EXHIBIT 99.1
                                                                        
FOR IMMEDIATE RELEASE

                                  CONTACT:     Media: Randy Donaldson
                                                       (404) 676-3853

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


               THE COCA-COLA COMPANY AND CADBURY SCHWEPPES
                                    
                   ANNOUNCE $1.85 BILLION TRANSACTION
                                    
                  FOR CADBURY SCHWEPPES BEVERAGE BRANDS



LONDON, DECEMBER 11, 1998 - The Coca-Cola Company and Cadbury Schweppes
today announced that they have signed agreements for The Coca-Cola
Company to acquire Cadbury Schweppes' beverage brands in more than 120
countries around the world for approximately $1.85 billion. These brands
include Schweppes and Canada Dry mixers, Dr Pepper, Crush and other
regional brands. The transactions do not apply to the U.S., France and
South Africa.

The agreements will give The Coca-Cola Company ownership of outstanding
brands in beverage segments in which it does not currently participate
in any significant way. Schweppes and Canada Dry tonic waters, club
sodas and ginger ales are included, as are a variety of juice products,
bottled waters and dilutables. The transactions also include acquisition
of beverage base plants in Ireland and Spain.

Completion of the transactions is subject to regulatory review in a
number of countries and certain other approvals. The Coca-Cola Company
and Cadbury Schweppes anticipate closing of the transaction in the
middle of 1999.

"These agreements will allow The Coca-Cola Company to participate in
segments of the beverage business where it currently does not have
meaningful entries," said M. Douglas Ivester, chairman of the Board and
chief executive officer, The Coca-Cola Company. "The family of Cadbury
Schweppes brands will be a wonderful addition to the core brands of The
Coca-Cola Company.

"Because we currently do not have any broadly-distributed brands in
these segments, the transactions will provide our consumers and
customers increased availability of a greater variety of non-alcoholic
beverages and enhanced profitability opportunities for our customers."

"These agreements will create immediate and substantial value for our
shareowners and simultaneously enhance our ability to develop and focus
on our strong global confectionery and U.S. beverage business," said
John Sunderland, chief executive officer of Cadbury Schweppes.

"Cadbury Schweppes non-U.S. beverages brands are renowned and
profitable," Mr. Sunderland added. "However, this development recognizes
that they can be more successfully grown within the broader
international infrastructure which Coca-Cola has established over many
years."

Following completion of the transactions, all of Cadbury Schweppes'
approximately 450 employees associated with the franchising of these
brands and manufacturing of concentrate in these territories will have
the opportunity to take jobs with The Coca-Cola Company.

"We look forward to welcoming Cadbury Schweppes employees to the
Coca-Cola family," said Mr. Ivester. "Great brands do not just happen -
they are the result of the hard work of talented, committed people.
Cadbury Schweppes' beverage team will play an important role in
integrating these new brands into our business system."

                                    
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