Exhibit 11

GENERAL MILLS, INC.
COMPUTATION OF EARNINGS PER SHARE
(In Millions, Except per Share Data)

	Thirteen Weeks Ended
	Aug. 24, 2003		Aug. 25, 2002
Net Earnings	$	227	$	176
Average Number of Common Shares –
Basic EPS (a)		372		367
Incremental Share Effect from:
–Stock options (b)		10		8
–Restricted stock, stock rights
and puts		—		1
Average Number of Common Shares –
Diluted EPS		382		376
Earnings per Share – Basic	$	.61	$	.48
Earnings per Share – Diluted	$	.59	$	.47

Notes to Exhibit 11:

(a) Computed as the weighted average of net shares outstanding on stock-exchange trading days.

(b) Incremental shares from stock options are computed by the “treasury stock” method. This method first determines the number of shares issuable under stock options that had an option price below the average market price for the period, and then deducts the number of shares that could have been repurchased with the proceeds of options exercised.