Final Results

Unilever PLC
10 February 2005





                     FOURTH QUARTER AND ANNUAL RESULTS 2004
   (Unaudited and provisional, at constant 2003 average exchange rates unless
                                    stated)

The business developed to plan in the fourth quarter. Full year EPS beia grew by
5%. Changes in organisation and increased market competitiveness are directed at
restoring sustainable top line growth.

FINANCIAL HIGHLIGHTS


€ Millions
                  Constant 2003 average exchange rates                      Current exchange rates
   Fourth Quarter 2004                                   Full Year 2004           Full Year 2004
   10,759     + 1 % Turnover                           42,023      - 2 %        40,366     - 6 %
    1,470    - 16 % Operating profit - beia*            6,386      - 6 %         6,138     - 9 %
    (519)   - 143 % Pre-tax profit/(loss)               2,900     - 36 %         2,839    - 37 %
    (283)   - 139 % Net profit/(loss)                   1,900     - 31 %         1,876    - 32 %
    1,016     - 1 % Net profit - beia*                  4,090      + 4 %         3,969     + 1 %

     1.05     - 1 % EPS NV - beia * (Euros)              4.22      + 5 %          4.09     + 2 %
    15.75     - 1 % EPS PLC - beia * (Euro cents)       63.25      + 5 %         61.37     + 2 %

* Before exceptional items and amortisation of goodwill and intangibles

KEY FEATURES

FOURTH QUARTER

•         Underlying sales grew by 3.2%, and leading brands by 3.7%, including
the benefit of two additional days.

•         Operating margin (beia) was 270 basis points lower including
increased investment in market competitiveness and high commodity costs in the
quarter.

•         Exceptional items of €1.5 billion include planned step-up in
restructuring and an impairment charge for Slim•Fast goodwill.

FULL YEAR 2004

•         Underlying sales grew by 0.4% and leading brands by 0.9%. Sales
declined in Western Europe with share losses in some categories in weaker
markets. In Asia, it was a year of intense competition.

•         Operating margin (beia) was 60 bps lower. EPS beia grew 5%, boosted
by lower tax and financing costs.

•         Strong cash generation and currency movements have reduced net debt
to €9.7 billion at year-end exchange rates, down by €2.9 billion over the year.

•         Proposed final dividend of €1.26 per NV ordinary share and 12.82p
per PLC ordinary share, increases the total dividend per share by 9% for NV and
by 6% for PLC.

ORGANISATION CHANGES

•         Dual chairman structure to be replaced by single CEO and
non-executive Chairman.

•         Simplification of management structure with fewer layers and greater
consumer and customer focus.

•         Corporate structure to be reviewed.

CHAIRMEN'S COMMENT & OUTLOOK

The 'Path to Growth' transformation programme undertaken over the past five
years has produced a stronger portfolio. We have powerful geographic and
category positions, a much more focused stable of brands and a greatly improved
cost and capital base. However, initial market share gains for the business as a
whole in the early years of the programme have not been sustained. While it is
certainly the case that markets have been tougher in the past eighteen months
than we had expected, we have also lost some share during that time.

There are two fundamental reasons for the recent poor top line performance.
Firstly, we let a range of targets limit our flexibility and did not adjust our
plans quickly enough to a more difficult business environment. Secondly, we took
our eye off our competitiveness and our execution could have been sharper.

In a separate announcement this morning we explained important changes we are
making to the Unilever organisational structure. These changes will
significantly simplify the organisation, speed-up decision making and ensure
clear focus and accountability for the execution of our strategic agenda. At the
same time we explained that the Corporate structure will be reviewed and that
this review is independent of the organisational changes being made.
We are determined to restore sustainable, profitable, growth and the changes in
organisation will re-inforce the actions taken to improve market
competitiveness. The fourth quarter results include an increased level of
support, targeted pricing action and the first stage in the implementation of
the simplification programme announced in mid 2004.

OUTLOOK TO 2010

The Vitality mission set out in 2004 guides the strategic agenda over the coming
years. Our over-arching financial ambition of top third Total Shareholder Return
over time is reconfirmed. We have reviewed our target for ungeared free cash
flow in the light of market conditions and concluded that it is now prudent to
assume between €25 and €30 billion over the next 6 years, while aiming for the
top end of this range. At the same time we expect a significant improvement in
return on invested capital.

OUTLOOK FOR 2005

The number one priority is to restore sustainable top line growth. The step up
in market competitiveness begun in the fourth quarter of 2004 will be sustained
and carefully targeted at specific categories and regions. In addition our plans
are based on a sharpening of innovation, better portfolio management of brands
to drive categories and winning with customers by further improving the way we
go to market. Productivity gains will be accelerated through the implementation
of the simplification programme. Net restructuring costs in the year are
expected to be within the ongoing range of 0.5% to 1% of sales and will be
treated as non-exceptional, as previously indicated. We anticipate an easing of
some commodity cost pressures through the year.

RETURN OF CASH TO SHAREHOLDERS

The continued strong cash flow in 2004, together with the effect of the weaker
US dollar, has brought net debt at year-end closing rates to below €10 billion.
Following the conversion of the €0.05 preference shares separately announced
this morning, we will buy in shares to replenish the stock used for the
conversion. Having done this, we expect to use surplus cash generation to start
a share buy-back programme. Barring sharp changes in exchange rates, we expect
to initiate this in 2005 with an amount of up to €500 million.


                 Antony Burgmans                Patrick Cescau

                              Chairmen of Unilever

10 February 2005



FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS (at constant exchange rates)

Notes:

The following commentary is based on operating profit before exceptional items
and amortisation of goodwill and intangible assets. Sales growth is stated on an
underlying basis, excluding the effects of acquisitions and disposals. Turnover
includes the impact of acquisitions and disposals.

Unilever uses 'constant rate', 'underlying' and 'beia' measures primarily for
internal performance analysis and targeting purposes. Unilever believes that the
use of such measures provides additional information for shareholders on
underlying business performance trends. Such measures are not defined under UK,
Netherlands or US GAAP and are not intended to be a substitute for GAAP measures
of turnover and profit. Fuller definitions and reconciliations between such
measures and the equivalent GAAP measures are available on our website:
www.unilever.com.

Underlying sales grew by 3.2% in the quarter and by 0.4% in the year. The growth
for the quarter included the benefit of two additional trading days compared
with the same period last year. After the impact of disposals, turnover
increased by 0.6% in the quarter and declined by 2.1% for the year.

Operating margin (beia) was 270 bps lower than last year for the quarter with
advertising and promotions up by 130 basis points. Margin in the quarter was
also reduced by the actions taken to improve price competitiveness, particularly
high commodity costs in the quarter and by the net impact of a number of one-off
items. These included asset write-offs and disposals which were not part of the
Path to Growth programme and thus have not been taken as exceptional items.

For the full year, operating margin (beia) was 60 bps lower than last year. This
reflects a decline in price, slightly higher advertising and promotion
expenditure and unrecovered overheads following disposals. The impact of
increased commodity costs in the year was fully offset by procurement savings.

Net borrowing costs were reduced by 18% in the quarter and by 19% in the year
with both net debt and interest rates lower than last year. The financing costs
of pensions were also lower.

The fourth quarter saw the planned step-up in restructuring costs with the start
of the implementation of the overheads simplification project, announced in mid
2004. This first phase of the project is within the original scope of Path to
Growth and marks an end to the Path to Growth restructuring costs. In total,
exceptional restructuring costs were €597 million in the quarter, compared with
€195 million in the fourth quarter of the previous year and €884 million in the
year compared with €470 million in 2003.

Exceptional losses arising from business disposals including asset write-downs
were €113 million in the quarter compared with a profit of €172 million in the
fourth quarter of the previous year with a profit of €39 million in the year
compared with €370 million in 2003.

In the fourth quarter a charge of €650 million was taken for the impairment of
goodwill for Slim•Fast. The turnaround plan is being executed well, including
the launch of new Slim•Fast Optima and market shares have been stabilised with
modest increases. However the weight management category has declined
significantly in the second half of 2004 reflecting declining interest in the
more extreme low carb diets. Consumers have not yet been attracted back to the
Slim•Fast meal replacement plan. While the brand is expected to contribute to
future growth, recovery will take longer than expected and we have a
substantially smaller base from which to grow.

There is an additional €177 million charge in the fourth quarter, relating to
the potential repayment of certain sales tax credits taken over the past five
years in Brazil. The charge arises from an announced Brazilian supreme court
review of precedents that had been set in favour of taxpayers. We believe it is
appropriate to make a provision now but will defend our position vigorously.
Total exceptional items were thus €1,537 million in the quarter compared with
€23 million in the fourth quarter of the previous year and €1,672 million in the
year compared with €100 million in 2003.

The tax rate (beia) has reduced steadily over the past five years and was 25% in
2004, compared with 29% in the previous year. This included, in the fourth
quarter, the impact of a reduction in the future tax rate in the Netherlands and
the resolution of a number of outstanding tax matters in various countries.

Earnings per share (beia) were 1% lower in the quarter but grew by 5% for the
year as a whole.

When expressed at current rates of exchange, earnings per share (beia) for the
quarter were lower by 4% in Euros. For the full year on this basis, earnings per
share (beia) were higher by 2% in Euros, but flat when measured in
£ Sterling and higher by 12% when measured in US $. Turnover expressed at
current rates of exchange was lower by 2% in the quarter in Euros, while for the
full year it was lower by 6% in Euros, lower by 8% in £ Sterling and higher by
3% in US $.


FULL YEAR SALES PERFORMANCE (at constant exchange rates)

Overall performance in 2004 was unsatisfactory.

