SHAREHOLDERS PUSH COCA-COLA ON RECYCLING

CONTACT: Kenneth Scott, Walden Asset Management, (617) 726-7003;
Steven Heim, Boston Common Asset Management, (802) 223-4627

ATLANTA - April 25, 2003 - Coca-Cola Enterprises (NYSE: CCE) shareholders vote today, Friday, April 25 at the company's shareholder meeting on a proposal to establish a beverage container recovery goal. The shareholder proposal, sponsored by ICCR Member Brethren Benefit Trust (BBT), calls for Coke Enterprises to adopt a beverage container recycling goal.

Coke Enterprises is the largest bottler of Coca-Cola Company (NYSE: KO) beverages. Coke Enterprises sells millions of plastic bottles and aluminum cans of beverages every day in the United States and elsewhere. Unfortunately, the U.S. recycling rate for beverage containers has declined significantly in recent years. The U.S. recycling rate for aluminum beverage cans declined from 61% in 1994 to 49% in 2001, while the recycling rate for plastic soft drink bottles declined from 50% in 1994 to 35% in 2001.

"Two-thirds of the used PET plastic bottles and nearly one-half of the cans sold are not recycled. This environmental burden exacerbates diminishing landfill capacity and causes unnecessary use of oil and other natural resources," stated Steven Heim, Director of Social Research at Boston Common Asset Management, an investment advisor to BBT.

"Significant container recovery rates are possible. In the ten U.S. states with container deposit legislation (or bottle bills), recycling rates of 70% and higher were achieved. In Norway and Sweden companies have achieved beverage container recovery rates of more than 80%. In the U.S., states with beverage container deposit systems recover three times as many bottles as states without deposits. Nevertheless, despite declining recycling rates, Coca-Cola Enterprises actively opposes container deposit systems without putting forth a solution capable of achieving similar recovery rates," stated Kenneth Scott, Portfolio Manager at Walden Asset Management, which is also working with BBT and has led discussions with several companies on this matter.

Coca-Cola Enterprises and Coca-Cola Company have promised to put 10% recycled content in all of their PET plastic beverage bottles in North America by 2005. PepsiCo (NYSE: PEP) has established a goal to put 10% recycled content in PET plastic soda and water bottles in the U.S. by 2005. Yet neither Pepsi, nor Coca-Cola Enterprises, nor Coca-Cola Co have taken action to adopt publicly stated goals or a sustainable plan for achieving high rates of container recovery. Coca-Cola Company owns a stake of approximately 40% in Coca-Cola Enterprises.

"Setting substantive container recovery goals will help to reverse the decline in national recycling rates, protect brand value, reduce risk by diversifying container feedstock, and allow Coke to gain competitive 'first-mover' advantage," stated Steven Heim. "Without container recovery goals in place, Coke Enterprises cannot claim to have a comprehensive recycling strategy. Coca-Cola Enterprises, Coca-Cola Company, PepsiCo and other beverage companies all have a responsibility in this regard."

"For more than three years, a coalition of concerned shareholders has asked Coke and Pepsi to set public goals for recycled content and for container recovery. We are pleased with the progress made to date on recycled content, but are concerned with the lack of substantive, public goals for container recovery," said Walden's Ken Scott.

Walden Asset Management, As You Sow Foundation, Domini Social Investments and other socially responsive investors have been encouraging Coca-Cola Co., PepsiCo, PepsiAmericas, and other companies to establish beverage container recovery rates. To date, they have refused to do so.

Walden Asset Management (www.waldenassetmgmt.com) is the socially responsive investment division of United States Trust Company of Boston. Founded in 1975, Walden blends a disciplined investment style with expertise in social screening and a commitment to using its leverage as investors to improve corporate social performance. Walden's portfolio managers and social research and shareholder advocacy team work to serve all aspects of their clients' unique investment needs - from portfolio management and trusteeship to customized social research and shareholder advocacy.

Boston Common Asset Management, LLC is an employee-owned, full-service social investment firm dedicated to excellence in helping clients achieve their financial and social goals. Our experienced social investment team offers customized portfolio management in US large cap equity and balanced as well as small cap and international social investment options. Our efforts on the social dimension include thorough research, tenacious shareholder advocacy, and community development investing.