DOC wine from Rioja, which is one of the most famous red wine regions in Spain. Majority of the grape should be Tempranillo (local species) with some Garnacha (Grenache in France).
Reserva Privada 1999: i.e. Private Reserve. Reserva means the wine has been aged in barrel for quite some while, should be > 18 months I guess. However the aging length does vary a lot among Spanish wines as I know their laws on these aspects are not very tight. (In ascending order: Joven (i.e. non-aged) --> Crianza --> Reserva --> Gran Reserva)
Personally I think 50 Euro is on the expensive side. 1999 is not really a great vintage for Rioja and most importantly, most Spanish wines can be bought < 20 Euro locally with reasonable good quality and styles.
