Result of Placing

GUS PLC
19 November 2003

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

                                                                19 November 2003

                                    GUS plc

    Result of Placing of Ordinary Shares in Burberry Group plc ('Burberry')

Further to today's announcement of the intention to effect a placing (the
'Placing') of ordinary shares in Burberry by GUS plc ('GUS'), 50 million
ordinary shares held by GUS have been successfully placed at a price of 360p per
ordinary share following completion of an accelerated bookbuilding process. GUS
has also granted an over-allotment option to Merrill Lynch over an additional
7.5 million shares. Following the Placing, GUS will continue to hold 67.5% of
the outstanding shares of Burberry, before any exercise of the over-allotment
option.


The ordinary shares which are the subject of the Placing rank pari passu with
Burberry's existing ordinary shares of 0.05p each, including the right to
participate in all dividends and other distributions declared, paid or made
after the date of this announcement on or in respect of such ordinary shares.
Placees will be entitled to receive the interim dividend of 1.5p per ordinary
share to be paid on 4 February 2004.




Enquiries

GUS
David Tyler                        020 7495 0070
Fay Dodds

Merrill Lynch International
Bob Wigley                         020 7628 1000
Paul Baker
Mark Brooker

Finsbury
Rupert Younger                     020 7251 3801
Rollo Head

Merrill Lynch is acting as global co-ordinator and sole bookrunner to the
Placing. Morgan Stanley is co-lead manager.

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 Securities 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.


In connection with the Placing, Merrill Lynch International will act as
stabilising manager and, as such, Merrill Lynch International or any person
acting for Merrill Lynch International as stabilising manager may, in connection
with the Placing, over-allot or effect transactions with a view to supporting
the market price of the ordinary shares in Burberry at a level higher than that
which might otherwise prevail for a limited period after the Placing. However,
there will be no obligation on Merrill Lynch International or any agent of
Merrill Lynch International to do this. Such stabilising, if commenced, may be
discontinued at any time and must be brought to an end after a limited period.


                      This information is provided by RNS
            The company news service from the London Stock Exchange