In Western Europe, trading conditions were difficult due to the continuing
growth of hard discounters and the responses of traditional retailers, looking
to compete through value on both branded and private label products. In addition
ice cream and ready-to-drink tea suffered from a poorer summer than the
exceptional one in 2003. Our business in Central and Eastern Europe grew by over
5%, however underlying sales in Europe as a whole declined by 2.8%.

North America grew by 1.5%, despite disappointing sales in Slim•Fast. There was
good growth in the rest of the Foods business but some share loss in Home and
Personal Care in weak markets.

Growth in Asia was only 1.4% as some of our leadership positions came under
competitive attack. We are defending these robustly. Latin America had another
strong year with underlying sales ahead by 7.2%, while growth in Africa, the
Middle East and Turkey was more modest at 3.1%.

Vitality has been at the heart of our Foods innovation programme which drove
good growth in Knorr and Hellmann's and in spreads brands in the second half of
the year. By contrast, the overall performance in beverages and in ice cream and
frozen foods was disappointing.

In Home and Personal Care, a sharp slowdown in market growth and a significant
rise in the level and intensity of competitive activity put pressure on the
business. This reduced growth in personal care, and in home care volume growth
was fully offset by price declines.

Through 2005 we are determined to regain market share and momentum. We will do
this by further developing our brands to meet emerging consumer vitality needs,
rolling out new initiatives faster across our markets and strengthening our
competitiveness.

Savoury and dressings

We are growing our savoury and dressings brands by developing new products that
suit the changing lifestyles of our consumers, by keeping them relevant through
the creation of world class communication and through launches in new trade
channels and markets. Underlying sales grew by 2.6%.

Our performance in Europe was mixed. There was strong growth in dressings in
Russia and the UK. However this was partly offset by declines in dressings in
France and the Netherlands and in savoury in the UK as we faced a challenging
trade environment and intense competition.

In North America, Hellmann's dressings benefitted from strong brand activation
and an improved go to market strategy. Excellent results were achieved with our
Carb Option dressings, part of a wider range of low carbohydrate products. This
was followed by the launch of chilled side dishes under our Country Crock brand
across the USA towards the end of the year.

In Latin America a cholesterol free Hellmann's mayonnaise addressed the growing
demand for 'healthy heart' products. Knorr soups were launched in Mexico and
Argentina, while in Brazil we launched low unit price Knorr seasoning cubes
particularly relevant to lower income consumers.

Spreads and cooking products

Underlying sales grew by 1.6% with strong momentum in the second half of the
year. Our 'healthy heart' brands were strengthened further with the successful
launch of Flora/Becel pro.activ milk drinks and yoghurts in a number of European
markets and these brands continued to gain share in spreads. There were also
good performances by well-established brands like Rama and Blue Band following
the extension into the range of Finesse cooking creams at the end of 2003.

In North America Country Crock produced excellent results, while the launch of
Carb Options Skippy peanut butter is now being followed by an extension into
snack bars.

In Turkey, significant price reductions on our Sana brand to defend our market
volume meant a decline in sales.

Overall growth in the category was held back by lower sales of 'tail' brands
which are being managed for value.

Beverages

Our beverages business performed below par in 2004, with an underlying sales
decline of 3.9%. Growth in leaf tea and good progress with Ades soy based drinks
were more than offset by declines in ready-to-drink tea and by Slim•Fast.

In Europe, poor summer weather resulted in reduced sales of our ready-to-drink
Lipton ice tea range. However leaf teas performed considerably better. The
launch of Lipton Ice Tea Green and Lipton green leaf teas established the brand
as the market leader in green tea, while difficult trading conditions impacted
negatively on the UK and Ireland, two of our biggest tea countries in Europe.

In Asia, Brooke Bond tea in India and Sariwangi in Indonesia both grew strongly.
In China we introduced Lipton Asian tea bags and Lipton Milk Tea powders.
However it was a difficult year for tea in Pakistan, which faced increased
promotional activity by local competition.

Our Pepsi Lipton International joint venture, launched in 2003 to accelerate our
growth in under-developed ready-to-drink tea markets, is producing strong
results.

Our 'health & wellness' brands, largely made up of Slim•Fast, were hard hit by
rapidly changing dieting preferences. In the first half of the year we
stabilised market share with the launch of a low carb range. Towards the end of
the year we relaunched the entire Slim•Fast portfolio in the US, with improved
formulations which include up to 55% less sugar content.

Ades, our nutritional soy-based drink continued to grow strongly in Argentina,
Mexico and Brazil and was extended into dairy products with the launch of
Yofresh, a soy-based yoghurt alternative.


Ice cream and frozen foods

Underlying sales of ice cream and frozen foods were lower by 3.4% with declines
in both parts of the category.

Ice Cream sales in Europe were affected by a poorer summer compared with the
excellent weather conditions in the summer of 2003. Lower priced competition led
to some market share loss in take-home 'tubs', but this was partly offset by the
roll-out of new variants such as Magnum Intense and Cornetto Love Potions.

Our US ice cream brands Klondike, Breyers and Ben & Jerry's continued to grow
well, gaining market share in a highly competitive market. Key to this success
has been meeting consumer demand for 'health & wellness' lines such as low-carb,
low-sugar, lactose free and yoghurt products which now represent over 20% of our
portfolio.

In Latin America we successfully launched Ades Kibon ice cream, extending the
soy benefits of Ades into ice cream. In Asia, there was strong growth of our ice
cream businesses, particularly in Indonesia and China.

We have been reorganising the frozen foods business to focus more on higher
growth segments of the market, including making some disposals. Margins continue
to improve through restructuring. The relaunch of the Iglo, Birds Eye, Findus
brand family commenced in the second half of the year in the UK. Initial results
are encouraging and roll out to other European markets is planned for 2005.
Recent innovations include convenience products using fresh, natural
ingredients.

Personal Care

In 2004, our Personal Care business had underlying sales growth of 2.1%. Market
share improved in Europe, Middle East & Africa. In a number of other regions,
market share began to recover by the end of the year following some declines
earlier in the year.

Under Path to Growth, our performance in Personal Care has been driven by six
global brands - Dove, Sunsilk, Axe, Rexona, Lux and Pond's and these again grew
well in aggregate in 2004.

Deodorants saw another year of double-digit growth, with increased share in most
regions. Axe had another excellent year, based on its notable success in North
America where the brand now has close to 13% market share two years after
launch. Elsewhere growth came from the new fragrance Touch, higher consumption
in Latin America through all over body usage, and the deployment of
award-winning advertising. Rexona continues to build market share as the world's
largest deodorant brand - it was relaunched in Europe, where it is now the
market leader for women, with new body responsive technology, and successful
variants such as Rexona Ebony have been launched in Latin America.

In hair care, Sunsilk continued its double-digit growth and was rolled out in
Europe. Variant innovations as solutions to daily hair problems were the
foundation of the brand's success, communicated globally through the 'hair
dramas' campaign. However, overall growth in the category was held back by a
fierce competitive response to our previous market share gains in Japan. This
has been addressed through the relaunch of Lux and mod's shampoos. In India,
volumes were well ahead, but at significantly lower prices, whilst in North
America, portfolio issues have restricted growth.

In skin cleansing, a disappointing performance in North America offset share
gains in other territories. In skin care, Dove has been successful with firming
lotion in Europe, and this has been the vehicle for the 'Real Beauty'
communication platform. Fair & Lovely has enjoyed a strong year in India, while
Vaseline has been relaunched in the highly active US market.

In oral we continued to focus investment behind selected leadership positions
with our Signal / Pepsodent and Close Up brands.

The prestige fragrance business met our 2004 expectations, delivering sharply
improved profitability and cash flow. The key launch was Eternity Moment in the
third quarter, which quickly established itself as one of the leading new
fragrances in Europe this year.

Home Care

In 2004, underlying sales in our Home Care business declined by 0.4%. Volumes
grew by 1.8% but this was more than offset by price declines, reflecting
increased consumer sensitivity in this area resulting in reduced market sizes in
the developed world.

Performance was on the whole disappointing. Despite gains in specific
territories, overall market share fell marginally - with growth in developing
markets offset by the decline in Europe and North America.

In laundry, our top performance fabric cleaning brand, Omo, is now aligned to a
common brand proposition across the world, and continued to perform well in
difficult trading conditions. Omo strengthened its position in a number of key
markets. The success of Omo was supported by the 'Pockets' campaign in parts of
Asia, Africa and Latin America, as well as the 'Dirt is Good' campaign and
innovations such as Aloe Vera in Latin America.

Other brands that performed well included the Radiant family (superior whiteness
and brightness marketed as Rin and Ala), and the fabric conditioner brand
Comfort.

The household care business declined due to difficult trading conditions in
Europe, despite strong growth in developing and emerging markets. Attention was
focused on the profitability of the business, which improved significantly.







SAFE HARBOUR STATEMENT: This announcement may contain forward-looking
statements, including 'forward-looking statements' within the meaning of the
United States Private Securities Litigation Reform Act of 1995. Words such as
'expects', 'anticipates', 'intends' or the negative of these terms and other
similar expressions of future performance or results and their negatives are
intended to identify such forward-looking statements. These forward-looking
statements are based upon current expectations and assumptions regarding
anticipated developments and other factors affecting the Group. They are not
historical facts, nor are they guarantees of future performance. Because these
forward-looking statements involve risks and uncertainties, there are important
factors that could cause actual results to differ materially from those
expressed or implied by these forward-looking statements, including, among
others, competitive pricing and activities, consumption levels, costs, the
ability to maintain and manage key customer relationships and supply chain
sources, currency values, interest rates, the ability to integrate acquisitions
and complete planned divestitures, physical risks, environmental risks, the
ability to manage regulatory, tax and legal matters and resolve pending matters
within current estimates, legislative, fiscal and regulatory developments,
political, economic and social conditions in the geographic markets where the
Group operates and new or changed priorities of the Boards. Further details of
potential risks and uncertainties affecting the Group are described in the
Group's filings with the London Stock Exchange, Euronext Amsterdam and the US
Securities and Exchange Commission, including the Annual Report & Accounts on
Form 20-F. These forward-looking statements speak only as of the date of this
document. Except as required by any applicable law or regulation, the Group
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained herein to
reflect any change in the Group's expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement is based.

