Issue of Debt - Replacement

Diageo PLC
28 March 2008


This replaces the RNS announcement issued at 07.00am GMT. The correct amount of
the bond launched is €850m.

Diageo launches and prices fixed rate Euro denominated bond

28th March 2008

Diageo plc

Diageo, the world's leading premium drinks business, yesterday launched and
priced a €850 million, fixed rate 5 year Euro denominated bond under its
European Debt Issuance Programme. The issuer of the bond is Diageo Capital B.V.,
with payment of principal and interest fully guaranteed by Diageo plc.

Due on 1st July 2013, the 5-year issue pays a coupon of 5.50%. Lehman Brothers,
Merrill Lynch and the Royal Bank of Scotland were joint book-running managers.
JP Morgan Cazenove and HSBC were co-managers. Proceeds from this issuance will
be used for general corporate purposes that may include funding for recent M&A
activity.

This press release is for information purposes only and does not constitute a
prospectus or offering memorandum or an offer to acquire any securities and is
not intended to provide the basis for any credit or any other third party
evaluation of the securities (the 'Securities') or the transaction (the '
Transaction') and should not be considered as a recommendation that any investor
should subscribe for or purchase any of the Securities.  Neither this press
release nor any other documentation or information (or any part thereof)
delivered or supplied under or in relation to the Transaction or the Securities
shall be deemed to constitute an offer of or an invitation to purchase or
subscribe the Securities.  This press release does not constitute an offer to
sell, exchange or transfer any securities and is not soliciting an offer to
purchase, exchange or transfer any securities in any jurisdiction where such
offer, sale, exchange or transfer is not permitted or is unlawful.

Any investor who subsequently acquires the Securities must rely solely on the
final prospectus to be published by the Company in connection with the
Transaction, on the basis of which alone purchases of or subscription for the
Securities may be made.

The securities have not been registered under the U.S. Securities Act of 1933,
as amended (the 'Securities Act'), and no securities shall be offered or sold in
the United States or to U.S. persons (as those terms are defined in Regulation S
under the Securities Act) unless an exemption from the registration requirements
of the Securities Act is available.

This document is for distribution in the European Economic Area only to persons
who meet the criteria of qualified investors within the meaning of the
Prospectus Directive (2003/71/EC).

-ends-


Contacts

Investor enquiries

Sarah Paul
[phone]
[e-mail]

Media enquiries

Isabelle Thomas
[phone]
[e-mail]


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