Diageo, the world's leading premium drinks business, today successfully concluded the sale of its domestic whisky business to the management team lead by Mr. Deepak Roy. The major brand involved is "GILBEY'S GREEN LABEL" whisky. The Sale and Purchase Agreements, between UDVI and Triumph Distillers & Vintners Pvt Ltd ("Triumph"), a company owned by Mr. Deepak Roy, were signed in Mumbai on November 27, 2002. The divestment was conducted through an auction process by DSP Merrill Lynch, exclusive advisor to Guinness UDV. Ambit Corporate Finance Pte Ltd, Mumbai, acted as the exclusive advisor to Triumph.

Mr Deepak Roy was until recently the President - South Asia, Russia & Baltics, Guinness UDV from October 2000. He was also the Managing Director of UDV India Ltd., since August 1994. Mr Roy has been supported in his bid by a consortium of banks, financial institutions and high net worth individuals.

Gilbey's Green Label whisky sold over a million cases in the year of launch and currently sells over 2 million cases per annum. It is currently the fourth largest brand with a share of over 8% of the domestic regular whisky market.

Speaking on behalf of Diageo Plc, Mr Amar Raj Singh, Managing Director, Guinness UDV, India & South Asia commented: "The decision to sell our domestic Whisky Business is in keeping with Diageo Plc's strategic focus to market its international brands Johnnie Walker, J&B Scotch, Smirnoff vodka and others."