1st Quarter Results

Unilever PLC
27 April 2001


                     UNILEVER FIRST QUARTER RESULTS 2001

                                 (Unaudited)

Continued momentum in growth of our leading brands and further progress in
operating margin produced a sound start to the year. Execution of the Path to
Growth strategy, together with the Bestfoods integration, is proceeding to
plan.

FINANCIAL HIGHLIGHTS
First Quarter 2001 Euro Millions
                                     Constant % change
Total Turnover *                       12,739    +20 %
Total Operating profit * - beia**       1,581    +34 %
Pre-tax profit                            628    (38)%       Current   % change
Net profit                                254    (61)%           244      (62)%
Net profit - beia**                       702     (4)%           684       (5)%
Per NV share (Fl. 1.12), Euro
EPS                                      0.25    (62)%          0.23      (63)%
EPS (beia)                               0.70     (4)%          0.68       (5)%
Per PLC share (1.4p), Euro cent
EPS                                      3.66    (62)%          3.51      (63)%
EPS (beia)                              10.48     (4)%         10.21       (5)%

* Includes our share of Joint Ventures

** before exceptional items and amortisation of goodwill and intangibles

KEY FEATURES

Total turnover rose more than 20% including the contribution from
acquisitions.

Sales growth of the leading brands reached an annualised 4.3%, excluding
acquisitions.

Operating profit (beia), boosted by acquisitions, was ahead by Euro404 million
and operating margin (beia) rose by 130 basis points to 12.4%.

Cash flow from operations Euro1.0 billion.

Profit before tax and earnings per share reflect planned restructuring and
acquisition related interest and goodwill amortisation.

CHAIRMEN'S COMMENT

'Path to Growth is about focussing on our leading brands and driving their
growth through innovation. It also involves steady margin expansion and
improving the overall quality of our portfolio. All these features are clearly
demonstrated in our first quarter results which represent a sound start to the
year.

As we move through 2001 earnings per share will reflect the savings flowing
from the integration of Bestfoods and from our restructuring programme. We
will also benefit from the effect of the pricing actions we have taken, the
proceeds of disposals and consequently lower interest costs.'

N W A FitzGerald     A Burgmans

Chairman, Unilever PLC      Chairman, Unilever N.V.

27th April, 2001

FIRST QUARTER FINANCIAL RESULTS (at constant rates of exchange)

Operating profit, before exceptional items and amortisation of goodwill and
intangibles (beia), increased by 34%. Operating margin (beia) increased by 130
bps to 12.4%.

Amortisation of goodwill and intangibles was Euro363 million in the quarter
with Euro296 million related to the acquisition of Bestfoods.

Net interest was Euro440 million, an increase of Euro405 million over last
year. This reflected the increased level of borrowings to fund acquisitions,
partly offset by cash flow from operations and the proceeds of our disposal
programme.

Exceptional items for the quarter were Euro156 million. Associated costs
included in operating profit (beia) were Euro70 million in the quarter.

The effective tax rate for the quarter was 51%, an increase of 19 percentage
points over the equivalent period last year. This rise results from the
non-deductability of Bestfoods goodwill amortisation. The underlying tax rate
for normal trading operations is 34%.

As a result of increases in exceptional items and goodwill amortisation, net
profit decreased by Euro395 million to Euro254 million. Before exceptional
items and goodwill amortisation, net profit declined by Euro31 million to Euro
702 million, associated costs more than offsetting the increase in
profitability.

Earnings per share fell by 62%, but before exceptional items and goodwill
amortisation the decline was only 4%.

FIRST QUARTER PERFORMANCE BY REGION (at constant rates of exchange)

The following regional commentary is based on operating profit before
exceptional items and amortisation of goodwill and intangibles.

EUROPE:      Strong performances in Foods, Personal Care and a start of
recovery in Central and Eastern Europe.

In Western Europe sales grew by 12%, with 9% due to acquisitions. The leading
brands grew by 3%. Increases in Spreads and Cooking Products were due to the
launch of pro*activ cholesterol reducing spread last year, the extension of
Bertolli spreads and the launch of Culinesse - a novel cooking margarine.
Foods growth was further boosted by the roll out of the 4 Salti in Padella
range of high quality ready meals.

