Cott CEO Outlines Plans to Refocus on Retailer Brands, Identifies Cost Reductions, and Announces Changes to Board of

TORONTO, CANADA, Jun 19 (MARKET WIRE) --
Cott Corporation (NYSE: COT)(TSX: BCB), the world's largest retailer
brand soft drink provider, today announced its plans to refocus the
Company on private label beverages.

In recognition of the significant challenges recently experienced by the
Company, David Gibbons, Cott's interim CEO, working with Cott's senior
management team and the Board of Directors, is refocusing Cott on its
private label business and has already begun to take actions to improve
profitability.

These actions are the results of an intensive sixty-day evaluation of all
aspects of Cott's business, undertaken by Gibbons upon his appointment as
interim CEO. The actions will include combining some executive positions,
which will result in the departure of the President of the North American
business unit and the Chief People Officer. Their responsibilities will
be reassigned among senior management. The Company is also eliminating
positions throughout the organization, including not filling certain
executive vacancies. The Company estimates that total severance costs
will be approximately $6-$8 million. Overall, Cott is targeting
annualized SG&A cost reductions of over 10 percent or $20-$22 million.
The total annual savings, including headcount reductions and
manufacturing and supply chain optimization, is anticipated to be between
$39-$43 million. In the second half of 2008, Cott expects to realize over
$10 million of these savings.

Gibbons believes that over the last 18 months, Cott had diverted too much
energy and resources away from its core retailer customers and toward
branded initiatives. Gibbons confirms: "We will change course." He
continues, saying; "Through these efforts we will continue to reposition
Cott to play a greater role as a champion of private label."

Cott recognizes that within the U.S., its best growth opportunities
reside within its core capabilities in private label beverages. The
Company believes that there are opportunities for further growth within
its current customer base by carefully following consumer trends in new
flavors, categories, package types, and product mix by geography.

"Our role is not to invent new categories," says Gibbons. "Our role is to
be 'fast followers' to leverage the growth of expanding categories and to
improve profitability for our retail partners at lower prices to
consumers."

The Company has already refocused its marketing efforts on the needs and
requests of its retailer partners. "This will be our focus," Gibbons
continues. "Our existing retail partners will drive our new product
development."

Finally, Cott also announced that, following discussions with Crescendo
Partners and in consultation with other significant shareowners, an
agreement with Crescendo Partners has been reached. Under the agreement,
the Cott Board of Directors will be expanded in size from 10 to 11
directors. Four new directors, Eric Rosenfeld, Greg Monahan, Mark
Benadiba and Mario Pilozzi, will join the Board, and Eric Rosenfeld will
become Lead Independent Director. Frank Weise, Don Watt, and Serge Gouin
have graciously offered to resign from the Board to facilitate the Board
changes. Under the terms of the agreement David Gibbons will be appointed
Chairman of the Board of Directors. The CEO Search Committee will be
reconstituted to consist of four directors: George Burnett, David
Gibbons, Eric Rosenfeld and Mario Pilozzi. The committee will assist the
Board in evaluating and identifying potential candidates for the Chief
Executive Officer position. Neither Cott nor Crescendo have agreed to any
standstill arrangements.

Speaking on behalf of the new directors, Eric Rosenfeld, President and
CEO of Crescendo Partners, stated, "We are happy to have reached an
amicable resolution, which we believe is in the best interest of all
shareowners. We look forward to working diligently and constructively
with the other members of the Board to increase shareholder value."

Gibbons stated "We are pleased to have the agreement in place and look
forward to working with our new colleagues. The Board and I would like to
offer our sincere thanks to Frank, Serge, and Don for their long years of
service and their significant contributions over those years to Cott.
Their willingness to make this agreement possible comes at an important
time in Cott's history."

About Cott Corporation

Cott Corporation is one of the world's largest non-alcoholic beverage
companies and the world's largest retailer brand soft drink company. The
Company commercializes its business in over 60 countries worldwide, with
its principal markets being the United States, Canada, the United Kingdom
and Mexico. Cott markets or supplies over 200 retailer and licensed
brands, and Company-owned brands including Cott, RC, Vintage, Vess and So
Clear. Its products include carbonated soft drinks, sparkling and
flavored waters, energy drinks, sports drinks, juices, juice drinks and
smoothies, ready-to-drink teas, and other non-carbonated beverages. The
Company's website is www.cott.com. The brand names and trademarks
referenced in this press release are trademarks of Cott Corporation, its
affiliated companies, customers, or other third parties.

Safe Harbor Statements

This press release contains or refers to forward-looking statements
reflecting management's current expectations regarding future results of
operations, economic performance, financial condition and achievements of
the Company. The forward-looking statements are based on the assumption
that volume and revenue will be consistent with historical trends, that
margins will improve through a balance of revenue realization and cost
containment, and that interest rates will remain constant and debt levels
will decline, and, in the case of the statements relating to new product
introductions, capacity increases, cost reduction plans, and operational
strategies, on management's current plans and estimates. Management
believes these assumptions to be reasonable but there is no assurance
that they will prove to be accurate. Forward-looking statements,
specifically those concerning future performance such as those relating
to the success of the Company's measures to increase volume and revenue,
reduce costs and increase operating income, obtain capacity increases,
focus on customer relationships and retailer brand business, and
introduce new products are subject to certain risks and uncertainties,
and actual results may differ materially. These risks and uncertainties
are detailed from time to time in the Company's filings with the
appropriate securities commissions, and include, without limitation,
stability of procurement costs for raw and packaging materials, the
Company's ability to restore plant efficiencies and reduce logistics and
other costs, adverse weather conditions, competitive activities by other
brand beverage manufacturers, the Company's ability to develop new
products that appeal to consumer tastes, the Company's ability to
identify acquisition candidates, successfully consummate acquisitions and
integrate acquired businesses into its operations, fluctuations in
currency versus the U.S. dollar, the uncertainties of litigation and
regulatory review, loss of key customers and retailers' continued
commitment to their Company-supplied beverage programs. The foregoing
list of factors is not exhaustive. The Company undertakes no obligation
to publicly update or revise any forward-looking statements.

Contacts:
Cott Corporation
Edmund O'Keeffe
Investor Relations
(905) 672-1900 ext. 19216

Cott Corporation
Kimball Chapman
Investor Relations
(813) 313-1840
Website: www.cott.com

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