Press Release: The Coca-Cola Company
August 15, 2002
ATLANTA, GA -- Doug Daft, chairman and CEO of The Coca-Cola Company, announced today that the Company will join
with Bernie Marcus, co-founder of The Home Depot, and The Marcus Foundation to create a major downtown Atlanta
destination and visitor experience that will feature The Georgia Aquarium and a new World of Coca-Cola.
The 20-acre site, formerly known as the "Coca-Cola Olympic City" property, is located just north of Centennial
Olympic Park. The Company will donate approximately nine acres to The Georgia Aquarium, Inc., a new organization
established by The Marcus Foundation to operate the aquarium. In addition, the Company is developing plans to relocate
its World of Coca-Cola attraction near Underground Atlanta to the new site, creating a multi-complex entertainment
destination for the citizens of Atlanta, the people of Georgia and visitors from around the world.
"As we evaluated different opportunities for this property, our guiding principle was to ensure that the land
would ultimately be used in a way that would contribute to the revitalization of our downtown, enhance the quality
of life for our local community and have a lasting, positive impact on our city," said Mr. Daft. "After
Bernie approached me and I learned more about his vision and what The Marcus Foundation wanted to create, the more
we realized that this fit perfectly with what we wanted to accomplish with this property.
"The Coca-Cola Company has been proud to call Atlanta our home for 116 years," added Mr. Daft. "Our
donation of this property to The Georgia Aquarium is a way to thank the people of Atlanta and the state of Georgia
for being so supportive of The Coca-Cola Company for so many years."
Mr. Marcus announced last year his plans to pledge up to $200 million to build The Georgia Aquarium as a gift to
the people of Georgia for their more than two decades of support of The Home Depot. In May, The Marcus Foundation
announced a preliminary and tentative decision to locate the aquarium on the Atlantic Station development in Midtown
Atlanta. The 250,000-square-foot Georgia Aquarium will boast more than five million gallons of unique and exotic
aquatic life and will be among the largest in the world.
"We were always excited about Atlantic Station and still feel great respect for what they are going to achieve,
but having The Georgia Aquarium next to Centennial Olympic Park was too good for the people of the city and state,"
said Mr. Marcus. "We are grateful to Doug Daft and The Coca-Cola Company for this historic gift."
"This aquarium promises to be the single biggest attraction in the State of Georgia and this gift of land
by The Coca-Cola Company brings us that much closer to making that a reality," said Governor Roy E. Barnes.
"It is yet another example of Coca-Cola's commitment to a brighter future for Georgia and a new life for downtown
Atlanta. We are fortunate to have such an outstanding corporate citizen -- I applaud them for this donation."
The new World of Coca-Cola will be a larger, more interactive version of the current attraction, which has hosted
more than 10 million visitors since its opening in 1990. The Company will continue to operate World of Coca-Cola
in the interim period and has had productive discussions with local and state officials about opportunities for
future use of the land and building. The Company is in the early stages of planning for the new facility, and will
announce details at a later date.
"On behalf of the City of Atlanta, I want to thank Doug Daft and Bernie Marcus for creating a lasting idea
that will enrich our lives and make Atlanta an even better place to live," said Mayor Shirley Franklin. "The
Coca-Cola Company has been an unparalled leader in our community and a tremendous supporter of our city for decades,
and this is another great example of their commitment to our hometown. Importantly, this project will bring additional
energy to our continuing efforts to revitalize our downtown."
The Coca-Cola Company acquired the majority of this downtown property to stage "Coca-Cola Olympic City,"
a 12-acre interactive fan attraction that served as a central gathering point for fans during the 1996 Summer Olympic
Games in Atlanta.
Completion of The Georgia Aquarium and the new World of Coca-Cola is anticipated for 2005.
SOURCE: The Coca-Cola Company