2004 Results
The Africa operating segment delivered unit case volume growth in 2004 of 3 percent, as strong performance in Kenya, Morocco and South Africa was offset somewhat by weak results in Egypt and Nigeria.

We continue to focus on fundamentals to drive profitable unit case volume growth. The creation of new drink outlets, improvements in market execution and affordability initiatives remain at the forefront of our strategy to drive our core brands. In 2004, unit case volume for Trademark Coca-Cola, Trademark Sprite and Trademark Fanta increased 8 percent, 11 percent and 8 percent, respectively, as a result of these initiatives.

In South Africa, the Company had a solid year with unit case volume increasing 7 percent. Strong marketing connections and good execution from our bottling partners drove results.

In Egypt, our Company’s unit case volume was negatively affected as we focused on improving overall system profitability by balancing pricing and packaging.

Unit case volume in Nigeria declined due in part to our decision to de-emphasize less-profitable water packages.

2004 Highlights
Ghana: Unit case volume increased 4 percent in 2004. A third bottling line was introduced by our bottling partner during the year.

Morocco: Unit case volume increased by 15 percent in 2004. Trademark Coca-Cola unit case volume increased 9 percent.

South Africa: New product launches included BonAqua flavored waters, diet Coke with lemon and Fruitopia. Trademark Coca-Cola unit case volume increased 7 percent.

Tanzania: Fanta unit case volume increased 23 percent for the year, contributing to an overall unit case volume increase of 13 percent for 2004.