In Personal Care we achieved growth of nearly 7% through the continued
development of Dove in Personal Wash and Skin Care and a strong contribution
in Oral Care from electric toothbrushes and chewing gum.

In Household Care sales growth was 8%. Successes included Domestos and Cif
easy to use wipes and Domestos Oxygel hygienic cleaner.

In Central and Eastern Europe there was excellent growth in Foods driven by a
marked increase in sales of tea and spreads in Poland and tea in Russia. There
was continued good progress in Personal Care.

NORTH AMERICA:      Sales and profits rise reflecting acquisitions and growth
in Home and Personal Care.

Overall sales grew by over 31% with a strong contribution from acquisitions.
Growth in the leading brands was 2%.

We saw good revenue growth of 4% in Home and Personal Care. Laundry moved
ahead driven by innovation in Surf Liquid and the launch of tablets. In Skin
Care growth has come through Caress Body Lotion and the further expansion of
the Dove franchise, together with the launch of easy to use face-cleansing
wipes under the Lever 2000 brand. Sales in Hair were up by nearly 10% as a
result of volume and price increases with a notable performance from the Suave
brand.

In our Foods business the most encouraging performances came from Spreads and
Cooking Products where volumes grew 5% and Ice Cream with underlying sales
growth of around 4%. However, our tea based beverages and Culinary Products
businesses have started the year slowly, although momentum picked up in March.

 AFRICA, MIDDLE EAST AND TURKEY:      Sales and profits moved ahead strongly.

Sales in the region grew by 13% and leading brands by 8%. In Foods underlying
sales growth was particularly strong in tea based beverages at 10%, driven by
Lipton Yellow Label, and in Spreads. In Personal Care there were excellent
sales performances in Skin and Oral with increases of 11% and 17%
respectively.

Notable country performances, including Ghana, Israel and Nigeria offset the
continued weakness in Turkey.

ASIA AND PACIFIC:      Continued double digit sales growth in South East Asia
and Japan.

Sales growth in the region was 8% with profits also increasing by 8% in the
quarter. The leading brands grew by 9%.

Underlying sales growth in South East Asia and Japan was over 10%, with
ready-to-drink tea a major contributor following the alliance with Suntory in
Japan. Hair and laundry in South East Asia also produced very good results.

In China there was strong volume growth in laundry due to the continued
success of Omo and in Oral through new variants of the leading Zhonghua
toothpaste. Our Hair brands encountered intense competition from both
international and local players and this has slowed growth overall.

In India we recorded good sales growth in laundry and Household Care, partly
offset by a decline in Personal Wash and Hair. We are making progress in
meeting local low price competition in these sectors. Sales in India fell due
to the exit from non-profitable tail businesses.

LATIN AMERICA:      Continued recovery led by Home and Personal Care.

Underlying sales growth was 7% with leading brands growing by 10% against a
background of some improvement in market conditions. Profits also moved
strongly ahead reflecting firmer prices, the benefits of restructuring
programmes and acquisitions.

Volumes in Laundry were up by nearly 3% with Brazil and Argentina major
contributors. Personal Care also saw good growth where the launch of Sedal in
Mexico produced promising initial results.

In Foods we saw further recovery in our business with notably good results in
ice cream in Brazil and Mexico and a further recovery in culinary sales.

CASH FLOW / BALANCE SHEET

Cash flow from operations of Euro1.0 billion was marginally higher than the
corresponding period in 2000. This reflects the contribution from
acquisitions, offset by higher seasonal working capital outflows.

Returns on investments and servicing of finance reflect higher interest costs
as a result of the funding of acquisitions.

Capital expenditure and financial investment is higher due to the purchase of
shares to cover share option obligations. This expenditure was incurred in the
second quarter last year.

Net debt was also impacted by the currency retranslation on dollar denominated
debt increasing net debt reported in euros by nearly Euro1.0 billion.

Capital and reserves decreased by Euro0.7 billion reflecting profits for the
period offset by negative currency retranslation and the purchase of shares to
cover share option obligations.

------------------------------------------------------------------------------

EURO REPORTING

Information in sterling and US dollars is available as a supplement to this
Euro report.

CONSOLIDATED PROFIT AND LOSS ACCOUNT - CONSTANT EXCHANGE RATES (unaudited)

In the profit and loss account given below, the results in both years have
been translated at constant exchange rates, being the annual average exchange
rates for 2000. This reporting convention facilitates comparisons since the
impact of exchange rate fluctuations is eliminated.