RESULTS AT CURRENT EXCHANGE RATES

During the year the average exchange rate for the Euro strengthened by 4%
against a representative basket of currencies for Unilever. Compared with
constant rates, the change in turnover at current exchange rates was lower by 4
percentage points and operating profit beia was lower by 3 percentage points.
EPS beia growth for the year was 3% lower, at 2%.

FINAL DIVIDEND

The Boards will recommend to the Annual General Meetings a final dividend of
€1.26 per €0.51* ordinary share of Unilever N.V. and a final dividend of 12.82p
per 1.4p ordinary share of Unilever PLC. This will bring the total dividend to
€1.89 per ordinary share of €0.51*, an increase of 9% over last year and 19.15p
per ordinary share of 1.4p, an increase of 6% over last year.

* This amount is a representation in euros on the basis of Article 67c Book 2 of
the Dutch Civil Code, rounded to two decimal places, of underlying Dutch
guilders, as these have not been converted into euros in Unilever N.V.'s
Articles of Association.

CASH FLOW (at current exchange rates)

Cash flow from group operating activities was €6.9 billion in 2004, an increase
of €0.1 billion over 2003. Lower group operating profit (beia) and increased
contributions to pension funds were offset by reduced working capital levels.
The exceptional charges taken in the fourth quarter had little cash effect in
2004, falling mainly into 2005.

Returns on investment and servicing of finance cash outflows were €0.4 billion
lower as a result of reduced interest costs and higher dividends paid to
minority shareholders in the comparative period. The drivers of lower interest
costs were reduced debt levels and lower interest rates.

Net capital expenditure and financial investment was at a similar level to the
prior year, which included a
€0.2 billion cash inflow from the sale of a fixed rate investment. Net cash
inflows from acquisitions and disposals were €0.3 billion lower than in 2003.

Closing net debt was €9.7 billion, a reduction of €2.9 billion since the start
of the year, €0.9 billion of which relates to currency movements.
BALANCE SHEET (at current exchange rates)

Capital and reserves decreased by €0.4 billion in 2004. Net profits added €1.9
billion and the credit in respect of share option costs €0.2 billion. These were
offset by the effect of actuarial assumptions and investment returns on pension
balances (€0.5 billion), purchases of own shares to hedge share options (€0.3
billion) and 2004 dividends (€1.8 billion).

Goodwill and intangibles decreased by €2.4 billion over the year, reflecting
amortisation and impairment charges of €1.9 billion and currency movements of
€0.5 billion. Tangible fixed assets decreased by €0.4 billion through the net
impact of capital expenditure, depreciation and business disposals (€0.3
billion) and currency movements
(€0.1 billion).

Lower stocks and debtors reflect effective management of the working capital
base with an increase in the level of deferred tax assets. Restructuring and
other provisions increased following the planned step-up of restructuring costs
in the fourth quarter and a provision for a potential Brazilian sales tax
liability.

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)

Note: A description of the exchange rate conventions used is given on page 16.

     Fourth Quarter       € Millions - constant rates                      Full Year
    2004     2003 % Incr.                                              2004     2003 % Incr.
                        /                                                                  /
                  (Decr.)                                                            (Decr.)

  10,759   10,694      1% TURNOVER                                   42,023   42,942    (2)%
    (54)     (57)         Less: Share of turnover of joint            (206)    (249)
                          ventures
  10,705   10,637      1% Group turnover                             41,817   42,693    (2)%

   (364)    1,428  (125)% Group operating profit/(loss)               3,526    5,483   (36)%

      10        9         Add: Share of operating profit of joint        47       46
                          ventures

   (354)    1,437  (125)% OPERATING PROFIT/(LOSS)                     3,573    5,529   (35)%
   1,470    1,755   (16)% Operating profit beia *                     6,386    6,772    (6)%
 (1,537)     (23)         Exceptional items                         (1,672)    (100)
   (287)    (295)         Amortisation of goodwill and intangibles  (1,141)  (1,143)

      10       12         Share of operating profit of associates        47       25
       5        8         Other income from fixed investments            33      (3)

   (177)    (217)         Interest                                    (684)    (847)
     (3)     (41)         Other finance income/(cost) - pensions       (69)    (166)
                          and similar obligations

   (519)    1,199  (143)% PROFIT/(LOSS) BEFORE TAXATION               2,900    4,538   (36)%

     278    (394)         Taxation                                    (806)  (1,527)

   (241)      805  (130)% PROFIT/(LOSS) AFTER TAXATION                2,094    3,011   (30)%

    (42)     (72)         Minority interests                          (194)    (249)

   (283)      733  (139)% NET PROFIT/(LOSS)                           1,900    2,762   (31)%

   1,016    1,030    (1)% Net profit beia *                           4,090    3,923      4%

                          COMBINED EARNINGS PER SHARE
                          (Constant rates)

  (0.30)     0.75  (140)% - per €0.51 ordinary NV share (Euros)        1.94     2.82   (31)%
  (4.50)    11.28  (140)% - per 1.4p ordinary PLC share (Euro         29.14    42.33   (31)%
                          cents)

    1.05     1.06    (1)% - per €0.51 ordinary NV share - beia *       4.22     4.02      5%
                          (Euros)
   15.75    15.90    (1)% - per 1.4p ordinary PLC share - beia *      63.25    60.31      5%
                          (Euro cents)

  (0.31)     0.73  (142)% - per €0.51 ordinary NV share - diluted      1.87     2.74   (32)%
                          (Euros)
  (4.61)    10.94  (142)% - per 1.4p ordinary PLC share - diluted     28.04    41.09   (32)%
                          (Euro cents)

* Before exceptional items and amortisation of goodwill and intangibles



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

Net profit and earnings per share given below are stated at current exchange
rates i.e. the results in both years have been translated at the exchange rates
prevailing during the appropriate period.

For further details of the results at current exchange rates and impact of
exchange rate movements see notes on page 16.

    Fourth Quarter        € Millions - current rates                      Full Year
   2004    2003 % Incr./                                              2004    2003 % Incr./
                (Decr.)                                                             (Decr.)

 10,233  10,490    (2)%   TURNOVER                                  40,366  42,942     (6)%
   (50)    (55)           Less: Share of turnover of joint           (197)   (249)
                          ventures
 10,183  10,435    (2)%   Group turnover                            40,169  42,693     (6)%

  (337)   1,409  (124)%   Group operating profit/(loss)              3,411   5,483    (38)%

      9       8           Add: Share of operating profit of joint       44      46
                          ventures

  (328)   1,417  (123)%   OPERATING PROFIT/(LOSS)                    3,455   5,529    (38)%
  1,395   1,727   (19)%   Operating profit beia *                    6,138   6,772     (9)%
(1,453)    (22)           Exceptional items                        (1,597)   (100)
  (270)   (288)           Amortisation of goodwill and intangibles (1,086) (1,143)

      8      12           Share of operating profit of associates       42      25
      5       8           Other income from fixed investments           31     (3)

  (159)   (210)           Interest                                   (628)   (847)
      -    (39)           Other finance income/(cost) - pensions      (61)   (166)
                          and similar obligations

  (474)   1,188  (140)%   PROFIT/(LOSS) BEFORE TAXATION              2,839   4,538    (37)%

    258   (388)           Taxation                                   (782) (1,527)

  (216)     800  (127)%   PROFIT/(LOSS) AFTER TAXATION               2,057   3,011    (32)%

   (39)    (70)           Minority interests                         (181)   (249)

  (255)     730  (135)%   NET PROFIT/(LOSS) AT EXCHANGE RATES        1,876   2,762    (32)%
                          CURRENT IN EACH PERIOD

    976   1,019    (4)%   Net profit beia *                          3,969   3,923       1%

                          COMBINED EARNINGS PER SHARE
                          (Current rates)
 (0.27)    0.75  (136)%   - per €0.51 ordinary NV share (Euros)       1.92    2.82    (32)%
 (4.05)   11.23  (136)%   - per 1.4p ordinary PLC share (Euro        28.78   42.33    (32)%
                          cents)

   1.01    1.05    (4)%   - per €0.51 ordinary NV share - beia *      4.09    4.02       2%
                          (Euros)
  15.12   15.72    (4)%   - per 1.4p ordinary PLC share - beia *     61.37   60.31       2%
                          (Euro cents)

 (0.27)    0.73  (138)%   - per €0.51 ordinary NV share - diluted     1.85    2.74    (33)%
                          (Euros)
 (4.18)   10.89  (138)%   - per 1.4p ordinary PLC share - diluted    27.69   41.09    (33)%
                          (Euro cents)

                          Preference dividends                        (28)    (27)
                          Dividends on ordinary capital            (1,815) (1,682)
                          Result for the year retained                  33   1,053

* Before exceptional items and amortisation of goodwill and intangibles

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES (unaudited)


€ Millions - current rates                                            Full Year    

                                                                      2004    2003 


Net profit                                                           1,876   2,762 

Pensions - actuarial gains / (losses) net of tax                     (454)    (28) 

Currency retranslation                                                  83     159 

Total recognised gains for the year                                  1,505   2,893 


MOVEMENTS IN SHAREHOLDERS' EQUITY (unaudited)


€ Millions - current rates                                          Full Year     

                                                                    2004      2003


Shareholders' equity as at 1 January                               5,920     4,702

Net profit                                                         1,876     2,762

