The write down, following a comprehensive review of Coca Cola's Indian bottling operations, is estimated to be approximately $400 million, Coca Cola chairman Douglas Daft told investors at a meeting held in Atlanta on Tuesday.

"Based on the review, the company expects to write down the carrying value of its assets in India during the first quarter (Jan-March 2000)," he said, according to a company release.

Daft said despite the accounting write down, Coca Cola remained fully committed to the growing business in India and believed strongly in the tremendous per capita consumption growth opportunities in the country. The write down of assets would be recorded in selling, administrative and general expenses, he added. When contacted, Coca-Cola India's spokesman said of the $800 million invested in the country so far, $400 million has been written down.