6/29/1999 13:10 

Carlsberg A/S and Diageo plc have today entered into an agreement under which Carlsberg will sell its shareholding of 10.53% in Grupo Cruzcampo S.A. to Diageo plc.

The agreement is conditional on the completion of the transaction between Diageo plc and Heineken Internationaal Beheer B.V. as regards the Cruzcampo brewery in Spain.

The sale will result in a considerable book profit for Carlsberg representing the difference between the price of the shares and their book value, which will be booked as income upon approval of the agreement between Diageo and Heineken by the relevant authorities.