Cruzan International, Inc. Announces Receipt of Merger Proposal

Cruzan International, Inc. (AMEX:RUM) (the "Company"),
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, announced today that The Absolut
Spirits Company, Inc., a Delaware corporation ("ASCI"), a wholly-owned
subsidiary of V&S Vin & Sprit AB ("V&S"), has submitted a proposed
Agreement and Plan of Merger pursuant to which a wholly-owned
subsidiary ("Subsidiary") of ASCI would merge with and into the
Company, and each issued share of Company common stock would be
converted into the right to receive $28.37 in cash (the "ASCI
Proposal").
   The proposed conversion price is equal to the proposed per share
cash consideration to be paid to Angostura, Ltd. ("Angostura") by ASCI
in exchange for Angostura's controlling interest in the Company,
pursuant to a previously-announced Stock Purchase Agreement between
Angostura and V&S.
   The ASCI Proposal is conditioned upon, among other things, receipt
of appropriate stockholder and regulatory approvals.
   The Company's board of directors and its Special Committee
consisting solely of independent directors intend to evaluate the ASCI
Proposal in a manner consistent with their fiduciary duties. The
Company cannot assure that the ASCI Proposal will result in a
definitive agreement with ASCI, or that any merger under such a
definitive agreement will be consummated. If the Company's board of
directors determines that the terms of the ASCI Proposal are fair to
Company stockholders, and enters into a definitive agreement with
ASCI, the Company will call a Special Meeting of its stockholders and
file a proxy statement and other relevant documents concerning the
ASCI Proposal with the Securities and Exchange Commission.

   About the Company

   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. The Company 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 the Company'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.