COCA COLA CO — Director's Dealing 2004

Dec 17, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COCA COLA CO (KO)
CIK: 0000021344
Period of Report: 2004-12-15

Reporting Person: BUFFETT WARREN E (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-15	Phantom Stock Units	$	A	877.8958	Acquired		Common Stock, $.25 par value (877.8958)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.25 par value	200000000	Indirect

Footnotes

F1: The stock is owned directly by the following subsidiaries of Berkshire Hathaway Inc.: National Indemnity Company (137,187,200 shares); National Fire and Marine Insurance Company (7,495,200 shares); Columbia Insurance Company (40,141,600 shares); Cypress Insurance Company (912,000 shares); National Liability & Fire Insurance Company (1,776,000 shares); Wesco-Financial Insurance Company (7,205,600 shares); Oak River Insurance Company (720,000 shares); National Indemnity Company of the South (1,002,400 shares); National Indemnity Company of Mid-America (1,036,000 shares); Redwood Fire & Casualty Insurance Company (1,644,000 shares); Nebraska Furniture Mart (480,000 shares); and Central States Indemnity Co. of Omaha (400,000 shares).

F2: Mr. Buffett is the Chairman of the Board of Berkshire Hathaway Inc. and may be deemed to control Berkshire Hathaway Inc. and its subsidiaries. Mr. Buffett disclaims "beneficial ownership," for purposes of Section 16 of the Securities and Exchange Act of 1934, of shares owned by Berkshire Hathaway Inc. or its subsidiaries.

F3: Each Phantom Stock Unit is economically equivalent to one share of Common Stock.

F4: The Phantom Stock Units were accrued under The Coca-Cola Company Deferred Compensation Plan for Non-Employee Directors and are to be settled 100% in cash after the reporting person leaves the Board.

F5: Includes 121.0540 Phantom Stock Units accrued as a result of crediting phantom dividends.