UK: Diageo puts in place programme to enable the buy back of shares in forthcoming closed period

Diageo plc announced on December 29, that it has put in place an irrevocable, non-discretionary programme to allow the company to buy back shares during the closed period which precedes the interim results announcement on 15 February 2007.

The buy back programme during the closed period will be managed by an independent third party, which will make its trading decisions in relation to the company's securities independently of, and uninfluenced by, the company.

Share buy backs will be accomplished during the period between 2 January 2007 and 15 February 2007 within pre-set parameters. The buy backs will be in accordance with Diageo's general authority to repurchase shares and in accordance with Chapter 12 of the Listing Rules. Consequently the maximum price paid will be limited to no more than 105 per cent of the average middle market quotations of Diageo shares for the 5 dealing days preceding the date of purchase. The shares repurchased will be cancelled on a daily basis.

In announcing this Diageo confirms that currently it has no inside information. Diageo will announce interim results for the six months ending 31 December 2006 on 15 February 2007.

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