 Euro Millions - constant                                        First Quarter
                                                              2001    2000     %
                                                                           Incr.
                                                                              /

                                                                         (Decr.)
 TOTAL TURNOVER                                              12,739 10,590  20 %
 Less: Share of turnover of joint ventures                     (156)   (71)
 GROUP TURNOVER                                              12,583 10,519  20 %
 GROUP OPERATING PROFIT                                       1,045  1,038   1 %
 Group operating profit beia *                                1,555  1,165  33 %
 Exceptional items                                             (156)  (118)
 Amortisation of goodwill and intangibles                      (354)    (9)
 Add: Share of operating profit of joint ventures                17     12
 TOTAL OPERATING PROFIT                                       1,062  1,050   1 %
 Total operating profit beia *                                1,581  1,177  34 %
 Exceptional items                                             (156)  (118)
 Amortisation of goodwill and intangibles                      (363)    (9)
 Other income from fixed investments                              6      1
 Interest                                                      (440)   (35)
 PROFIT BEFORE TAXATION                                         628  1,016 (38)%
 Taxation                                                      (320)  (323)
 PROFIT AFTER TAXATION                                          308    693 (56)%
 Minority Interests                                             (54)   (44)
 NET PROFIT AT CONSTANT 2000 EXCHANGE RATES                     254    649 (61)%
 Net Profit - before exceptional items & amortisation of        702    733  (4)%
 goodwill and intangibles (Constant rates)
 NET PROFIT AT EXCHANGE RATES CURRENT IN EACH PERIOD            244    643 (62)%
 Net Profit - before exceptional items & amortisation of        684    723  (5)%
 goodwill and intangibles (Current rates)
 COMBINED EARNINGS PER SHARE (Current rates)
 - per Fl. 1.12 ordinary share (Euros)                          0.23 0.64 (63)%
 - per Fl. 1.12 ordinary share - diluted (Euros)                0.23 0.62 (63)%
 - per 1.4p ordinary share (Euro cents)                         3.51 9.58 (63)%
 - per 1.4p ordinary share - diluted (Euro cents)               3.42 9.34 (63)%

* beia means before exceptional items and amortisation of goodwill and
intangibles.

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES (unaudited)
Euro Millions                                                  First Quarter
                                                                  2001    2000
Net profit                                                         244     643
Currency retranslation                                           (663)     201
Total recognised gains / (losses) since last annual accounts     (419)     844

SUMMARY BALANCE SHEET (unaudited)
Euro Millions
                                         As at 31st March   As at 31st December
                                                     2001                  2000
Goodwill and intangible assets                     26,931                26,467
Acquired businesses held for resale                 1,781                 1,666
Fixed assets                                       10,731                10,996
Stocks                                              5,781                 5,421
Debtors                                            10,418                 9,817
Cash and current investments                        1,813                 3,273
Trade & other creditors                          (12,995)              (12,708)
                                                   44,460                44,932
Borrowings                                         29,620                29,741
Provisions for liabilities and charges              6,722                 6,404
Minority interests                                    671                   618
Capital and reserves                                7,447                 8,169
                                                   44,460                44,932

CASH FLOW STATEMENT (unaudited)
Euro Millions                                                     First Quarter
                                                                     2001  2000
Cash flow from operating activities                                 1,027   991
Dividends from joint ventures                                           1     3
Returns on investments and servicing of finance                     (274)  (60)
Taxation                                                            (285) (222)
Capital expenditure and financial investment                        (440) (283)
Acquisitions and disposals                                            172 (337)
Dividends paid on ordinary share capital                                -     -
CASH INFLOW / (OUTFLOW) BEFORE MANAGEMENT OF LIQUID RESOURCES AND     201    92
FINANCING
Management of liquid resources                                      1,135  (60)
Financing                                                         (1,609)   159
INCREASE / (DECREASE) IN CASH IN THE PERIOD                         (273)   191

