Exhibit 11

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

	Thirteen Weeks Ended				Thirty-nine Weeks Ended
	Feb. 22, 2004		Feb. 23, 2003		Feb. 22, 2004		Feb. 23, 2003
Net Earnings	$	242	$	240	$	777	$	692
Average Number of Common Shares –
Basic EPS (a)		375		369		374		368
Incremental Share Effect from:
—  Stock options (b)		8		9		9		8
—  Restricted stock, stock rights and puts		—		1		—		1
Average Number of Common Shares –
Diluted EPS		383		379		383		377
Earnings per Share – Basic	$	.64	$	.65	$	2.08	$	1.88
Earnings per Share – Diluted	$	.63	$	.63	$	2.03	$	1.84

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.

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