Exhibit 99.1


Contact:    Kelly McAndrew                                   Mary Winn Settino
            Public Relations                                 Investor Relations
            (914) 767-7690                                   (914) 767-7216
            (203) 613-1552 cell

                                                          FOR IMMEDIATE RELEASE
                                                          ---------------------

             THE PEPSI BOTTLING GROUP PREVIEWS FIRST QUARTER RESULTS
                       Company Affirms Full Year Guidance

     SOMERS,  N.Y., March 30, 2004 - The Pepsi Bottling Group,  Inc. (NYSE: PBG)
today announced preliminary results for its first quarter, which ended March 20,
2004.
     During a  presentation  at the Credit  Suisse  First Boston  (CSFB)  Global
Consumer Conference this morning,  PBG Chairman and Chief Executive Officer John
T. Cahill is expected to report that PBG's  worldwide  physical case volume grew
five percent in the first  quarter.  Physical  case volume in the U.S.  grew six
percent,  while volume growth in Canada and Europe increased four and 15 percent
respectively.  In Mexico,  carbonated  soft drink volume on an eight-ounce  case
basis grew six percent,  though on a physical case basis,  total volume was down
two percent.
     In the U.S.,  net revenue  per case grew more than two  percent  during the
first quarter.
     Mr. Cahill is also expected to confirm that first quarter diluted  earnings
per share should come in around the high end of the Company's  guidance range of
$0.15 to $0.18.
     PBG reiterated its expectation for full year diluted  earnings per share in
the  range of $1.62 to  $1.70.  The  Company  also  affirmed  its  forecast  for
worldwide volume growth in the low single digits along with net revenue per case
growth of about one percent.  In the U.S.,  net revenue per case is projected to
grow  about  two  percent.  PBG  operating  profit  is  expected  to grow in the
mid-single  digit  range.  For the full  year,  the  Company  expects  cash from
operations   less  capital   expenditures   to  increase  about  10  percent  to
approximately $480 million.
     Listen in live to Mr.  Cahill's  complete  presentation  at the CSFB Global
Consumer   Conference   today,   March   30,   2004  at  9:30   a.m.   (EST)  at
http://www.pbg.com.

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PBG PREVIEWS FIRST QUARTER RESULTS / 2 of 2


     The Pepsi Bottling Group, Inc. is the world's largest manufacturer,  seller
and  distributor of Pepsi-Cola  beverages with  operations in the U.S.,  Canada,
Greece,  Mexico,  Russia,  Spain and Turkey. To receive company news releases by
e-mail, please visit www.pbg.com.

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Statements  made in this press  release  that  relate to future  performance  or
financial  results of the Company are  forward-looking  statements which involve
uncertainties  that could  cause  actual  performance  or results to  materially
differ. PBG undertakes no obligation to update any of these statements.  Readers
are cautioned not to place undue reliance on these  forward-looking  statements,
which  speak  only  as to the  date  hereof.  Accordingly,  any  forward-looking
statement  should be read in conjunction with the additional  information  about
risks and  uncertainties  set forth in PBG's Securities and Exchange  Commission
reports,  including its annual  report on Form 10-K for the year ended  December
27, 2003.