EXH.99.1 - CAUTIONARY STMT.-FORWARD-LOOKING

EXHIBIT 99.1


CAUTIONARY STATEMENT RELATIVE TO FORWARD-LOOKING STATEMENTS

The Private Securities Litigation Reform Act of 1995 (the
"Act") provides a safe harbor for forward-looking statements
made by or on behalf of the Company. The Company and its
representatives may from time to time make written or verbal
forward-looking statements, including statements contained
in the Company's filings with the Securities and Exchange
Commission and in its reports to share owners. All
statements which address operating performance, events or
developments that the Company expects or anticipates will
occur in the future, including statements relating to volume
growth, share of sales, and earnings per share growth or
statements expressing general optimism about future
operating results, are forward-looking statements within the
meaning of the Act. The forward-looking statements are and
will be based on management's then current views and
assumptions regarding future events and operating
performance.

The following are some of the factors that could cause
actual results to differ materially from estimates contained
in the Company's forward-looking statements:

- - the ability to generate sufficient cash flows to support
capital expansion plans, share repurchase programs and
general operating activities.
- - competitive product and pricing actions and the ability
to gain or maintain share of sales in the global market
as a result of actions by competitors. While we believe
our opportunities for sustained, profitable growth are
considerable, unanticipated actions of competitors could
impact our earnings, share of sales, and volume growth.
- - changes in laws and regulations, including changes in
accounting standards, taxation requirements (including
tax rate changes, new tax laws, and revised tax law
interpretations), and environmental laws in domestic or
foreign jurisdictions.
- - fluctuations in the cost and availability of raw
materials and the ability to maintain favorable supplier
arrangements and relationships.
- - the ability to achieve earnings forecasts, which are
generated based on projected volumes and sales of many
product types, some of which are more profitable than
others. There can be no assurances the Company will
achieve the projected level or mix of product sales.
- - interest rate fluctuations and other capital market
conditions, including foreign currency rate fluctuations.
Most of our exposures to capital markets, including
interest and foreign currency, are managed on a
consolidated basis, which allows us to net certain
exposures and, thus, take advantage of any natural
offsets. With more than three-fourths of our operating
income generated outside the United States, weakness in
one particular capital market is often offset by
strengths in others. Additionally, we use derivative
financial instruments to reduce our net exposure to
financial and commodity risks. There can be no
assurance, however, that our financial risk management
program will be successful in reducing these exposures.
- - economic and political conditions in international
markets, including civil unrest, governmental changes,
and restrictions on the ability to transfer capital
across borders.
- - the ability to penetrate developing and emerging markets,
which is also dependent on economic and political
conditions, and how well we are able to acquire or form
strategic business alliances with local bottlers and make
necessary infrastructure enhancements to production
facilities, distribution networks, sales equipment and
technology. Moreover, the supply of products in
developing markets must match the customers' demand for
those products, and due to product price and cultural
differences, there can be no assurance of product
acceptance in any particular market.
- - the ability to invest strategically in global and
domestic bottling operations and to reduce our ownership
interest in bottlers as deemed necessary or desirable,
either by selling our interest in a consolidated bottling
operation to one or more of our equity investee bottlers
or by combining our bottling interests with the bottling
interests of others to form strategic alliances.
Strategic alliances may require, among other things,
integration or coordination with a different company
culture, management team organization, and business
infrastructure.
- - the effectiveness of the Company's advertising, marketing
and promotional programs.
- - the uncertainties of litigation, as well as other risks
and uncertainties detailed from time to time in the
Company's Securities and Exchange Commission filings.
- - adverse weather conditions, which could reduce demand for
Company products.

The Company cautions that the foregoing list of important
factors is not exclusive.