RECONCILIATION OF CASH FLOW TO MOVEMENT IN NET FUNDS / (DEBT)
NET FUNDS / (DEBT) AT 1 JANUARY                               (26,468)      684
INCREASE / (DECREASE) IN CASH IN THE PERIOD                      (273)      191
Cash flow from (increase)/decrease in borrowings                 1,604    (165)
Cash flow from increase/(decrease) in liquid resources         (1,135)       60
Change in net funds resulting from cash flows                      196       86
Borrowings within group companies acquired                           -        -
Borrowings within group companies sold                               1        -
Liquid resources within group companies acquired                     -        -
Liquid resources within group companies sold                         -        -
Non cash movements                                               (554)       25
Currency retranslation                                           (982)    (135)
MOVEMENT IN NET FUNDS / (DEBT) IN THE PERIOD                   (1,339)     (24)
NET FUNDS / (DEBT) AT PERIOD END                              (27,807)      660

GEOGRAPHICAL ANALYSIS
 Euro Millions                                                   First Quarter
                                                                              %
                                                                          Incr.
                                                              2001   2000     /

                                                                         (Decr.)
 TOTAL TURNOVER                                             12,739 10,590  20 %
 Europe                                                      4,791  4,219  14 %
 North America                                               3,266  2,490  31 %
 Africa, Middle East and Turkey                                855    757  13 %
 Asia and Pacific                                            2,062  1,912   8 %
 Latin America                                               1,765  1,212  46 %
 TOTAL OPERATING PROFIT - before exceptional items and       1,581  1,177  34 %
 amortisation of goodwill and intangibles
 Europe                                                        607    505  20 %
 North America                                                 361    226  60 %
 Africa, Middle East and Turkey                                 84     53  56 %
 Asia and Pacific                                              283    263   8 %
 Latin America                                                 246    130  89 %
 TOTAL OPERATING MARGIN - before exceptional items and       12.4%  11.1%
 amortisation of goodwill and intangibles
 Europe                                                      12.7%  12.0%
 North America                                               11.1%   9.1%
 Africa, Middle East and Turkey                               9.8%   7.1%
 Asia and Pacific                                            13.8%  13.7%
 Latin America                                               13.9%  10.7%

OPERATIONAL ANALYSIS
      Euro Millions                                             First Quarter
                                                                              %
                                                                          Incr.
                                                                              /
                                                               2001  2000
                                                                         (Decr.)

      TOTAL TURNOVER                                          12,739 10,590 20 %
      Foods                                                    6,962 5,031  38 %
      Oil and dairy based foods and bakery                     2,128 1,739  22 %
      Ice cream and beverages                                  1,667 1,567   6 %
      Culinary and frozen products                             3,167 1,725  84 %
      Home Care and Professional Cleaning                      2,682 2,453   9 %
      Personal Care                                            2,946 2,902   2 %
      Other Operations                                           149   204 (27)%
      TOTAL OPERATING PROFIT - before exceptional items and    1,581 1,177  34 %
      amortisation of goodwill and intangibles
      Foods                                                      795   433  83 %
      Oil and dairy based foods and bakery                       295   210  40 %
      Ice cream and beverages                                     91    74  22 %
      Culinary and frozen products                               409   149 176 %
      Home Care and Professional Cleaning                        248   249  (1)%
      Personal Care                                              528   490   8 %
      Other Operations                                            10     5 112 %
      TOTAL OPERATING MARGIN - before exceptional items and    12.4% 11.1%
      amortisation of goodwill and intangibles
      Foods                                                    11.4%  8.6%
      Oil and dairy based foods and bakery                     13.9% 12.1%
      Ice cream and beverages                                   5.4%  4.8%
      Culinary and frozen products                             12.9%  8.6%
      Home Care and Professional Cleaning                       9.2% 10.2%
      Personal Care                                            17.9% 16.9%
      Other Operations                                          6.9%  2.4%

NOTES

Acquisitions

In the first three months of 2001 there were no acquisitions.

Exchange Rates

The results for 2001 and the comparative figures for 2000 have been translated
at constant average rates of exchange, being the annual average rates for
2000. For our reporting currencies these were Euro1 = £0.61 = US $0.92. In
addition, the results, earnings per share and cash flow statement have been
translated at rates current in each period. These are based on

Euro1 = £0.63 = US $0.92 for first quarter 2001 and Euro1 = £0.61 = US $0.98
for first quarter 2000.

The balance sheet figures have been translated at period-end rates of
exchange. For our reporting currencies these were

Euro1 = £0.62 = US $0.88 (31 December 2000: Euro1 = £0.62 = US $0.93).

