NEW YORK, Nov. 7, 2004 (PRIMEZONE) -- Diageo (NYSE:DEO) has noted recent press coverage of the legal action, filed in New York, against it and other spirits companies by the Republic of Colombia and a number of its local government entities. The lawsuit alleges that these companies have violated the Federal RICO Act by facilitating money laundering in Colombia through their supposed involvement in the contraband trade to the detriment of government owned spirits production and distribution businesses. Although the lawsuit has not yet been served on Diageo, the Company has today taken the decision to issue this statement.
Through its financial statements Diageo has for some years informed its investors about a possible dispute arising in this area. Diageo will vigorously defend itself against the legal action. Diageo is very proud to responsibly market and sell its brands in Colombia - and in more than 180 other countries around the world - and Diageo adheres to the laws and regulations in the countries where our brands are sold. In fact, Diageo has worked closely with government officials in Colombia to support efforts to eliminate informal trade in that country.
About Diageo
Diageo is the world's leading premium drinks business. With its global vision and local marketing focus, Diageo brings to consumers an outstanding collection of beverage alcohol brands across the spirits, wine and beer categories including Smirnoff, Guinness, Johnnie Walker, Baileys, J&B, Jose Cuervo, Captain Morgan and Tanqueray, and Beaulieu Vineyard and Sterling Vineyards wines. Diageo trades in some 180 countries around the world and is listed on both the New York Stock Exchange (DEO) and the London Stock Exchange (DGE). For more information about Diageo, its people, brands and performance, visit us at www.diageo.com.