Exhibit 99.1

CONTACT:    Investors: Jackson Kelly

(404) 676-7563

Media:  Dana Bolden

(404) 676-2683

pressinquiries@na.ko.com

THE COCA-COLA COMPANY

2009 THIRD QUARTER AND YEAR-TO-DATE RESULTS

Today, our Company reports continued growth in worldwide unit case volume, which drove gains in global volume and value share, with year-to-date revenue growth in line with our long-term target and profit growth exceeding our long-term target.

·                  International unit case volume growth of 4 percent in the quarter and year-to-date led to solid worldwide unit case volume growth of 2 percent in the quarter and year-to-date.

·                  Third quarter reported EPS was $0.81, even with the prior year quarter. Comparable EPS was $0.82, down 1 percent versus the prior year quarter reflecting a negative currency impact.

·                  Reported operating income decreased 2 percent in the quarter and decreased 4 percent year-to-date. Comparable currency neutral operating income growth of 9 percent in the quarter and year-to-date, exceeding our long-term growth target.

·                  Strong cash generation, with year-to-date cash from operations of $6.3 billion, an increase of 11 percent versus the prior year period.

·                  Global volume and value share gains continued for the ninth consecutive quarter.

·                  Productivity initiatives well on track to achieve $500 million in annualized savings by year-end 2011; with plans to deliver more than half of the savings by year-end 2009.

ATLANTA, Oct. 20, 2009 – The Coca-Cola Company reports sound third quarter 2009 operating results with unit case volume increasing 2 percent, successfully cycling 5 percent growth in the prior year quarter.  Internationally, we achieved broad-based unit case volume growth of 4 percent, cycling 7 percent growth in the prior year quarter.  In the quarter, unit case volume growth increased strongly in key emerging markets with 37 percent growth in India, 15 percent growth in China and 3 percent growth in Brazil.

Globally, we gained volume and value share in nonalcoholic ready-to-drink beverages for the ninth consecutive quarter.  The global “Open Happiness” campaign continued to fuel growth of brand Coca-Cola.  Notably, brand Coca-Cola unit case volume growth was strong, up 2 percent in the quarter, across both developed and emerging markets including 8 percent growth in Mexico, 6 percent growth in Italy, 27 percent growth in India and 3 percent growth in China.  Total sparkling beverage unit case volume increased 1 percent in the quarter, with international sparkling beverage unit case volume increasing 2 percent, cycling 5 percent growth in the prior year quarter.  Total still beverage unit case volume increased 7 percent in the quarter, led by sound growth across the portfolio, including juices and fruit stills, teas and water brands. Still beverage unit case volume increased 10 percent internationally and was even in North America.

“I am pleased to report that we have again delivered solid results this quarter,” said Muhtar Kent, chairman and chief executive officer, The Coca-Cola Company.  “We continue to grow our currency neutral revenues, gain global nonalcoholic ready-to-drink volume and value share, expand our margins and invest in our business, all while generating tremendous cash flow.  The fundamentals of our business remain strong and our franchise system is delivering results that keep us on track to achieve our long-term growth expectations.  Although we expect the consumer to continue facing economic uncertainties into 2010 and for consumer sentiment to recover slowly, we believe more than ever that we have the right strategies being executed, the right leadership team in place and have taken the right actions this year to drive continued growth and to make the most of the abundant opportunities before us.”

“This is a dynamic time in the history and evolution of our Company,” said Mr. Kent.  “With our 2020 Vision, we have a clear Coca-Cola system vision for the future of our business, and we are applying that vision in our strategic planning, system alignment and focused

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execution.  Each day we work diligently to make our Company stronger for the future and to ensure that we continue driving long-term sustainable results, while delivering the beverages that consumers love.”

FINANCIAL HIGHLIGHTS

·                  Year-to-date reported net revenues decreased 5 percent.  After excluding structural items, year-to-date net revenues increased 5 percent on a comparable currency neutral basis, in line with our long-term growth target.

·                  Year-to-date reported operating income decreased 4 percent.  With continued focus on cost management and by leveraging our productivity initiatives, year-to-date operating income increased 9 percent on a comparable currency neutral basis, exceeding our long-term growth target.

·                  Year-to-date cash from operations increased to $6.3 billion, and we repurchased $241 million of our stock in the third quarter.

