Diageo 2003 US GAAP financial

Diageo PLC
04 February 2004

                                                                 4 February 2004





Diageo 2003 US GAAP financial information

Diageo has today filed with the SEC an amendment to the US GAAP financial
information included in Diageo's 2003 Annual Report on Form 20-F. The amendment
relates to the US GAAP treatment of deferred tax associated with pension
liabilities.

The amendment results in a deferred tax charge of £53 million being reclassified
from other comprehensive deficit to net income and a reversal of deferred tax of
£118 million previously charged to other comprehensive deficit. The overall
effect is therefore a reduction of £53 million in net income as reported under
US GAAP, a reduction in the comprehensive deficit of £118 million and an
increase in shareholders equity of £118 million.

The amendment does not affect Diageo's principal financial information prepared
under UK GAAP nor does it affect operating income or cash flow under US GAAP.





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