Acquired businesses held for resale

A number of Bestfoods businesses are expected to be sold within a year from
their purchase. The assets and liabilities of those businesses, after
adjustment to their estimated net proceeds of sale, have been included within
'Acquired businesses held for resale'. The results of these businesses for the
period are not included in the Profit & Loss Account.

Reporting of total turnover and total operating profit

Following the acquisition of Bestfoods, Unilever now participates in a
significant number of joint ventures. Financial Reporting Standard 9 requires
the turnover and operating profit of joint ventures to be disclosed in
addition to the Group Turnover and Operating Profit. In order to accommodate
this we have had to introduce new terminology, Total Turnover and Total
Operating Profit. The term 'Total' means Group (turnover and operating profit)
plus our share of the joint venture (turnover and operating profit) net of our
share of any sales to the joint ventures already included in the Group
figures.

Combined earnings per share

The combined earnings per share calculations are based on the average number
of share units representing the combined ordinary shares of NV and PLC in
issue during the period, less the average number of shares held to meet
options granted under various employee share plans.

The number of combined share units is calculated from the underlying NV and
PLC shares using the exchange rate of

£1 = Fl. 12, in accordance with the Equalisation Agreement.

The diluted earnings per share are based on the average number of share units,
plus all shares under option, together with certain PLC shares which may be
issued in 2038 under the arrangements for the variation of the Leverhulme
Trust. The number of shares is reduced, in accordance with FRS 14, by the
number of shares that could be purchased at fair value with the expected
proceeds from the exercise of options by employees.

Earnings per share in Euro
                                                Constant rates   Current rates
                                              2001      2000      2001      2000
                                                      Thousands of units
Average number of combined share units 
of Fl.                                     985,879   991,634   985,879   991,634
1.12
Average number of combined share units 
of 1.4p                                  6,572,526 6,610,896 6,572,526 6,610,896
COMBINED EPS
Net profit                                     254       649       244       643
Less: Preference dividends                      13         9        13         9
Net profit attributable to ordinary 
capital                                        241       640       231       634
Combined EPS per Fl. 1.12 (Euros)             0.25      0.65      0.23      0.64
Combined EPS per 1.4p (Euro cents)            3.66      9.68      3.51      9.58
COMBINED EPS - BEIA
Net profit                                     254       649       244       643
Add back exceptional items net of tax           97        76        95        73
Add back amortisation of goodwill / 
intangibles                                    351         8       345         7
net of tax
Net profit beia                                702       733       684       723
Less: Preference dividends                      13         9        13         9
Net profit attributable to ordinary 
capital -                                      689       724       671       714
beia
Combined EPS beia per Fl. 1.12 (Euros)        0.70      0.73      0.68      0.72
Combined EPS beia per 1.4p (Euro cents)      10.48     10.95     10.21     10.80
COMBINED EPS - Diluted
                                                      Thousands of units
Adjusted average combined share units 
of Fl.                                   1,012,564 1,016,773 1,012,564 1,016,773
1.12
Adjusted average combined share units 
of 1.4p                                  6,750,429 6,778,789 6,750,429 6,778,789
Net profit attributable to ordinary 
capital                                        241       640       231       634
Combined diluted EPS per Fl. 1.12 
(Euros)                                       0.24      0.63      0.23      0.62
Combined diluted EPS per 1.4p (Euro cents)    3.57      9.44      3.42      9.34

Dates

The results for the second quarter and first half-year of 2001 will be
announced on Friday 3rd August, 2001.

Salient figures for the above results will be published in the Financial Times
and Daily Telegraph on Saturday 28th April 2001.

