AGM Statement

Diageo PLC
22 October 2003

                                                       Embargoed until 14:30 BST

                                                                 22 October 2003

DIAGEO AGM STATEMENT: PROSPECTS FOR THE CURRENT YEAR UNCHANGED

Diageo will hold its AGM at 2.30pm today at The Queen Elizabeth ll Conference
Centre, Broad Sanctuary, Westminster, London SW1. At the meeting Paul Walsh,
Chief Executive of Diageo, will make the following comments on the current
financial year:

'Looking to the future, while the outlook for a sustained recovery of world
economies is still unclear Diageo has demonstrated its ability to generate
growth even in challenging times. In addition, signs of improvement are evident
in some markets particularly in the United States, which is now our most
important market.

Continued share gains, even in difficult markets such as those in Latin America,
provide further evidence that Diageo is well positioned to achieve superior
performance. Therefore, while recognising that we are only three months into the
current financial year, we have not seen any trends emerging which would lead us
to change our view of Diageo's future prospects.'

For the three trading days prior to the AGM and on the day of the AGM Diageo
halted the on market share repurchase programme. This policy will be followed in
future years.

                                     -ends-

Investor enquiries  Catherine James Tel: [phone]   [e-mail]

Media enquiries     Isabelle Thomas Tel: [phone]   [e-mail]

Notes to editor:

Diageo is the world's leading premium drinks business. With its global vision,
and local marketing focus, Diageo brings to consumers an outstanding collection
of beverage alcohol brands across the spirits, wine and beer categories
including Smirnoff, Guinness, Johnnie Walker, Baileys, J&B, Cuervo, Captain
Morgan and Tanqueray, and Beaulieu Vineyard and Sterling Vineyards wines. Diageo
trades in some 180 countries around the world and is listed on both the London
Stock Exchange (DGE) and the New York Stock Exchange (DEO). For more information
about Diageo, its people, brands and performance, visit us at www.diageo.com


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