Dividends                                                        (1,843)   (1,709)

Goodwill written back on disposals                                    16       135

Change in book value of shares or certificates held in             (324)     (400)
connection with share options                                                     

Actuarial gains / (losses) on pension schemes net of tax           (454)      (28)

Credit in respect of share option costs                              222       208

Currency retranslation                                               121       250

Shareholders' equity as at 31 December                             5,534     5,920


SUMMARY BALANCE SHEET (unaudited)

€ Millions - current rates                                         As at 31 December
                                                                     2004       2003

Goodwill and intangible assets                                     15,338     17,713
Other fixed assets                                                  6,473      6,854
Stocks                                                              3,758      4,175
Debtors                                                             5,703      5,881
Cash and current investments                                        2,603      3,345
Trade and other creditors                                        (10,132)   (10,304)
                                                                   23,743     27,664
Borrowings                                                         12,048     15,900
Provisions for liabilities and charges (excluding pensions and      1,881      1,645
similar obligations)
Net pension asset for funded schemes in surplus                     (456)      (490)
Net pension liability for funded schemes in deficit                 1,633      1,629
Net pension liability for unfunded schemes                          2,741      2,620
Minority interests                                                    362        440
Capital and reserves                                                5,534      5,920
                                                                   23,743     27,664

CASH FLOW STATEMENT (unaudited)
€ Millions - current rates                                             Full Year

                                                                     2004      2003

Cash flow from group operating activities                           6,853     6,780
Dividends from joint ventures                                          60        52
Returns on investments and servicing of finance                     (807)   (1,180)
Taxation                                                          (1,378)   (1,423)
Capital expenditure and financial investment                      (1,044)   (1,024)
Acquisitions and disposals                                            316       622
Dividends paid on ordinary share capital                          (1,720)   (1,715)
                                                                    2,280     2,112
CASH INFLOW / (OUTFLOW) BEFORE MANAGEMENT OF LIQUID
RESOURCES AND FINANCING

Management of liquid resources                                       (31)      (41)
Financing                                                         (2,921)   (2,917)
INCREASE / (DECREASE) IN CASH IN THE PERIOD                         (672)     (846)

RECONCILIATION OF CASH FLOW TO MOVEMENT IN NET DEBT (unaudited)
€ Millions - current rates                                            Full Year

                                                                     2004      2003

NET DEBT AT 1 JANUARY                                            (12,555)  (16,966)
INCREASE / (DECREASE) IN CASH IN THE PERIOD                         (672)     (846)
Cash flow from (increase) / decrease in borrowings                  3,042     2,909
Cash flows arising in connection with finance leases                (128)         -
Cash flow from increase / (decrease) in liquid resources               31        41
Change in net debt resulting from cash flows                        2,273     2,104
Borrowings within group companies acquired                              -      (25)
Borrowings within group companies sold                                 41         5
Liquid resources within group companies sold                          (2)       (3)
Non cash movements                                                  (319)       690
Currency retranslation                                                899     1,640
MOVEMENT IN NET DEBT IN THE PERIOD                                  2,892     4,411

NET DEBT AT 31 DECEMBER                                           (9,663)  (12,555)

OPERATIONAL ANALYSIS (unaudited)

     Fourth Quarter           € Millions                                        Full Year
       Constant Rates                                                   Current       Constant Rates
                                                                         Rates
      2004      2003 % Incr./                                             2004    2004   2003    % Incr./
                       (Decr)                                                                      (Decr.)

    10,759    10,694       1%      TURNOVER                             40,366  42,023    42,942      (2)%

     5,880     5,834       1%      Foods                                22,710  23,480    24,200      (3)%

     2,409     2,355       2%      Savoury and Dressings                 8,397   8,713     8,609        1%
     1,319     1,355     (3)%      Spreads and Cooking Products          4,644   4,759     5,028      (5)%
       859       851       1%      Beverages                             3,206   3,376     3,569      (5)%
     1,293     1,273       2%      Ice Cream and Frozen Foods            6,463   6,632     6,994      (5)%
     4,817     4,735       2%      Home and Personal Care               17,418  18,285    18,383      (1)%

     1,800     1,828     (2)%      Home Care                             6,782   7,023     7,230      (3)%
     3,017     2,907       4%      Personal Care                        10,636  11,262    11,153        1%
        62       125    (51)%      Other Operations                        238     258       359     (28)%

     1,470     1,755    (16)%      OPERATING PROFIT - beia *             6,138   6,386     6,772      (6)%

       842       963    (13)%      Foods                                 3,519   3,632     3,900      (7)%

       532       508       5%      Savoury and Dressings                 1,561   1,617     1,496        8%
       244       264     (8)%      Spreads and Cooking Products            766     781       865     (10)%
        54       157    (65)%      Beverages                               390     409       527     (22)%
        12        34    (66)%      Ice Cream and Frozen Foods              802     825     1,012     (19)%
       645       792    (19)%      Home and Personal Care                2,637   2,772     2,878      (4)%

       158       219    (28)%      Home Care                               774     794       914     (13)%
       487       573    (15)%      Personal Care                         1,863   1,978     1,964        1%
      (17)         0               Other Operations                       (18)    (18)       (6)    (169)%

     13.7%     16.4%               OPERATING MARGIN - beia *             15.2%   15.2%     15.8%

     14.3%     16.5%               Foods                                 15.5%   15.5%     16.1%

     22.1%     21.6%               Savoury and Dressings                 18.6%   18.6%     17.4%
     18.5%     19.5%               Spreads and Cooking Products          16.5%   16.4%     17.2%
      6.4%     18.5%               Beverages                             12.2%   12.1%     14.8%
      0.9%      2.7%               Ice Cream and Frozen Foods            12.4%   12.4%     14.5%
     13.4%     16.7%               Home and Personal Care                15.1%   15.2%     15.7%

      8.8%     12.0%               Home Care                             11.4%   11.3%     12.6%
     16.1%     19.7%               Personal Care                         17.5%   17.6%     17.6%
   (28.4)%    (0.3)%               Other Operations                     (7.9)%  (7.0)%    (1.9)%

* Before exceptional items and amortisation of goodwill and intangibles


GEOGRAPHICAL ANALYSIS (unaudited)

       Fourth Quarter            € Millions                                         Full Year
         Constant Rates                                                  Current        Constant Rates
                                                                           Rates
    2004     2003      % Incr./                                             2004    2004    2003     % Incr./
                       (Decr)                                                                         (Decr.)

    10,759  10,694          1%     TURNOVER                               40,366    42,023   42,942       (2)%

     4,364   4,407        (1)%     Europe                                 17,409    17,392   18,297       (5)%
     2,498   2,436          3%     North America                           8,992     9,821    9,869       (0)%
       860     845          2%     Africa, Middle East & Turkey            3,274     3,302    3,302         0%
     1,792   1,821        (2)%     Asia and Pacific                        6,474     6,954    7,094       (2)%
     1,245   1,185          5%     Latin America                           4,217     4,554    4,380         4%

     1,470     1,755     (16)%      OPERATING PROFIT - beia *             6,138     6,386    6,772       (6)%

       616       628      (2)%      Europe                                2,864     2,858    3,032       (6)%
       381       563     (32)%      North America                         1,382     1,514    1,660       (9)%
        61       111     (45)%      Africa, Middle East & Turkey            399       399      438       (9)%
       182       269     (32)%      Asia and Pacific                        802       870    1,024      (15)%
       230       184       24%      Latin America                           691       745      618        20%

     13.7%     16.4%                OPERATING MARGIN - beia *             15.2%     15.2%    15.8%

     14.1%     14.3%                Europe                                16.4%     16.4%    16.6%
     15.3%     23.1%                North America                         15.4%     15.4%    16.8%
      7.1%     13.1%                Africa, Middle East & Turkey          12.2%     12.1%    13.3%
     10.2%     14.8%                Asia and Pacific                      12.4%     12.5%    14.4%
     18.4%     15.5%                Latin America                         16.4%     16.4%    14.1%

* Before exceptional items and amortisation of goodwill and intangibles



DIVIDENDS

The Boards have resolved to recommend to the Annual General Meetings for NVand
PLC, to be held on 10 May 2005 and 11 May 2005 respectively, the declaration of
final dividends in respect of 2004 on the Ordinary capitals at the following
rates which are equivalent in value at the rate of exchange applied in terms of
the Equalisation Agreement between the two companies:

Unilever N.V.

€1.26 per ordinary share (2003: €1.15), bringing the total of NV's dividend for
2004 to €1.89 per ordinary share
(2003: €1.74).

Unilever PLC

12.82p per ordinary share (2003: 11.92p), bringing the total of PLC's dividend
for 2004 to 19.15p per ordinary share
(2003: 18.08p).

The NV final dividend will be paid on 13 June 2005, to shareholders registered
at close of business on 11 May 2005.

The PLC final dividend will be paid on 13 June 2005, to shareholders registered
at close of business on 20 May 2005.

Dividend on New York shares of NV

US dollar cheques for the final dividend on the New York Shares of €0.51*
nominal amount after deduction of Netherlands withholding tax at the appropriate
rate, converted at the euro/dollar European Central Bank rate of exchange on 10
May 2005 will be mailed on 10 June 2005 to holders of record at the close of
business on 16 May 2005. If converted at the euro/dollar rate of exchange on 9
February 2005, the NV final dividend would be US $1.608012 per New York share
(2003 final dividend: US $1.363555 actual payment) before deduction of
Netherlands withholding tax. With the interim dividend in respect of 2004 of US
$0.805392 at the actual euro/ dollar conversion rate, already paid, this would
result in a total for interim and final dividends in respect of 2004 of US
$2.413404 per New York Share (2003: US $2.052262 actual payment).

