A solid start to the year

FIRST QUARTER HIGHLIGHTS

• Volume of 402 million unit cases, 18% above 2006,

• Steady progress in operating profit (EBIT) to €60 million, 11% above prior year, on a comparable basis,

• Net profit of €25 million, 25% above prior year, on a comparable basis,

• EPS of €0.10, 25% above prior year, on a comparable basis.

Note: Comparable financial indicators (previously referred to as ‘underlying’) relate only to 2006 (Operating profit, EPS, etc.) and exclude the recognition of pre-acquisition tax losses and restructuring costs.

Doros Constantinou, Managing Director of Coca‑Cola HBC, commented:

‘I am pleased to report positive momentum across all our territories and product portfolio during the first quarter of 2007. Our continued effort to strengthen our commercial capabilities and route-to-market effectiveness, together with favourable weather conditions, had a positive impact on our volumes. We are also encouraged by the early consumer response to the recent launch of Coca‑Cola Zero in certain of our markets. Solid organic growth, realisation of planned pricing and improved operating efficiency helped offset persisting raw material cost increases and the planned first-quarter investment in our sales capabilities. Given this strong start to the year, albeit in a quarter that is traditionally the least significant for our business, we remain comfortable with our full year guidance.’

                                                                                                                                                           10 May 2007

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