COCA COLA CO — Director's Dealing 2004

Jan 5, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COCA COLA CO ((KO))
CIK: 0000021344
Period of Report: 2003-12-31

Reporting Person: FAYARD GARY P (Executive Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-31	Common Stock, $.25 par value	M	8000	$25.375	Acquired	27145	Direct
2003-12-31	Common Stock, $.25 par value	F	4017	$50.530	Disposed	23128	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-31	Employee Stock Option (right to buy)	$25.375	M	8000	Disposed	2004-10-18	Common Stock, $.25 par value (8000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.25 par value	3205	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Hypothetical shares	$0.000		Common Stock, $.25 par value (2318)	2318	Indirect

Footnotes

F1: Shares delivered to the issuer to pay the option exercise price.

F2: Includes 14 shares acquired in December 2003 under The Coca-Cola Company Dividend and Cash Investment Plan.

F3: Shares credited to my account under The Coca-Cola Company Thrift & Investment Plan, a tax-qualified 401(k) plan, as of December 31, 2003.

F4: Grant was awarded on October 19, 1994. One-third of grant became exercisable one year after date of grant, with the remainder becoming exercisable in equal monthly installments over the next 24 months.

F5: Each hypothetical share is equal to one share of Common Stock of The Coca-Cola Company.

F6: There is no data applicable with respect to the hypothetical shares.

F7: As of December 31, 2003.