* The euro amounts of share capital shown above are representations in euros on
the basis of article 67c Book 2 Dutch Civil Code of underlying amounts of share
capital in Dutch guilders.


Dividend on American Depositary Receipts of PLC

US Dollar cheques for the final dividend on the American Depositary Receipts in
PLC converted at the sterling/dollar rate of exchange current in London on 11
May 2005 will be mailed on 10 June 2005 to holders of record at the close of
business on 20 May 2005. Each American Depositary Receipt in PLC represents four
1.4p ordinary shares in PLC. The PLC final dividend will therefore be 51.28p per
American Depositary Receipt in PLC. If converted at the sterling/dollar rate of
exchange on 9 February 2005, the PLC final dividend would be US $0.9547 per
American Depositary Receipt in PLC (2003 final dividend: US $0.8449 actual
payment). With the interim dividend in respect of 2004 of US $0.4654 at the
actual sterling/ dollar conversion rate, already paid, this would result in a
total for interim and final dividends in respect of 2004 of US $1.4201 per
American Depositary Receipt in PLC (2003: US $1.2616 actual payment).


NOTES

Exchange rate conventions

The following exchange rate conventions have been applied:

In the profit and loss account information given on page 9 and the segmental
analysis on pages 13 and 14, the results for 2004 and the comparative figures
for 2003 have been translated at constant exchange rates, being the annual
average exchange rates for 2003. This reporting convention facilitates
comparisons since the impact of exchange rate fluctuations is eliminated, and is
the basis on which we measure our operational performance internally. It also
forms the basis for target setting and the annual outlook statement. For our
reporting currencies these rates were €1 = £0.69 = US $1.13.

The profit and loss account information given on page 10 and the cash flow
statement on page 12 are translated at rates current in each period. For our
reporting currencies these rates were €1 = £0.68 = US $1.24 for 2004 and €1 =
£0.69 = US $1.13 for 2003. Additional segmental analysis translated at current
exchange rates is given on pages 13 and 14.

The balance sheet figures have been translated at period-end rates of exchange.
For our reporting currencies these were €1 = £0.71 = US $1.37 at 31 December 
2004 and €1 = £0.71 = US $1.26 at 31 December 2003.

Acquisitions and disposals

On 1 December 2004, we announced an agreement to sell our frozen pizza business
and baguette business to Dr Oetker of Bielefeld, Germany, subject to regulatory
approval where required. This approval is expected to be confirmed early in
2005.

On 15 December 2004, we announced our intention to restructure our foods
business in Portugal with our joint venture partner, Jeronimo Martins Group,
subject to regulatory approval. This approval was received on 2 February 2005.


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 year, 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 = €5.445, 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 and the NV shares issuable on conversion of the €0.05
preference shares. The number of shares under option 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.

The financial statements attached do not constitute the full financial
statements within the meaning of S420 of the Companies Act 1985. Full accounts
for Unilever for the year ended 31 December 2003 have been delivered to the
Registrar of Companies. The auditors' report on these accounts was unqualified
and did not contain a statement under S237(2) or S237(3) of the Companies Act
1985.

Earnings per share in Euro for the year

                                                     Constant rates     Current rates
                                                    2004       2003       2004      2003


                                                          Thousands of units
Average number of combined share units of        963,407    968,907    963,407   968,907
€0.51
Average number of combined share units of      6,422,715  6,459,377  6,422,715 6,459,377
1.4p

COMBINED EPS                                                  € Millions

Net profit                                         1,900      2,762      1,876     2,762
Less: Preference dividends                          (28)       (27)       (28)      (27)
Net profit attributable to ordinary capital        1,872      2,735      1,848     2,735

Combined EPS per €0.51 (Euros)                      1.94       2.82       1.92      2.82
Combined EPS per 1.4p (Euro cents)                 29.14      42.33      28.78     42.33

COMBINED EPS - beia *                                         € Millions

Net profit                                         1,900      2,762      1,876     2,762
Add back exceptional items net of tax              1,102         67      1,057        67
Add back amortisation of goodwill /                1,088      1,094      1,036     1,094
intangibles net of tax
Net profit beia *                                  4,090      3,923      3,969     3,923
Less: Preference dividends                          (28)       (27)       (28)      (27)
Net profit attributable to ordinary capital -      4,062      3,896      3,941     3,896
beia *

Combined EPS - beia* per €0.51 (Euros)              4.22       4.02       4.09      4.02
Combined EPS - beia* per 1.4p (Euro cents)         63.25      60.31      61.37     60.31

COMBINED EPS - Diluted                                    Thousands of units

Adjusted average combined share units of       1,012,545    998,141  1,012,545   998,141
€0.51
Adjusted average combined share units of 1.4p  6,750,301  6,654,276  6,750,301 6,654,276

                                                              € Millions
Adjusted net profit attributable to ordinary       1,893      2,735      1,869     2,735
capital

Combined diluted EPS per €0.51 (Euros)              1.87       2.74       1.85      2.74
Combined diluted EPS per 1.4p (Euro cents)         28.04      41.09      27.69     41.09


* Before exceptional items and amortisation of goodwill and intangibles


Dates

The Annual Report and Accounts 2004 will be published on 24 March 2005. The
restatement of 2004 results on an IFRS basis will be published shortly
thereafter, and the provisional results for the first quarter 2005 under IFRS
will be published on Friday 6 May 2005.

ENQUIRIES: UNILEVER PRESS OFFICE [phone]/6010
Internet: http://www.unilever.com

E-mail: [e-mail]


10 February 2005





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

Note: A description of the exchange rate conventions used is given on page 16.

      Fourth Quarter         US $ Millions          Full Year
                             - constant
                             rates
  2004     2003   % Incr./                    2004     2003   % Incr./
                   (Decr.)                                     (Decr.)
12,113   12,042          1%  TURNOVER       47,317   48,353         (2)%
   (60)     (64)             Less: Share of   (232)    (280)
                             turnover of
                             joint
                             ventures
12,053   11,978          1%  Group          47,085   48,073         (2)%
                             turnover
  (410)   1,607       (125)% Group           3,970    6,173        (36)%
                             operating
                             profit/(loss)

    11       10              Add: Share of      53       52
                             operating
                             profit of
                             joint
                             ventures
  (399)   1,617       (125)% OPERATING       4,023    6,225        (35)%
                             PROFIT/(LOSS)

 1,656    1,976        (16)% Operating       7,191    7,625         (6)%
                             profit beia *

(1,731)     (27)             Exceptional    (1,883)    (113)
                             items
  (324)    (332)             Amortisation   (1,285)  (1,287)
                             of goodwill
                             and
                             intangibles
    11       15              Share of           52       29
                             operating
                             profit of
                             associates
     7        8              Other income       38       (4)
                             from fixed
                             investments
  (200)    (245)             Interest         (771)    (954)
    (2)     (45)             Other finance     (77)    (186)
                             income /
                             (cost) -
                             pensions and
                             similar
                             obligations
  (583)   1,350       (143)% PROFIT/(LOSS)   3,265    5,110        (36)%
                             BEFORE
                             TAXATION
   312     (444)             Taxation         (908)  (1,720)
  (271)     906       (130)% PROFIT/(LOSS)   2,357    3,390        (30)%
                             AFTER
                             TAXATION
   (47)     (81)             Minority         (218)    (281)
                             interests
  (318)     825       (139)% NET PROFIT/     2,139    3,109        (31)%
                             (LOSS)
 1,145    1,160         (1)% Net profit      4,606    4,417          4%
                             beia *
                             COMBINED
                             EARNINGS PER
                             SHARE
                             (Constant
                             rates)
 (0.34)    0.85       (140)% - per €0.51      2.19     3.18        (31)%
                             ordinary NV
                             share (US $)
 (0.21)    0.51       (140)% - per 5.6p       1.31     1.91        (31)%
                             ordinary PLC
                             share (US $)
  1.18     1.20         (1)% - per €0.51      4.75     4.53          5%
                             ordinary NV
                             share - beia *
                             (US $)
  0.71     0.72         (1)% - per 5.6p       2.85     2.72          5%
                             ordinary PLC
                             share - beia *
                             (US $)
 (0.34)    0.82       (142)% - per €0.51      2.11     3.08        (32)%
                             ordinary NV
                             share -
                             diluted (US $)

 (0.21)    0.49       (142)% - per 5.6p       1.26     1.85        (32)%
                             ordinary PLC
                             share -
                             diluted (US $)

* Before exceptional items and amortisation of goodwill and intangibles

NET PROFIT AND EARNINGS PER SHARE - CURRENT EXCHANGE RATES (unaudited)

Net profit and earnings per share given below are stated at current exchange
rates i.e. the results in both years have been translated at the exchange rates
prevailing during the appropriate period.

For further details of the results at current exchange rates and impact of
exchange rate movements see notes on page 16.