27th April, 2001



Email: [e-mail]

Internet: http://www.unilever.com

CONSOLIDATED PROFIT AND LOSS ACCOUNT - CONSTANT EXCHANGE RATES (unaudited)

In the profit and loss account given below, the results in both years have
been translated at constant exchange rates, being the annual average exchange
rates for 2000. This reporting convention facilitates comparisons since the
impact of exchange rate fluctuations is eliminated.
 £ Millions - constant                                           First Quarter
                                                                2001  2000     %
                                                                          Incr.
                                                                              /

                                                                         (Decr.)
 TOTAL TURNOVER                                                7,754 6,446  20 %
 Less: Share of turnover of joint ventures                       (95)  (43)
 GROUP TURNOVER                                                7,659 6,403  20 %
 GROUP OPERATING PROFIT                                          636   631   1 %
 Group operating profit beia *                                   946   709  33 %
 Exceptional items                                               (95)  (72)
 Amortisation of goodwill and intangibles                       (215)   (6)
 Add: Share of operating profit of joint ventures                 11     8
 TOTAL OPERATING PROFIT                                          647   639   1 %
 Total operating profit beia *                                   963   717  34 %
 Exceptional items                                              (95)  (72)
 Amortisation of goodwill and intangibles                       (221)   (6)
 Other income from fixed investments                               3     -
 Interest                                                       (268)  (21)
 PROFIT BEFORE TAXATION                                          382   618 (38)%
 Taxation                                                       (195) (196)
 PROFIT AFTER TAXATION                                           187  422 (56)%
 Minority Interests                                             (33) (27)
 NET PROFIT AT CONSTANT 2000 EXCHANGE RATES                      154  395 (61)%
 Net Profit - before exceptional items & amortisation of         427  446  (4)%
 goodwill and intangibles (Constant rates)
 NET PROFIT AT EXCHANGE RATES CURRENT IN EACH PERIOD             154  394 (61)%
 Net Profit - before exceptional items & amortisation of         432  443  (2)%
 goodwill and intangibles (Current rates)
 COMBINED EARNINGS PER SHARE (Current rates)
 - per 1.40p ordinary share (pence)                             2.22 5.87 (62)%
 - per 1.40p ordinary share - diluted (pence)                   2.16 5.73 (62)%

* beia means before exceptional items and amortisation of goodwill and
intangibles.

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES (unaudited)
£ Millions                                                      First Quarter
                                                                  2001    2000
Net profit                                                         154     394
Currency retranslation                                           (452)    (44)
Total recognised gains / (losses) since last annual accounts     (298)     350

SUMMARY BALANCE SHEET (unaudited)
£ Millions
                                         As at 31st March   As at 31st December
                                                     2001                  2000
Goodwill and intangible assets                     16,654                16,508
Acquired businesses held for resale                 1,101                 1,039
Fixed assets                                        6,636                 6,858
Stocks                                              3,575                 3,381
Debtors                                             6,443                 6,123
Cash and current investments                        1,121                 2,042
Trade & other creditors                           (8,036)               (7,926)
                                                   27,494                28,025
Borrowings                                         18,317                18,549
Provisions for liabilities and charges              4,157                 3,995
Minority interests                                    415                   386
Capital and reserves                                4,605                 5,095
                                                   27,494                28,025

CASH FLOW STATEMENT (unaudited)
£ Millions                                                        First Quarter
                                                                     2001  2000
Cash flow from operating activities                                   648   609
Dividends from joint ventures                                           1     2
Returns on investments and servicing of finance                     (173)  (38)
Taxation                                                            (180) (136)
Capital expenditure and financial investment                        (278) (173)
Acquisitions and disposals                                            109 (207)
Dividends paid on ordinary share capital                                -     -
CASH INFLOW / (OUTFLOW) BEFORE MANAGEMENT OF LIQUID RESOURCES AND     127    57
FINANCING
Management of liquid resources                                        717  (36)
Financing                                                         (1,018)    97
INCREASE / (DECREASE) IN CASH IN THE PERIOD                         (174)   118

RECONCILIATION OF CASH FLOW TO MOVEMENT IN NET FUNDS / (DEBT)
NET FUNDS / (DEBT) AT 1 JANUARY                                (16,507)     425
INCREASE / (DECREASE) IN CASH IN THE PERIOD                       (174)     118
Cash flow from (increase)/decrease in borrowings                  1,014   (101)
Cash flow from increase/(decrease) in liquid resources            (717)      36
Change in net funds resulting from cash flows                       123      53
Borrowings within group companies acquired                            -       -
Borrowings within group companies sold                                1       -
Liquid resources within group companies acquired                      -       -
Liquid resources within group companies sold                          -       -
Non cash movements                                                (350)      15
Currency retranslation                                            (463)    (98)
MOVEMENT IN NET FUNDS / (DEBT) IN THE PERIOD                      (689)    (30)
NET FUNDS / (DEBT) AT PERIOD END                               (17,196)     395

