BUSINESS MEMO: COLA BATTLES

Coca-Cola and Pepsi-Cola are battling for contracts to be the exclusive soft drink supplier at many colleges. At stake are millions of dollars for the colleges and further exposure to young adults for the soda companies.

The largest consumers of carbonated soft drinks are kids in their teens, says Scott Jacobson, a Coke spokesman in Atlanta.

Penn State University, with 23 campuses and 77,000 students, was the first school to sign an exclusive contract. It solicited offers from Coke and Pepsi and inked a 10-year, $14 million deal with Pepsi in May 1992.