      Fourth Quarter         US $ Millions          Full Year
                             - current
                             rates
  2004     2003   % Incr./                    2004     2003   % Incr./
                   (Decr.)                                     (Decr.)
13,031   12,299          6%  TURNOVER       49,974   48,353          3%
   (64)     (65)             Less: Share of   (244)    (280)
                             turnover of
                             joint
                             ventures
12,967   12,234          6%  Group          49,730   48,073          3%
                             turnover
  (372)   1,647       (123)% Group           4,223    6,173        (32)%
                             operating
                             profit/(loss)

    11       10              Add: Share of      54       52
                             operating
                             profit of
                             joint
                             ventures
  (361)   1,657       (122)% OPERATING       4,277    6,225        (31)%
                             PROFIT/(LOSS)

 1,783    2,020        (12)% Operating       7,598    7,625          0%
                             profit beia *

(1,801)     (26)             Exceptional    (1,977)    (113)
                             items
  (343)    (337)             Amortisation   (1,344)  (1,287)
                             of goodwill
                             and
                             intangibles
    11       15              Share of           52       29
                             operating
                             profit of
                             associates
     7        8              Other income       39       (4)
                             from fixed
                             investments
  (202)    (246)             Interest         (777)    (954)
    (1)     (45)             Other finance     (76)    (186)
                             income /
                             (cost) -
                             pensions and
                             similar
                             obligations
  (546)   1,389       (139)% PROFIT/(LOSS)   3,515    5,110        (31)%
                             BEFORE
                             TAXATION
   307     (455)             Taxation         (968)  (1,720)
  (239)     934       (126)% PROFIT/(LOSS)   2,547    3,390        (25)%
                             AFTER
                             TAXATION
   (50)     (82)             Minority         (224)    (281)
                             interests
  (289)     852       (134)% NET PROFIT/     2,323    3,109        (25)%
                             (LOSS) AT
                             EXCHANGE
                             RATES
                             CURRENT IN
                             EACH PERIOD
 1,245    1,191          5%  Net profit      4,914    4,417         11%
                             beia *
                             COMBINED
                             EARNINGS PER
                             SHARE
                             (Current
                             rates)
 (0.30)    0.88       (135)% - per €0.51      2.38     3.18        (25)%
                             ordinary NV
                             share (US $)
 (0.18)    0.53       (135)% - per 5.6p       1.43     1.91        (25)%
                             ordinary PLC
                             share (US $)
  1.29     1.23          5%  - per €0.51      5.07     4.53         12%
                             ordinary NV
                             share - beia *
                             (US $)
  0.77     0.74          5%  - per 5.6p       3.04     2.72         12%
                             ordinary PLC
                             share - beia *
                             (US $)
 (0.31)    0.84       (137)% - per €0.51      2.29     3.08        (26)%
                             ordinary NV
                             share -
                             diluted (US $)

 (0.19)    0.51       (137)% - per 5.6p       1.37     1.85        (26)%
                             ordinary PLC
                             share -
                             diluted (US $)

                             Preference        (35)     (31)
                             dividends
                             Dividends on   (2,247)  (1,894)
                             ordinary
                             capital
                             Result for the     41    1,184
                             year
                             retained

* Before exceptional items and amortisation of goodwill and intangibles

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES (unaudited)

US $ Millions - current rates                              Full Year
                                                        2004      2003
Net profit                                             2,323     3,109
Pensions - actuarial gains / (losses) net of tax        (562)      (32)
Currency retranslation                                   808     1,374
Total recognised gains / (losses) for the year         2,569     4,451

MOVEMENTS IN SHAREHOLDERS' EQUITY (unaudited)
US $ Millions - current rates                            Full Year
                                                        2004      2003
Shareholders' equity as at 1 January                   7,465     4,932
Net profit                                             2,323     3,109
Dividends                                             (2,282)   (1,925)
Goodwill written back on disposals                        19       152
Change in book value of shares or certificates held     (401)     (450)
in connection with share options
Actuarial gains / (losses) on pension schemes net of    (562)      (32)
tax
Credit in respect of share option costs                  275       235
Currency retranslation                                   722     1,444
Shareholders' equity as at 31 December                 7,559     7,465

SUMMARY BALANCE SHEET (unaudited)
US $ Millions - current rates                        As at 31 December
                                                       2004       2003
Goodwill and intangible assets                       20,951     22,336
Other fixed assets                                    8,842      8,642
Stocks                                                5,134      5,265
Debtors                                               7,790      7,416
Cash and current investments                          3,556      4,218
Trade and other creditors                           (13,841)   (12,993)
                                                     32,432     34,884
Borrowings                                           16,457     20,050
Provisions for liabilities and charges
(excluding pensions and similar obligations)          2,569      2,074
Net pension asset for funded schemes in surplus        (623)      (618)
Net pension liability for funded schemes in           2,231      2,054
deficit
Net pension liability for unfunded schemes            3,744      3,304
Minority interests                                      495        555
Capital and reserves                                  7,559      7,465
                                                     32,432     34,884

CASH FLOW STATEMENT (unaudited)
US $ Millions - current rates                            Full Year
                                                        2004      2003
Cash flow from group operating activities              8,484     7,637
Dividends from joint ventures                             74        58
Returns on investments and servicing of finance         (999)   (1,330)
Taxation                                              (1,706)   (1,602)
Capital expenditure and financial investment          (1,292)   (1,153)
Acquisitions and disposals                               391       700
Dividends paid on ordinary share capital              (2,129)   (1,931)
CASH INFLOW / (OUTFLOW) BEFORE MANAGEMENT OF LIQUID    2,823     2,379
RESOURCES AND FINANCING
Management of liquid resources                           (38)      (47)
Financing                                             (3,617)   (3,285)
INCREASE / (DECREASE) IN CASH IN THE PERIOD             (832)     (953)

RECONCILIATION OF CASH FLOW TO MOVEMENT IN NET DEBT (unaudited)
US $ Millions - current rates                           Full Year
                                                       2004       2003
NET DEBT AT 1 JANUARY                               (15,832)   (17,797)
INCREASE / (DECREASE) IN CASH IN THE PERIOD            (832)      (953)
Cash flow from (increase) / decrease in borrowings    3,765      3,276
Cash flows arising in connection with finance leases   (158)         -
Cash flow from increase / (decrease) in liquid           38         47
resources
Change in net debt resulting from cash flows          2,813      2,370
Borrowings within group companies acquired                -        (29)
Borrowings within group companies sold                   51          5
Liquid resources within group companies sold             (2)        (3)
Non cash movements                                     (395)       777
Currency retranslation                                  165     (1,155)
MOVEMENT IN NET DEBT IN THE PERIOD                    2,632      1,965
NET DEBT AT 31 DECEMBER                             (13,200)   (15,832)

OPERATIONAL ANALYSIS (unaudited)

     Fourth Quarter              US $ Millions                     Full Year
     Constant Rates                               Current Rates          Constant Rates
  2004      2003      %                                   2004         2004        2003        % 
                    Incr./                                                                 Incr./
                   (Decr.)                                                                (Decr.)

12,113    12,042        1%       TURNOVER                49,974      47,317    48,353       (2)%
 6,621     6,569        1%       Foods                   28,114      26,439    27,250       (3)%
 2,713     2,650        2%           Savoury and         10,395       9,812     9,693        1%
                                     Dressings

 1,485     1,526       (3)%          Spreads and          5,749       5,359     5,662       (5)%
                                     Cooking
                                     Products

   967       960        1%           Health &             3,969       3,801     4,020       (5)%
                                     Wellness
                                     and
                                     Beverages

 1,456     1,433        2%           Ice Cream            8,001       7,467     7,875       (5)%
                                     and Frozen
                                     Foods

 5,424     5,332        2%       Home and                21,564      20,589    20,699       (1)%
                                 Personal Care
 2,027     2,058       (2)%          Home Care            8,396       7,908     8,141       (3)%

 3,397     3,274        4%           Personal            13,168      12,681    12,558        1%
                                     Care

    68       141      (51)%      Other                      296         289       404      (28)%
                                 Operations
 1,656     1,976      (16)%      OPERATING                7,598       7,191     7,625       (6)%
                                 PROFIT - beia *

   949     1,085      (13)%      Foods                    4,356       4,090     4,392       (7)%
   599       571        5%           Savoury and          1,932       1,820     1,684        8%
                                     Dressings

   275       298       (8)%          Spreads and            948         880       974      (10)%
                                     Cooking
                                     Products

    62       178      (65)%          Health &               483         461       594      (22)%
                                     Wellness
                                     and
                                     Beverages

    13        38      (66)%          Ice Cream              993         929     1,140      (19)%
                                     and Frozen
                                     Foods

   726       892      (19)%      Home and                 3,266       3,121     3,241       (4)%
                                 Personal Care
   178       247      (28)%          Home Care              959         894     1,029      (13)%

   548       645      (15)%          Personal             2,307       2,227     2,212        1%
                                     Care

   (19)       (1)                Other                      (24)        (20)       (8)    (169)%
                                 Operations
  13.7%     16.4%                OPERATING                 15.2%       15.2%     15.8%
                                 MARGIN - beia *

  14.3%     16.5%                Foods                     15.5%       15.5%     16.1%
  22.1%     21.6%                Savoury and               18.6%       18.6%     17.4%
                                 Dressings
  18.5%     19.5%                    Spreads and           16.5%       16.4%     17.2%
                                     Cooking
                                     Products

   6.4%     18.5%                Health &                  12.2%       12.1%     14.8%
                                 Wellness and
                                 Beverages
   0.9%      2.7%                Ice Cream and             12.4%       12.4%     14.5%
                                 Frozen Foods
  13.4%     16.7%                Home and                  15.1%       15.2%     15.7%
                                 Personal Care
   8.8%     12.0%                    Home Care             11.4%       11.3%     12.6%

  16.1%     19.7%                    Personal              17.5%       17.6%     17.6%
                                     Care

 (28.4)%    (0.3)%               Other                     (7.9)%      (7.0)%    (1.9)%
                                 Operations
* Before exceptional items and amortisation of goodwill and intangibles

GEOGRAPHICAL ANALYSIS (unaudited)

  Fourth Quarter              US $                        Full Year
                              Millions
    Constant Rates                            Current         Constant Rates
                                                Rates
  2004      2003         %                       2004       2004        2003         % 
                     Incr./                                                       Incr./
                     (Decr)                                                       (Decr.)