OPERATING REVIEW

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Eurasia & Africa

·                  Our Eurasia and Africa Group’s unit case volume increased 2 percent in the quarter, cycling 9 percent growth in the prior year quarter.  Year-to-date unit case volume increased 4 percent, cycling 7 percent growth in the prior year period.  Net revenues for the quarter decreased 9 percent, reflecting a 6 percent increase in concentrate sales offset by a double-digit negative impact from currencies and negative pricing and mix.  Reported operating income increased 2 percent in the quarter.  Comparable currency neutral operating income increased 13 percent due to the increase in concentrate sales and tight expense management.

·                  In Eurasia and Africa, sparkling beverages increased 1 percent and still beverages increased 7 percent in the quarter.  The growth in unit case volume was led by a 37 percent increase in India, which cycled an 18 percent increase in the prior year.  Africa also reported strong unit case volume growth in the quarter with the East and Central Region growing 11 percent, cycling 7 percent growth in the prior year, and the North and West Region growing 5 percent, cycling 9 percent growth in the prior year.  Reflecting the impact of a continued challenging economic environment, Russia reported a double-digit unit case volume decline but gained share in nonalcoholic ready-to-drink beverages.

·                  In the quarter, Eurasia and Africa gained volume and value share in nonalcoholic ready-to-drink beverages.  India gained volume and value share across most categories including sparkling, still and juice and juice drinks.

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Europe

·                  Our Europe Group’s unit case volume decreased 2 percent in the quarter, cycling 3 percent growth in the prior year quarter, reflecting a challenging macroeconomic environment.  Year-to-date unit case volume decreased 1 percent, cycling 2 percent growth in the prior year period.  Net revenues for the quarter decreased 10 percent, primarily driven by a double-digit negative impact from currencies and a 1 percent decrease in concentrate sales, partially offset by positive pricing and mix.  Reported operating income decreased 3 percent in the quarter.  Comparable currency neutral operating income increased 7 percent benefiting from tight expense management.

·                  Unit case volume growth in Northwest Europe was offset by weakness in Spain and Eastern Europe due to significant macroeconomic challenges in those regions.

·                  In the quarter, Europe gained volume and value share in nonalcoholic ready-to-drink beverages and gained value share across all key countries.

Latin America

·                  Our Latin America Group continued to deliver strong unit case volume growth with 7 percent growth in the quarter, cycling 8 percent growth in the prior year quarter.  Year-to-date unit case volume increased 6 percent, cycling 8 percent growth in the prior year period. Net revenues for the quarter decreased 3 percent, primarily due to a double-digit negative impact from currencies, partially offset by a 6 percent increase in concentrate sales and a double-digit positive impact from pricing and mix.  Reported operating income was even with the prior year quarter.  Comparable currency neutral operating income increased 18 percent primarily reflecting the higher concentrate sales and positive pricing and mix partially offset by continued investment in key marketing and business initiatives.

·                  Strong unit case volume growth in the quarter was led by a 9 percent increase in Mexico, a 3 percent increase in Brazil and an 11 percent increase in our Latin Center Region.

·                  Latin America delivered growth across the portfolio with sparkling beverages increasing 4 percent and still beverages increasing 21 percent in the quarter.  Notably, brand Coca-Cola and Trademark Coca-Cola both grew 5 percent in the quarter.

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·                  In the quarter, the Latin America Group gained volume and value share in both the sparkling and still categories.

North America

·                  Our North America Group’s unit case volume declined 4 percent in the quarter primarily due to the shift of the July 4th holiday volume from the third quarter into the second quarter, an aggressive competitive pricing environment within still beverages and the continuing difficult macroeconomic environment.  Year-to-date unit case volume decreased 2 percent.  Net revenues for the quarter decreased 2 percent, reflecting a 1 percent positive impact from pricing and mix offset by a 3 percent decrease in concentrate sales.  Reported operating income increased 10 percent in the quarter primarily reflecting lower cost of goods sold attributable to lower commodity costs and the benefits of our ongoing productivity initiatives.

·                  Unit case volume for sparkling beverages declined 5 percent in the quarter as we cycle the industry-leading bottler pricing taken in the latter part of 2008; however, brand health scores continued to improve.  Importantly, Coca-Cola Zero delivered double-digit unit case volume growth in the quarter, achieving 14 consecutive quarters of double-digit growth.

