HIGHLIGHTS FOR THE FIRST QUARTER

• Volume of 310 million unit cases, 4% ahead of the same period in 2004,

• Operating profit of €46.8 million versus €42.6 million,10% ahead of the prior year

• Net income of €13.0 million versus €10.9 million, a 19% increase compared to the same period in 2004.

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

‘These results reflect strong organic volume growth, mix improvement, cost control and favourable currency impact. Our continued focus on market execution has enabled us to deliver a strong performance across the majority of our countries and all beverage categories, against a tough prior year comparison. In addition, operational efficiencies and aggressive cost controls have partially offset higher raw material prices.

It was particularly pleasing to see volume improvement and market share gains in our developing markets following the weaker volumes we experienced last year. Importantly, we continued to improve profitability in the Italian market and once again delivered excellent growth in Russia and Romania. We are excited to have broadened our presence in Russia with the acquisition of Multon and are optimistic about its prospects going forward.’

                                                                                                                                                      12 May 2005

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