12,113    12,042         1%    TURNOVER       49,974      47,317      48,353         (2)%
 4,913     4,962        (1)%   Europe         21,553      19,583      20,602         (5)%
 2,811     2,743         3%    North          11,132      11,058      11,113         (0)%
                               America
   970       951         2%    Africa,         4,054       3,719       3,718          0%
                               Middle East
                               & Turkey
 2,018    2,051        (2)%    Asia and        8,015       7,830       7,988         (2)%
                               Pacific
 1,401    1,335          5%    Latin           5,220       5,127       4,932          4%
                               America
 1,656    1,976       (16)%    OPERATING       7,598       7,191       7,625         (6)%
                               PROFIT
                               - beia*
   695      709        (2)%      Europe        3,545       3,219       3,415         (6)%
   430      633       (32)%      North         1,711       1,705       1,869         (9)%
                               America
    68      125       (45)%      Africa,         494         449         493         (9)%
                               Middle
                               East &
                               Turkey
   205      302       (32)%      Asia            993         980       1,152        (15)%
                               and
                               Pacific
   258      207        24%       Latin          855          838         696         20%
                               America
  13.7%   16.4%                OPERATING       15.2%        15.2%       15.8%
                               MARGIN
                               - beia*

  14.1%   14.3%                Europe          16.4%        16.4%      16.6%
  15.3%   23.1%                North           15.4%        15.4%      16.8%
                               America
   7.1%   13.1%                Africa,         12.2%        12.1%      13.3%
                               Middle
                               East &
                               Turkey
  10.2%   14.8%                Asia            12.4%        12.5%      14.4%
                               and
                               Pacific
  18.4%   15.5%                Latin           16.4%        16.4%      14.1%
                               America

* Before exceptional items and amortisation of goodwill and intangibles

Earnings per share in US Dollars for the year

                          Constant rates            Current rates
                           2004         2003         2004         2003
                                     Thousands of units
Average number of
combined                963,407      968,907      963,407      968,907
share units of €0.51
Average number of
combined              1,605,679    1,614,844    1,605,679    1,614,844
share units of 5.6p

COMBINED EPS                           US $ Millions
Net profit                2,139        3,109        2,323        3,109
Less: Preference            (31)         (31)         (35)         (31)
dividends
Net profit
attributable to           2,108        3,078        2,288        3,078
ordinary capital

Combined EPS per          $2.19        $3.18        $2.38        $3.18
€0.51
Combined EPS per          $1.31        $1.91        $1.43        $1.91
5.6p

COMBINED EPS - beia*                   US $ Millions
Net profit                2,139        3,109        2,323        3,109
Add back exceptional
items net                 1,241           76        1,309           76
of tax
Add back
amortisation of
goodwill /                1,226        1,232        1,282        1,232
intangibles net of
tax
Net profit beia *         4,606        4,417        4,914        4,417
Less: Preference            (31)         (31)         (35)         (31)
dividends
Net profit
attributable to           4,575        4,386        4,879        4,386
ordinary capital -
beia *

Combined EPS - beia
* per                     $4.75        $4.53        $5.07        $4.53
€0.51
Combined EPS - beia       $2.85        $2.72        $3.04        $2.72
* per 5.6p

COMBINED EPS -                       Thousands of units
Diluted
Adjusted average
combined              1,012,545      998,141    1,012,545      998,141
share units of €0.51
Adjusted average
combined              1,687,575    1,663,569    1,687,575    1,663,569
share units of 5.6p

                                       US $ Millions
Adjusted net profit
attributable to
ordinary                  2,131        3,078        2,314        3,078
capital

Combined diluted EPS      $2.11        $3.08        $2.29        $3.08
per €0.51
Combined diluted EPS      $1.26        $1.85        $1.37        $1.85
per 5.6p
* Before exceptional items and amortisation of goodwill and intangibles




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

Note: A description of the exchange rate conventions used is given on page 16.

     Fourth Quarter         £ Millions -            Full Year
                            constant
                            rates
  2004    2003   % Incr./                     2004     2003   % Incr./
                  (Decr.)                                      (Decr.)
 7,436   7,392          1%  TURNOVER        29,046   29,682         (2)%
   (36)    (39)             Less: Share of    (142)    (172)
                            turnover of
                            joint
                            ventures
 7,400   7,353          1%  Group           28,904   29,510         (2)%
                            turnover
  (252)    987       (125)% Group operating  2,437    3,790        (36)%
                            profit/(loss)
     7       6              Add: Share of       32       32
                            operating
                            profit of joint
                            ventures
  (245)    993       (125)% OPERATING        2,469    3,822        (35)%
                            PROFIT/(LOSS)
 1,016   1,213        (16)% Operating        4,414    4,681         (6)%
                            profit beia *
(1,063)    (16)             Exceptional     (1,156)     (69)
                            items
  (198)   (204)             Amortisation of   (789)    (790)
                            goodwill and
                            intangibles
     6       8              Share of            32       17
                            operating
                            profit of
                            associates
     4       6              Other income        23       (2)
                            from fixed
                            investments
  (123)   (151)             Interest          (473)    (586)
    (1)    (27)             Other finance      (47)    (114)
                            income/(cost) -
                            pensions and
                            similar
                            obligations
  (359)    829       (143)% PROFIT/(LOSS)    2,004    3,137        (36)%
                            BEFORE
                            TAXATION
   192    (273)             Taxation          (557)  (1,056)
  (167)    556       (130)% PROFIT/(LOSS)    1,447    2,081        (30)%
                            AFTER
                            TAXATION
   (29)    (49)             Minority          (134)    (172)
                            interests
  (196)    507       (139)% NET PROFIT/      1,313    1,909        (31)%
                            (LOSS)
   703     713         (1)% Net profit beia* 2,827    2,712          4%
                            COMBINED
                            EARNINGS PER
                            SHARE
                            (Constant
                            rates)
 (3.11)   7.80       (140)% - per 1.4p       20.14    29.26        (31)%
                            ordinary PLC
                            share (pence)
 10.89   10.99         (1)% - per 1.4p       43.72    41.69          5%
                            ordinary PLC
                            share - beia *
                            (pence)
 (3.19)   7.56       (142)% - per 1.4p       19.38    28.40        (32)%
                            ordinary PLC
                            share - diluted
                            (pence)

* Before exceptional items and amortisation of goodwill and intangibles

NET PROFIT AND EARNINGS PER SHARE - CURRENT EXCHANGE RATES (unaudited)

Net profit and earnings per share given below are stated at current exchange
rates i.e. the results in both years have been translated at the exchange rates
prevailing during the appropriate period.

For further details of the results at current exchange rates and impact of
exchange rate movements see notes on page 16.

     Fourth Quarter        £ Millions -             Full Year
                           current rates
 2004    2003   % Incr./                      2004     2003   % Incr./
                 (Decr.)                                       (Decr.)
7,078   7,310         (3)% TURNOVER         27,373   29,682         (8)%
  (35)    (39)             Less: Share of     (134)    (172)
                           turnover of
                           joint ventures
7,043   7,271         (3)% Group turnover   27,239   29,510         (8)%
 (211)    982       (122)% Group operating   2,313    3,790        (39)%
                           profit/(loss)
    6       6              Add: Share of        30       32
                           operating profit
                           of joint
                           ventures
 (205)    988       (121)% OPERATING PROFIT  2,343    3,822        (39)%
                           /(LOSS)
  967   1,203        (20)% Operating profit  4,162    4,681        (11)%
                           beia *
 (986)    (15)             Exceptional      (1,083)     (69)
                           items
 (186)   (200)             Amortisation of    (736)    (790)
                           goodwill and
                           intangibles
    6       8              Share of             29       17
                           operating profit
                           of associates
    4       6              Other income         21       (2)
                           from fixed
                           investments
 (110)   (147)             Interest           (426)    (586)
   (1)    (27)             Other finance       (42)    (114)
                           income/(cost) -
                           pensions and
                           similar
                           obligations
 (306)    828       (137)% PROFIT/(LOSS)     1,925    3,137        (39)%
                           BEFORE
                           TAXATION
  170    (271)             Taxation           (530)  (1,056)
 (136)    557       (124)% PROFIT/(LOSS)     1,395    2,081        (33)%
                           AFTER TAXATION
  (27)    (49)             Minority           (123)    (172)
                           interests
 (163)    508       (132)% NET PROFIT/       1,272    1,909        (33)%
                           (LOSS) AT
                           EXCHANGE RATES
                           CURRENT IN EACH
                           PERIOD
  676     710         (5)% Net profit beia*  2,692    2,712         (1)%
                           COMBINED
                           EARNINGS PER
                           SHARE
                           (Current rates)

(2.60)   7.82       (133)% - per 1.4p        19.51    29.26        (33)%
                           ordinary PLC
                           share (pence)
10.46   10.95         (4)% - per 1.4p        41.61    41.69          0%
                           ordinary PLC
                           share - beia *
                           (pence)
(2.68)   7.58       (135)% - per 1.4p        18.78    28.40        (34)%
                           ordinary PLC
                           share - diluted
                           (pence)
                           Preference          (19)     (19)
                           dividends
                           Dividends on     (1,231)  (1,163)
                           ordinary
                           capital
                           Result for the       22      727
                           year retained

* Before exceptional items and amortisation of goodwill and intangibles

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES (unaudited)

£ Millions - current rates                              Full Year
                                                       2004       2003
Net profit                                            1,272      1,909
Pension - actuarial gains / (losses) net of tax        (308)       (20)
Currency retranslation                                   48        403
Total recognised gains / (losses) for the year        1,012      2,292

MOVEMENTS IN SHAREHOLDERS' EQUITY (unaudited)
£ Millions - current rates                               Full Year
                                                        2004      2003
Shareholders' equity as at 1 January                   4,190     3,058
Net profit                                             1,272     1,909
Dividends                                             (1,250)   (1,182)
Goodwill written back on disposals                        10        93
Change in book value of shares or certificates held     (220)     (276)
in connection with share options
Actuarial gains / (losses) on pension schemes net of    (308)      (20)
tax
Credit in respect of share option costs                  151       144
Currency retranslation                                    67       464
Shareholders' equity as at 31 December                 3,912     4,190

