General Mills Reaffirms Fiscal 2013 Earnings Guidance

  General Mills Reaffirms Fiscal 2013 Earnings Guidance

Business Wire

MINNEAPOLIS -- November 14, 2012

In remarks today at the Morgan Stanley Global Consumer and Retail Conference
in New York, General Mills (NYSE: GIS) said it was on track to achieve its key
financial targets for the fiscal year ending May 2013. The company reaffirmed
guidance for 2013 adjusted diluted earnings per share of approximately $2.65.

General Mills’ complete presentation can be accessed on the company’s website: through November 28, 2012.

This press release contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995 that are based on
management’s current expectations and assumptions. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from the potential results discussed in
the forward-looking statements. In particular, our predictions about future
net sales and earnings could be affected by a variety of factors, including:
competitive dynamics in the consumer foods industry and the markets for our
products, including new product introductions, advertising activities, pricing
actions and promotional activities of our competitors; economic conditions,
including changes in inflation rates, interest rates or tax rates; product
development and innovation; consumer acceptance of new products and product
improvements; consumer reaction to pricing actions and changes in promotion
levels; acquisitions or dispositions of businesses or assets; changes in
capital structure; changes in laws and regulations, including labeling and
advertising regulations; impairments in the carrying value of goodwill, other
intangible assets, or other long-lived assets, or changes in the useful lives
of other intangible assets; changes in accounting standards and the impact of
significant accounting estimates; product quality and safety issues, including
recalls and product liability; changes in consumer demand for our products;
effectiveness of advertising, marketing and promotional programs; changes in
consumer behavior, trends and preferences, including weight loss trends;
consumer perception of health-related issues, including obesity; consolidation
in the retail environment; changes in purchasing and inventory levels of
significant customers; fluctuations in the cost and availability of supply
chain resources, including raw materials, packaging and energy; disruptions or
inefficiencies in the supply chain; volatility in the market value of
derivatives used to hedge price risk for certain commodities; benefit plan
expenses due to changes in plan asset values and discount rates used to
determine plan liabilities; failure of our information technology systems;
resolution of uncertain income tax matters; foreign economic conditions,
including currency rate fluctuations; and political unrest in foreign markets
and economic uncertainty due to terrorism or war. The company undertakes no
obligation to publicly revise any forward-looking statements to reflect any
future events or circumstances.


General Mills
Kris Wenker, 763-764-2607
Kirstie Foster, 763-764-6364
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