A study investigated the effects of the newly introduced Surgeon General's alcohol warnings and advertisements on college students. One hundred fifty-nine undergraduates in communication sciences at the University of Connecticut viewed slides of alcohol products, with or without advertisements and warnings. Following the viewings, subjects filled out questionnaires on product evaluation and on alcohol consumption and risk. Results indicated that the alcohol warnings boomeranged, causing drinkers to perceive greater benefits from the alcoholic beverages. Results also indicated that the advertisements had powerful effects on both drinkers and non-drinkers, increasing perceptions of benefits and decreasing perceptions of risks. Results suggest that, for young people, the warning labels in their present form may be counterproductive, and that advertisements make drinking more attractive. (Two tables of data are included; 46 references are attached.) (Author/PRA)