SUMMARY BALANCE SHEET (unaudited)
£ Millions - current rates                                As at 31
                                                          December
                                                        2004      2003
Goodwill and intangible assets                        10,842    12,535
Other fixed assets                                     4,576     4,850
Stocks                                                 2,657     2,955
Debtors                                                4,031     4,162
Cash and current investments                           1,840     2,367
Trade and other creditors                             (7,162)   (7,292)
                                                      16,784    19,577
Borrowings                                             8,517    11,252
Provisions for liabilities and charges (excluding
pensions and similar obligations)                      1,330     1,164
Net pension asset for funded schemes in surplus         (322)     (347)
Net pension liability for funded schemes in deficit    1,154     1,153
Net pension liability for unfunded schemes             1,937     1,854
Minority interests                                       256       311
Capital and reserves                                   3,912     4,190
                                                      16,784    19,577

CASH FLOW STATEMENT (unaudited)
£ Millions - current rates                             Full Year
                                                      2004       2003
Cash flow from group operating activities            4,646      4,689
Dividends from joint ventures                           41         36
Returns on investments and servicing of finance       (548)      (816)
Taxation                                              (934)      (983)
Capital expenditure and financial investment          (708)      (708)
Acquisitions and disposals                             215        429
Dividends paid on ordinary share capital            (1,166)    (1,186)
CASH INFLOW/(OUTFLOW) BEFORE MANAGEMENT OF LIQUID    1,546      1,461
RESOURCES AND FINANCING
Management of liquid resources                         (21)       (29)
Financing                                           (1,980)    (2,016)
INCREASE / (DECREASE) IN CASH IN THE PERIOD           (455)      (584)

RECONCILIATION OF CASH FLOW TO MOVEMENT IN NET DEBT (unaudited)
£ Millions - current rates                               Full Year
                                                       2004       2003
NET DEBT AT 1 JANUARY                                (8,885)   (11,036)
INCREASE / (DECREASE) IN CASH IN THE PERIOD            (455)      (584)
Cash flow from (increase) / decrease in borrowings    2,062      2,011
Cash flows arising in connection with finance           (87)         -
leases
Cash flow from increase / (decrease) in liquid           21         29
resources
Change in net debt resulting from cash flows          1,541      1,456
Borrowings within group companies acquired                -        (18)
Borrowings within group companies sold                   28          3
Liquid resources within group companies sold             (1)        (2)
Non cash movements                                     (216)       477
Currency retranslation                                  702        235
MOVEMENT IN NET DEBT IN THE PERIOD                    2,054      2,151
NET DEBT AT 31 DECEMBER                              (6,831)    (8,885)

OPERATIONAL ANALYSIS (unaudited)
    Fourth Quarter             £ Millions                         Full Year
    Constant Rates                              Current Rates           Constant Rates
 2004     2003      %                                   2004         2004      2003          % 
                  Incr./                                                                 Incr./   
                  (Decr.)                                                                (Decr.)
7,436    7,392        1%       TURNOVER                27,373      29,046    29,682         (2)%
4,065    4,032        1%       Foods                   15,400      16,230    16,727         (3)%
1,666    1,627        2%           Savoury and          5,694       6,023     5,950          1%
                                   Dressings
  911      936       (3)%          Spreads and          3,149       3,289     3,475         (5)%
                                   Cooking
                                   Products
  594      589        1%           Health &             2,174       2,334     2,468         (5)%
                                   Wellness
                                   and
                                   Beverages
  894      880        2%           Ice Cream            4,383       4,584     4,834         (5)%
                                   and Frozen
                                   Foods
3,329    3,274        2%       Home and                11,811      12,638    12,707         (1)%
                               Personal Care
1,244    1,264       (2)%          Home Care            4,599       4,854     4,998         (3)%
2,085    2,010        4%           Personal             7,212       7,784     7,709          1%
                                   Care
   42       86      (51)%      Other                      162         178       248        (28)%
                               Operations
1,016    1,213      (16)%      OPERATING                4,162       4,414     4,681         (6)%
                               PROFIT - beia *
  582      666      (13)%      Foods                    2,386       2,510     2,696         (7)%
  367      351        5%           Savoury and          1,058       1,117     1,034          8%
                                   Dressings
  169      183       (8)%          Spreads and            519         540       598        (10)%
                                   Cooking
                                   Products
   38      108      (65)%          Health &               265         283       364        (22)%
                                   Wellness
                                   and
                                   Beverages
    8       24      (66)%          Ice Cream              544         570       700        (19)%
                                   and Frozen
                                   Foods
  446      547      (19)%      Home and                 1,788       1,916     1,989         (4)%
                               Personal Care
  110      152      (28)%          Home Care              525         549       632        (13)%
  336      395      (15)%          Personal             1,263       1,367     1,357          1%
                                   Care
  (12)       -                 Other                      (12)        (12)       (4)      (169)%
                               Operations
 13.7%    16.4%                OPERATING                 15.2%       15.2%     15.8%
                               MARGIN - beia *
 14.3%    16.5%                Foods                     15.5%       15.5%     16.1%
 22.1%    21.6%                Savoury and               18.6%       18.6%     17.4%
                               Dressings
 18.5%    19.5%                    Spreads and           16.5%       16.4%     17.2%
                                   Cooking
                                   Products
  6.4%    18.5%                Health &                  12.2%       12.1%     14.8%
                               Wellness and
                               Beverages
  0.9%     2.7%                Ice Cream and             12.4%       12.4%     14.5%
                               Frozen Foods
 13.4%    16.7%                Home and                  15.1%       15.2%     15.7%
                               Personal Care
  8.8%    12.0%                    Home Care             11.4%       11.3%     12.6%
 16.1%    19.7%                    Personal              17.5%       17.6%     17.6%
                                   Care
(28.4)%   (0.3)%               Other                     (7.9)%      (7.0)%    (1.9)%
                               Operations

* Before exceptional items and amortisation of goodwill and intangibles

GEOGRAPHICAL ANALYSIS (unaudited)

        Fourth Quarter                  £ Millions                          Full Year
         Constant Rates                                    Current          Constant Rates
                                                             Rates
       2004     2003      % Incr./                            2004      2004      2003         % Incr./
                            (Decr)                                                              (Decr.)
      7,436    7,392           1%         TURNOVER          27,373    29,046    29,682              (2)%
      3,016    3,046          (1)%        Europe            11,805    12,021    12,647              (5)%
      1,726    1,684           3%         North America      6,097     6,788     6,822              (0)%
        595      583           2%         Africa, Middle     2,221     2,283     2,282               0%
                                          East & Turkey
      1,239    1,259          (2)%        Asia and Pacific   4,390     4,807     4,903              (2)%
        860      820           5%         Latin America      2,860     3,147     3,028               4%
      1,016      1,213       (16)%           OPERATING       4,162     4,414     4,681              (6)%
                                             PROFIT -
                                             beia *
        427        435        (2)%           Europe          1,942     1,976    2,096              (6)%
        263        388       (32)%           North             937     1,046    1,147              (9)%
                                             America
         42         77       (45)%           Africa,           271       276      303              (9)%
                                             Middle
                                             East &
                                             Turkey
        125        185       (32)%           Asia and          544       601      707             (15)%
                                             Pacific
        159        128        24%            Latin             468       515      428              20%
                                             America
       13.7%      16.4%                      OPERATING        15.2%     15.2%    15.8%
                                             MARGIN
                                             -beia*
       14.1%      14.3%                      Europe           16.4%     16.4%    16.6%
       15.3%      23.1%                      North            15.4%     15.4%    16.8%
                                             America
        7.1%      13.1%                      Africa,          12.2%     12.1%    13.3%
                                             Middle
                                             East &
                                             Turkey
       10.2%      14.8%                      Asia and         12.4%     12.5%    14.4%
                                             Pacific
       18.4%      15.5%                      Latin            16.4%     16.4%    14.1%
                                             America

* Before exceptional items and amortisation of goodwill and intangibles



Earnings per share in Sterling for the year

                          Constant rates            Current rates
                           2004         2003         2004         2003

                                     Thousands of units
Average number of
combined              6,422,715    6,459,377    6,422,715    6,459,377
share units of 1.4p

COMBINED EPS                             £ Millions
Net profit                1,313        1,909        1,272        1,909
Less: Preference            (19)         (19)         (19)         (19)
dividends
Net profit
attributable to           1,294        1,890        1,253        1,890
ordinary capital

Combined EPS per          20.14        29.26        19.51        29.26
1.4p

COMBINED EPS - beia*                     £ Millions
Net profit                1,313        1,909        1,272        1,909
Add back exceptional
items net                   762           47          717           47
of tax
Add back
amortisation of
goodwill /                  752          756          703          756
intangibles net of
tax
Net profit beia *         2,827        2,712        2,692        2,712
Less: Preference            (19)         (19)         (19)         (19)
dividends
Net profit
attributable to           2,808        2,693        2,673        2,693
ordinary capital -
beia *

Combined EPS - beia       43.72        41.69        41.61        41.69
* per 1.4p

COMBINED EPS -                       Thousands of units
Diluted
Adjusted average
combined              6,750,301    6,654,276    6,750,301    6,654,276
share units of 1.4p

                                         £ Millions
Adjusted net profit
attributable to
ordinary                  1,308        1,890        1,268        1,890
capital

Combined diluted EPS      19.38        28.40        18.78        28.40
per 1.4p

* Before exceptional items and amortisation of goodwill and intangibles



                      This information is provided by RNS
            The company news service from the London Stock Exchange