Further re Burberry Placing

GUS PLC
27 November 2003



   NOT FOR RELEASE OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH
                          AFRICA OR THE UNITED STATES

                                                                27 November 2003





                                    GUS plc

 Exercise of Over-Allotment Option in respect of placing of ordinary shares in
                        Burberry Group plc ('Burberry')

Further to the announcement dated 19 November 2003 of the placing ('the
Placing') of 50 million ordinary shares in Burberry by GUS plc ('GUS'), GUS is
pleased to announce that Merrill Lynch International has exercised the
over-allotment option granted to it in respect of the Placing, resulting in the
sale of an additional 7.5 million ordinary shares in Burberry by GUS. These
shares are being sold in connection with allocations of shares which have
already been made to institutional investors as part of the Placing. Following
the exercise of the over-allotment option, GUS' remaining shareholding in
Burberry is approximately 66%. GUS has agreed not to sell further shares in
Burberry for 360 days from the closing of the Placing (which was 24 November
2003).

Enquiries:

GUS                              0207 495 0070

David Tyler

Fay Dodds

Merrill Lynch International      0207 628 1000

Bob Wigley

Paul Baker

Mark Brooker

Finsbury                         0207 251 3807

Rupert Younger

Rollo Head

This announcement has been issued by GUS plc and is the sole responsibility of
GUS plc. This announcement is for information purposes only and does not
constitute an offer or an invitation to acquire or dispose of any securities.
Neither this announcement nor the information contained herein is an offer of
securities for sale in the United States or in any jurisdiction in which such an
offer is unlawful. The shares which are the subject of the Placing have not been
and will not be registered under the U.S. Securities Act of 1933, as amended
(the 'Securities Act') and may not be offered or sold within the United States
absent registration under the Securities Act or an exemption from registration.
No public offering of the shares referred to herein will be made in the United
States, the United Kingdom or elsewhere.

Merrill Lynch International and Morgan Stanley Securites Limited are acting for
GUS plc in connection with the Placing and no one else and will not be
responsible to anyone other than GUS plc for providing the protections offered
to their clients nor for providing advice in relation to the above transaction.



Stabilisation/FSA.






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