·                  Still beverage unit case volume was even in the quarter. Still volume in our Foodservice and Hospitality business continued to grow, driven by innovation and new segmented customer offerings in our tea portfolio.

·                  In the quarter, North America gained significant value share in nonalcoholic ready-to-drink beverages for the fourth consecutive quarter.  Still beverages gained volume share for the ninth consecutive quarter and gained value share for the fourth consecutive quarter, led by strong performance in our Foodservice and Hospitality business and Trademark Simply.  Trademark Simply continued to perform strongly with new flavor innovations and expanded availability, contributing to share gains in the juice and juice drinks category.

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Pacific

·                  Our Pacific Group delivered unit case volume growth of 6 percent in the quarter, cycling 7 percent growth in the prior year quarter.  Year-to-date unit case volume growth increased 5 percent, cycling 7 percent growth in the prior year period.  Net revenues for the quarter decreased 1 percent, reflecting a mid single-digit positive impact from currencies and a 3 percent increase in concentrate sales offset by negative country and channel mix.  Reported operating income decreased 10 percent in the quarter.  Comparable currency neutral operating income decreased 17 percent primarily reflecting negative country and channel mix partially offset by higher concentrate sales.

·                  Pacific delivered unit case volume growth across the portfolio with sparkling beverages increasing 5 percent and still beverages increasing 8 percent in the quarter.  Importantly, Trademark Coca-Cola grew 4 percent in the quarter.

·                  In China, unit case volume grew 15 percent in the quarter driven by double-digit growth in Trademark Sprite and Minute Maid, as well as mid single-digit growth in Trademark Coca-Cola, contributing to volume and value share gains across sparkling and still beverages.

·                  In Japan, unit case volume growth declined 4 percent in the quarter reflecting the weak economy and unfavorable weather.  However, our business in Japan continued to outperform the nonalcoholic ready-to-drink industry, resulting in the sixth consecutive quarter of share gains. Importantly, Georgia Coffee unit case volume increased 1 percent in the quarter driven by the introduction of additional low-calorie options and our new “Welcome to Georgia” campaign.

Bottling Investments

·                  Our Bottling Investments Group’s unit case volume increased 4 percent in the quarter, primarily driven by strong growth in China, India and the Philippines, partially offset by the impact of the Pakistan bottler divestiture in the prior year.  Net revenues for the quarter decreased 4 percent, primarily reflecting the increase in unit case volume offset by a negative currency impact and the impact of the divestiture in the prior year.  Reported operating income increased 26 percent in the quarter while comparable currency neutral operating income increased 56 percent, primarily driven by favorable commodity costs and tight expense management.

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FINANCIAL REVIEW

Net operating revenues for the quarter decreased 4 percent, driven by a 6 percent negative currency impact and a 1 percent negative impact from a structural change offset by a 2 percent increase in concentrate sales and a 1 percent positive impact from pricing and mix.  The structural change relates to the divestiture of a portion of our ownership interest in the Pakistan bottler in 2008, which resulted in its deconsolidation.  Excluding the impact of this divestiture, our comparable currency neutral net revenues increased 5 percent year-to-date, in line with our long-term growth target.

Cost of goods sold decreased 3 percent in the quarter.  This decrease is primarily driven by the 2 percent increase in concentrate sales offset by a 3 percent impact from currencies and a 1 percent impact from the structural change related to our bottling investments.

Selling, general and administrative expenses decreased 7 percent in the quarter primarily driven by a 6 percent currency impact.  In addition, the decrease was partly attributable to our more effective management of general and administrative expenses, the structural change related to bottling investments and a net decrease in incentive compensation expense partially offset by an increase in pension costs.

Reported and comparable operating income decreased 2 percent in the quarter.  Items impacting comparability reduced operating income by $48 million in 2009 and by $47 million in 2008 and were primarily related to restructuring charges and costs related to global productivity initiatives.  Comparable currency neutral operating income increased 9 percent in the quarter, exceeding our long-term growth target.  Currency negatively impacted comparable operating income by 11 percent in the quarter.  After considering current spot rates, the anticipated benefits of our hedging coverage and the cycling of prior year exchange rates, we expect currencies to have a low to mid single-digit positive impact on operating income in the fourth quarter of 2009.

