Virgin Islands and a
leading distiller of rum and brandy, and importer and marketer of
premium branded spirits, today reported financial results for its
third quarter and nine months ended June 30, 2005.
   Net sales for fiscal 2005's third quarter were $27,792,244,
compared with $25,485,359 reported for fiscal 2004's third quarter.
Gross profit was $8,958,394, compared to $7,965,878 in the same period
last year, and third quarter net loss was $256,368, or $0.04 per
diluted share, compared with a net loss of $224,506 or $0.04 per
diluted share, one year ago.
   Net sales for fiscal 2005's nine-month period were $77,496,071,
compared with $69,966,854 reported for fiscal 2004's nine-month
period. Gross profit was $25,889,011, compared to $23,871,871 in the
same period last year, and nine-month net loss was $178,062, or $0.03
per diluted share, compared with net income of $1,745,308 or $0.30 per
diluted share, one year ago.
   Commenting on the results, Jay S. Maltby, Chairman and Chief
Executive Officer said, "Our strong top-line sales and gross profit
growth during the past nine months was primarily due to our focus on
our growing premium brands business. Once again, I am pleased to
announce that sales of our award winning Cruzan Rums continue their
strong growth, with net sales increasing 32.7% and 30.6% over last
year's third quarter and nine-month period, respectively. Although
operating income has declined in the nine-month period due to our
continuing investment in building the Cruzan Rum brand, we saw
operating income improve in the third quarter."
   Mr. Maltby continued, "Sales in our bulk alcohol and vinegar and
cooking wine segments have also improved, although we are still
experiencing pressure on margins as we continue to realize increased
energy and raw material costs and resistance to price increases from
customers in these business segments. Sales in our bottling operations
segment appear to have stabilized, and this, coupled with the full
implementation of our bottling rationalization plan makes us believe
that we will see improvement in operating income of our bottling
operations in future quarters."
   Cruzan International, Inc. is a major supplier of rum, brandy and
wine to the beverage alcohol industry. The Company also produces
ultra-premium single-barrel aged rums and tropical rums, vinegar and
other alcohol-related products.
   Statements contained in this press release, other than historical
facts, are "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
and Exchange Act of 1934. Cruzan intends that such forward-looking
statements shall be subject to the safe harbors created thereby. These
statements involve various risks and uncertainties, including without
limitation those contained in the section entitled "Risks that May
Affect Future Results" in Item 7, "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in Cruzan's
Annual Report on Form 10-K for the fiscal year ended September 30,
2004. As a result, future results may differ materially from the
expected results represented by the forward looking-statements
contained in this press release.
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CRUZAN INTERNATIONAL, INC.
Statements of Income                                    Statement of
                                                            Income
                                                          as a % of
                                    Three Months          Net Sales
                              ------------------------- -------------
Periods ended
June 30,                         2005         2004       2005   2004
                              ------------ ------------ ------ ------

Net sales                     $27,792,244  $25,485,359  100.0% 100.0%
Cost of sales                  18,833,850   17,519,481   67.8%  68.7%
                              ------------ ------------ ------ ------

Gross profit                    8,958,394    7,965,878   32.2%  31.3%
Selling, general and
  administrative                9,879,545    9,479,264   35.5%  37.2%
                              ------------ ------------ ------ ------

Operating income (loss)          (921,151)  (1,513,386)  -3.3%  -5.9%
Interest expense                 (645,876)    (551,933)  -2.3%  -2.2%
Other income, net                 274,122      260,644    1.0%   1.0%
                              ------------ ------------ ------ ------

(Loss) before income taxes     (1,292,905)  (1,804,675)  -4.7%  -7.1%
Income tax benefit              1,036,538    1,580,169    3.7%   6.2%
                              ------------ ------------ ------ ------

Net loss                        ($256,368)   ($224,506)  -0.9%  -0.9%
                              ============ ============ ====== ======

Loss per common share:
  Basic                            ($0.04)      ($0.04)
                              ============ ============
  Diluted                          ($0.04)      ($0.04)
                              ============ ============

