EXHIBIT 99.1 - 12/11/98 PRESS RELEASE-CS

EXHIBIT 99.2


CONTACT: Nancy W. Ford
(404) 676-2817



THE COCA-COLA COMPANY ANNOUNCES
EXPECTATIONS FOR FOURTH-QUARTER WORLDWIDE
VOLUME AND EPS TRENDS


Worldwide economic uncertainty and volatility
continue to impact the Company's volume and earnings
during the quarter.

Fourth-quarter worldwide unit case sales are expected
to increase 2 to 4 percent on a comparable days basis,
following 10 percent growth in the fourth quarter of 1997.

Fully diluted earnings per share for the fourth quarter
are expected to be approximately $0.24 - $0.25.


ATLANTA, December 11, 1998 -- The Coca-Cola Company announced today that
it expects fourth-quarter worldwide unit case volume to be down slightly
on a reported basis and to increase 2 to 4 percent on a comparable days
basis. This expected increase is on top of a very strong 10 percent
growth in worldwide unit case volume in the fourth quarter of 1997.

(As previously announced, the fourth quarter of 1998 contains fewer
shipping days than the same quarter a year ago. This has no impact on
full year results, as additional shipping days were included in the
first quarter of this year.)

"The fundamental strengths of our business model and our long-term
opportunities and strategic approach remain intact throughout the
world," said M. Douglas Ivester, chairman, Board of Directors, and chief
executive officer. "However, during the fourth quarter, we have seen a
pattern of volatility in many markets that has resulted from continued
economic and political uncertainty."

"The results for the fourth quarter of 1998 do not change the underlying
opportunity that is before this global company. We will continue taking
a disciplined approach to managing through the current economic
environment, with a focus on creating value for our share owners over
time. This is a Company that knows how to keep growing and to take
advantage of opportunities that are ahead of us. In fact, in our 113-
year history, there is scarcely a time or place where we haven't
weathered economic storms and emerged in a better position than before."

As a result of the continued economic uncertainties, as well as the
impact of fewer shipping days in the fourth quarter, the Company
currently expects that fully diluted EPS in the fourth quarter of 1998
will be $0.24 to $0.25.

Commenting on the Company's expected financial performance, James E.
Chestnut, senior vice president and chief financial officer, said,
"Throughout the quarter, volumes have continued growing at strong rates
in many markets throughout the world. But, in several key markets that
have been impacted by economic uncertainty and volatility, along with
structural changes within the Coca-Cola system, volume and financial
contributions have been weaker than anticipated, affecting operating
income and leading to equity losses in some cases. In addition, currency
has continued to have a negative impact on the Company's results with
an approximate negative 10 percent impact on both the fourth quarter
and the full year."

Detailed below is a summary of expected results for the fourth quarter:

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IMPACTED MARKETS OTHER MARKETS
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Markets impacted by economic Remaining markets which
uncertainty and volatility are not impacted by economic
including Brazil, Germany, uncertainty and volatility
Japan, Russia, SE Asia,
Venezuela and Colombia
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VOLUME EXPECTATIONS: VOLUME EXPECTATIONS:
Comparable days: Down mid Comparable days: Up mid
single digit single digit

Reported basis: Down low Reported basis: Up low single digit
double digit
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FINANCIAL IMPLICATIONS: FINANCIAL IMPLICATIONS:
- - Weaker operating income
- - Lower equity income and - Solid financial results on a
in some cases, equity losses local currency basis
- - Continued negative impact - Continued negative impact
of currency of currency
- ------------------------------------------------------------------------


This news release contains forward-looking statements concerning long
term volume and EPS objectives and should be read in conjunction with
cautionary statements contained in Exhibit 99.1 in the Company's most
recent Form 10-K.



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