For the third quarter of 2009, our reported earnings per share were $0.81, even with the third quarter of 2008.  Reported earnings per share for the third quarter of 2009 and 2008 included a net charge of $0.01 and $0.02 per share, respectively, primarily due to restructuring charges and costs related to global productivity initiatives.  The 2008 net charge also included a gain on the sale of a portion of our investment in the Pakistan bottler.  After considering the

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items impacting comparability, earnings per share in the quarter were $0.82, a decrease of 1 percent versus the third quarter of 2008.  Earnings per share continue to be negatively impacted by the relative strength of the U.S. dollar versus other currencies around the world.

Cash from operations was $6.3 billion year-to-date compared with $5.7 billion in the prior year period, an increase of 11 percent.  This increase was driven by an improvement in working capital versus the prior year.  In the third quarter, we repurchased $241 million of our stock, and we intend to repurchase up to $1 billion of stock by year end.

Effective Tax Rate

The Company’s estimated effective tax rate reflects, among other items, our best estimates for 2009 operating results and foreign currency exchange rates.  If actual results are different than these estimates, the underlying effective tax rate could change.

As discussed in the second quarter earnings release, we had previously estimated that the underlying effective tax rate on operations would be approximately 23.5 percent for the full year.  We now anticipate that the underlying effective tax rate on operations for the full year 2009 will be approximately 23.0 percent.  We are required to record income tax expense for the first nine months of the year based on the estimated effective tax rate for the full year.  To bring the effective tax rate for the first nine months of 2009 in line with the current estimated full year underlying effective tax rate, we recorded income tax expense at an underlying effective tax rate of approximately 22.0 percent in the third quarter.

Our estimated underlying effective tax rate does not reflect the impact of significant or unusual items and discrete events, which, if and when they occur, are separately recognized in the appropriate period.  The reported effective tax rate for the quarter was 21.4 percent.

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Items Impacting Prior Year Results

Third quarter 2008 results included a net charge of $0.02 per share primarily due to restructuring charges and costs related to global productivity initiatives partially offset by a gain on the sale of a portion of our investment in the Pakistan bottler.

Second quarter 2008 results included a net charge of $0.40 per share primarily related to charges recorded by our equity method investees, restructuring charges and asset write-downs.

First quarter 2008 results included a net charge of $0.03 per share primarily related to restructuring charges and asset write-downs.

NOTES

·                  All references to growth rate percentages and share compare the results of the period to those of the prior year comparable period.

·                  All references to unit case volume percentage changes are computed based on average daily sales for all periods presented.

·                  2009 year-to-date results are positively impacted by five additional selling days, which will be offset by six fewer selling days in the fourth quarter.

·                  Our long-term growth targets as referenced in this release are on a comparable currency neutral basis and exclude structural changes.

CONFERENCE CALL

We are hosting a conference call with investors and analysts to discuss our 2009 third quarter and year-to-date results today at 9:30 a.m. (EDT). We invite investors to listen to the live audiocast of the conference call at our Web site,
http://www.thecoca-colacompany.com in the “Investors” section. A replay in downloadable MP3 format will also be available within 24 hours after the audiocast on our Web site.  Further, the “Investors” section of our Web site includes a reconciliation of non-GAAP financial measures that may be used periodically by management when discussing our financial results with investors and analysts to our results as reported under GAAP.

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THE COCA-COLA COMPANY AND SUBSIDIARIES

Condensed Consolidated Statements of Income

(UNAUDITED)

(In millions except per share data)

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THE COCA-COLA COMPANY AND SUBSIDIARIES

Condensed Consolidated Statements of Income

(UNAUDITED)

(In millions except per share data)

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THE COCA-COLA COMPANY AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(UNAUDITED)

(In millions except par value)

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THE COCA-COLA COMPANY AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(UNAUDITED)

(In millions)

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THE COCA-COLA COMPANY AND SUBSIDIARIES

Operating Segments

(UNAUDITED)

(In millions)

Three Months Ended

(1)     Intersegment revenues for the three months ended October 2, 2009, were approximately $72 million for Eurasia and Africa, $243 million for Europe, $44 million for Latin America, $7 million for North America, $87 million for Pacific and $36 million for Bottling Investments.

(2)     Operating income (loss) and income (loss) before income taxes for the three months ended October 2, 2009, were reduced by approximately $2 million for Europe, $2 million for North America, $1 million for Pacific, $18 million for Bottling Investments and $25 million for Corporate, primarily due to the Company’s ongoing productivity initiatives and restructuring costs.