GEOGRAPHICAL ANALYSIS
 £ Millions                                                      First Quarter
                                                                              %
                                                                          Incr.
                                                                2001 2000     /

                                                                         (Decr.)
 TOTAL TURNOVER                                                7,754 6,446  20 %
 Europe                                                        2,916 2,568  14 %
 North America                                                 1,988 1,516  31 %
 Africa, Middle East and Turkey                                  521   461  13 %
 Asia and Pacific                                              1,255 1,164   8 %
 Latin America                                                 1,074   737  46 %
 TOTAL OPERATING PROFIT - before exceptional items and           963   717  34 %
 amortisation of goodwill and intangibles
 Europe                                                          370   307  20 %
 North America                                                   220   138  60 %
 Africa, Middle East and Turkey                                   51    33  56 %
 Asia and Pacific                                                173   160   8 %
 Latin America                                                   149    79  89 %
 TOTAL OPERATING MARGIN - before exceptional items and          12.4% 11.1%
 amortisation of goodwill and intangibles
 Europe                                                         12.7% 12.0%
 North America                                                  11.1%  9.1%
 Africa, Middle East and Turkey                                  9.8%  7.1%
 Asia and Pacific                                               13.8% 13.7%
 Latin America                                                  13.9% 10.7%

OPERATIONAL ANALYSIS
      £ Millions                                                First Quarter
                                                                              %
                                                                          Incr.
                                                                              /
                                                               2001  2000
                                                                         (Decr.)

      TOTAL TURNOVER                                          7,754 6,446  20 %
      Foods                                                   4,238 3,063  38 %
      Oil and dairy based foods and bakery                    1,296 1,059  22 %
      Ice cream and beverages                                 1,014   954   6 %
      Culinary and frozen products                            1,928 1,050  84 %
      Home Care and Professional Cleaning                     1,632 1,493   9 %
      Personal Care                                           1,793 1,766   2 %
      Other Operations                                           91   124 (27)%
      TOTAL OPERATING PROFIT - before exceptional items and     963   717  34 %
      amortisation of goodwill and intangibles
      Foods                                                     484   264  83 %
      Oil and dairy based foods and bakery                      180   129  40 %
      Ice cream and beverages                                    55    45  22 %
      Culinary and frozen products                              249    90 176 %
      Home Care and Professional Cleaning                       151   152  (1)%
      Personal Care                                             322   298   8 %
      Other Operations                                            6     3 112 %
      TOTAL OPERATING MARGIN - before exceptional items and   12.4% 11.1%
      amortisation of goodwill and intangibles
      Foods                                                   11.4%  8.6%
      Oil and dairy based foods and bakery                    13.9% 12.1%
      Ice cream and beverages                                  5.4%  4.8%
      Culinary and frozen products                            12.9%  8.6%
      Home Care and Professional Cleaning                      9.2% 10.2%
      Personal Care                                           17.9% 16.9%
      Other Operations                                         6.9%  2.4%

Earnings per share in sterling
                                                Constant rates   Current rates
                                              2001      2000      2001      2000
                                                      Thousands of units
Average number of combined share units of 
1.4p                                     6,572,526 6,610,896 6,572,526 6,610,896
COMBINED EPS
Net profit                                     154       395       154       394
Less: Preference dividends                       8         6         8         6
Net profit attributable to ordinary capital    146       389       146       388
Combined EPS per 1.4p                        2.23p     5.89p     2.22p     5.87p
COMBINED EPS - BEIA
Net profit                                     154       395       154       394
Add back exceptional items net of tax           59        46        60        45
Add back amortisation of goodwill / 
intangibles                                    214         6       218         5
net of tax
Net profit beia                                427       447       432       444
Less: Preference dividends                       8         6         8         6
Net profit attributable to ordinary 
capital -                                      419       441       424       438
beia
Combined EPS beia per 1.4p                   6.38p     6.67p     6.46p     6.62p
COMBINED EPS - Diluted
                                                      Thousands of units
Adjusted average combined share units 
of 1.4p                                  6,750,429 6,778,789 6,750,429 6,778,789
Net profit attributable to ordinary 
capital                                        146       389       146       388
Combined diluted EPS per 1.4p                2.17p     5.75p     2.16p     5.73p