Diageo & Pernod Ricard

Diageo PLC
6 December 2000

Diageo plc and Pernod Ricard SA confirm that they have signed a formal
agreement governing their bidding arrangements for the Seagram Spirits & Wine
business.  

The agreement also covers the brand integration process and management team
which will co-ordinate it.  

Both companies are bound by confidentiality agreements and cannot comment
further on this announcement.