EXECUTIVE OFFICE MEMORANDUM
Atlanta, GA
July 5, 2006
TO: ALL EMPLOYEES WORLDWIDE

Today, the Federal Bureau of Investigation and the United States Attorney's Office of the Northern District of Georgia successfully concluded an undercover operation that thwarted an attempt to steal and sell Coca-Cola trade secrets. The Company contacted the FBI after we were alerted that individuals were offering to sell our confidential information on the open market.

I am pleased to report that the individuals responsible for this crime have now been apprehended. The Company is cooperating fully with the government's investigation and prosecution of this matter. As this is an ongoing criminal matter, we are limited in what we can communicate. However, it should be noted that no personal employee information was ever at risk.

Sadly, today's arrests include an individual within our Company. While this breach of trust is difficult for all of us to accept, it underscores the responsibility we each have to be vigilant in protecting our trade secrets. Information is the lifeblood of the Company. As the health of our enterprise continues to strengthen and the breadth of our innovation pipeline continues to grow, our ideas and our competitive data carry increasing interest to those outside our business. Accordingly, I have directed a thorough review of our information protection policies, procedures and practices to ensure that we continue to rigorously safeguard our intellectual capital.

I would like to thank our Security and Legal teams for the manner in which they assisted law enforcement in this unfortunate situation. I would also like to express our sincere appreciation to PepsiCo for alerting us to this attack.

Let me end by emphasizing our shared responsibility to protect the intellectual capital of our Company and by encouraging us to continue working together in moving our business forward.

NEVILLE ISDELL