(3)     Income (loss) before income taxes for the three months ended October 2, 2009, was reduced by approximately $5 million for Bottling Investments and $1 million for Corporate, primarily attributable to the Company’s proportionate share of restructuring charges recorded by certain of our equity method investees.

(4)     Income (loss) before income taxes for the three months ended October 2, 2009, was increased by approximately $10 million for Corporate due to realized gains on the sale of equity securities that were classified as available-for-sale. In 2008, the Company recognized an other-than-temporary impairment related to these investments.

(5)     Intersegment revenues for the three months ended September 26, 2008, were approximately $52 million for Eurasia and Africa, $280 million for Europe, $44 million for Latin America, $17 million for North America, $84 million for Pacific and $55 million for Bottling Investments.

(6)     Operating income (loss) and income (loss) before income taxes for the three months ended September 26, 2008, were reduced by approximately $1 million for Latin America, $6 million for North America, $12 million for Bottling Investments and $28 million for Corporate, primarily due to restructuring costs and productivity initiatives.

(7)     Income (loss) before income taxes for the three months ended September 26, 2008, was reduced by approximately $3 million for Bottling Investments, primarily attributable to the Company’s proportionate share of restructuring charges recorded by certain of our equity method investees.

(8)     Income (loss) before income taxes for the three months ended September 26, 2008, was increased by approximately $16 million for Corporate due to a gain on the sale of 49 percent of our interest in Coca-Cola Beverages Pakistan Ltd. (“Coca-Cola Pakistan”) to Coca-Cola Icecek A.S. (“Coca-Cola Icecek”).

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THE COCA-COLA COMPANY AND SUBSIDIARIES

Operating Segments

(UNAUDITED)

(In millions)

Nine Months Ended

(1)     Intersegment revenues for the nine months ended October 2, 2009, were approximately $186 million for Eurasia and Africa, $685 million for Europe, $113 million for Latin America, $56 million for North America, $268 million for Pacific and $98 million for Bottling Investments.

(2)     Operating income (loss) and income (loss) before income taxes for the nine months ended October 2, 2009, were reduced by approximately $3 million Eurasia and Africa, $3 million for Europe, $15 million for North America, $1 million for Pacific, $109 million for Bottling Investments and $81 million for Corporate, primarily as a result of restructuring costs, the Company’s ongoing productivity initiatives and asset impairments.

(3)     Income (loss) before income taxes for the nine months ended October 2, 2009, was reduced by approximately $66 million for Bottling Investments and $2 million for Corporate, primarily attributable to the Company’s proportionate share of asset impairment and restructuring charges recorded by certain of our equity method investees.

(4)     Income (loss) before income taxes for the nine months ended October 2, 2009, was reduced by approximately $27 million for Corporate due to an other-than-temporary impairment of a cost method investment.

(5)     Income (loss) before income taxes for the nine months ended October 2, 2009, was increased by approximately $10 million for Corporate due to realized gains on the sale of equity securities that were classified as available-for-sale. In 2008, the Company recognized an other-than-temporary impairment related to these investments.

(6)     Intersegment revenues for the nine months ended September 26, 2008, were approximately $159 million for Eurasia and Africa, $810 million for Europe, $164 million for Latin America, $47 million for North America, $272 million for Pacific and $170 million for Bottling Investments.

(7)     Operating income (loss) and income (loss) before income taxes for the nine months ended September 26, 2008, were reduced by approximately $1 million for Latin America, $12 million for North America, $25 million for Bottling Investments and $204 million for Corporate, primarily attributable to restructuring costs, contract termination fees, asset impairments and productivity initiatives.

(8)     Income (loss) before income taxes for the nine months ended September 26, 2008, was reduced by approximately $1.1 billion for Bottling Investments, primarily as a result of our proportionate share of an impairment charge recorded by Coca-Cola Enterprises Inc. (“CCE”).

(9)     Income (loss) before income taxes for the nine months ended September 26, 2008, was increased by approximately $118 million for Bottling Investments and Corporate, primarily due to the gain on the sale of Refrigerantes Minas Gerais Ltda. (“Remil”), a bottler in Brazil, to Coca-Cola FEMSA, S.A.B. de C.V. (“Coca-Cola FEMSA”).

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THE COCA-COLA COMPANY AND SUBSIDIARIES

Reconciliation of GAAP and Non-GAAP Financial Measures

(UNAUDITED)

(In millions except per share data)