Coca-Cola Bottling Co. Consolidated today announced the pricing for its current offer to exchange up to US$200,000,000 principal amount of its outstanding debentures for a new series of Senior Notes due June 15, 2016.

The total exchange price for each US$1,000 principal amount of 6-3/8% Debentures tendered, using a yield of 4.224%, will be US$1,075.68, consisting of US$1,000 principal amount of New Notes and US$85.81 in cash.

The total exchange price for each US$1,000 principal amount of 7.20% Debentures tendered, using a yield of 4.224%, will be US$1,108.95, consisting of US$1,000 principal amount of New Notes and US$119.08 in cash. The interest rate on the New Notes will be 5.00%, the yield on the New Notes will be 5.122% and the issue price of the New Notes will be $989.87.

Holders who tendered their Old Debentures after 5:00 p.m., New York City time, on June 7, 2005, will receive, for each US$1,000 principal amount of Old Debentures tendered, the applicable total exchange price less the early participation payment as specified in the Offering Memorandum.

The exchange offer will expire at midnight, New York City time, on June 21, 2005, unless extended or terminated. The exchange of Old Debentures for New Notes is currently scheduled to occur on June 24, 2005.