Common shares and equivalents
 outstanding
  Basic                         6,378,948    5,647,782
                              ============ ============
  Diluted                       6,740,718    5,791,734
                              ============ ============
Shares outstanding at
  end of period                 6,747,306    6,338,519
                              ============ ============
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CRUZAN INTERNATIONAL, INC.
Statements of Income                                    Statement of
                                                            Income
                                                          as a % of
                                      Nine Months         Net Sales
                                ----------------------- -------------
Periods ended
June 30,                           2005        2004      2005   2004
                                ----------- ----------- ------ ------

Net sales                      77,496,071   69,966,854  100.0% 100.0%
Cost of sales                  51,607,060   46,094,983   66.6%  65.9%
                               -----------  ----------  ------ ------

Gross profit                   25,889,011   23,871,871   33.4%  34.1%
Selling, general and
  administrative               27,038,436   23,109,709   34.9%  33.0%
                               -----------  ----------  ------ ------

Operating income (loss)        (1,149,425)     762,162   -1.5%   1.1%
Interest expense               (2,010,217)  (1,958,351)  -2.6%  -2.8%
Other income, net                 688,711    1,264,069    0.9%   1.8%
                               -----------  ----------- ------ ------

Income (loss) before income
 taxes                         (2,470,931)      67,880   -3.2%   0.1%
Income tax benefit              2,292,870    1,677,428    3.0%   2.4%
                               -----------  ----------  ------ ------

Net income (loss)                (178,062)   1,745,308   -0.2%   2.5%
                               ===========  ==========  ====== ======

Earnings (loss) per common share:
  Basic                             (0.03)        0.31
                               ===========  ==========
  Diluted                           (0.03)        0.30
                               ===========  ==========

Common shares and equivalents
 outstanding
  Basic                         6,351,995    5,620,427
  Diluted                       6,543,898    5,737,336

Shares outstanding at
  end of period                 6,747,306    6,338,519
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CRUZAN INTERNATIONAL, INC.
Condensed Consolidated Balance Sheets                 Balance Sheet
                                                       as a % of
                                                       Total Assets
                                                     ---------------
                             June 30,    Sept. 30,  June 30, Sept. 30,
                               2005        2004       2005     2004
                           ------------  ----------- ------- -------

        ASSETS
CURRENT ASSETS
  Cash and short-term
   investments               $2,188,343   $3,833,828    1.7%   3.0%
  Receivables                25,012,866   20,418,736   19.0%  16.0%
  Inventories                31,905,359   29,162,496   24.2%  22.8%
  Other current assets        5,152,732    7,736,190    3.9%   6.1%
                           ------------  -----------  ------ ------
    Total current
     assets                  64,259,300   61,151,250   48.8%  47.8%
                           ------------  -----------  ------ ------

PROPERTY AND EQUIPMENT, net  38,754,727   39,949,850   29.4%  31.3%
OTHER ASSETS                 28,625,774   26,731,526   21.7%  20.9%
                           ------------  -----------  ------ ------
    Total assets           $131,639,801 $127,832,626  100.0% 100.0%
                           ============  ===========  ====== ======

  LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
  Current maturities of
   long-term debt           $27,100,000   $4,000,000   20.6%   3.1%
  Accounts payable           14,212,839   11,868,947   10.8%   9.3%
  Other accrued
   expenses                   3,835,292    4,726,253    2.9%   3.7%
                           ------------   ----------  ------ ------
    Total current
     liabilities             45,148,131   20,595,200   34.3%  16.1%
                           ------------  -----------  ------ ------

LONG-TERM DEBT, less
 current maturities              21,774   25,674,240    0.0%  20.1%

DEFERRED INCOME TAXES                 -      648,000       -   0.5%

OTHER LIABILITIES             1,285,598    1,091,248    1.0%   0.9%

STOCKHOLDERS' EQUITY         85,184,298   79,823,938   64.7%  62.4%
                           ------------  ----------  ------ ------
    Total liabilities
     and stockholders'
     equity                $131,639,801 $127,832,626  100.0% 100.0%
                           ============  ===========  ====== ======
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