RNS Number:4890M
Diageo PLC
1 November 2001

                                                               1 November 2001


          DIAGEO EXERCISES OPTION TO SELL BACK 55 MILLION SHARES TO
                                GENERAL MILLS


Under the terms of the agreement relating to General Mills' acquisition of
Diageo's worldwide Pillsbury operations, issued yesterday, 31 October 2001,
Diageo has exercised its option to sell 55 million General Mills shares
directly to the company.

The option was exercised at a price of $42.14 per share which represents a 6%
discount to the closing price on Friday 26 October 2001.

                                  -- ends --


Media enquiries to:     Kathryn Partridge     +00 44 (0) 20 7927 5225/5967
                                              Media@diageo.com

Investor enquiries to:  Catherine James       +00 44 (0) 20 7927 5272
                                              Investor.rel@diageo.com
                        Kelly Padgett         +00 (1) 202 715 1110
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