Issue of Debt

Rentokil Initial PLC Pricing Supplement dated 17 May 2004 RENTOKIL INITIAL PLC Issue of USD10,000,000 Floating Rate Notes due 17 May 2007 under the EUR 2,500,000,000 Euro Medium Term Note Programme This document constitutes the Pricing Supplement relating to the issue of Notes described herein. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Offering Circular dated 9 June 2003. This Pricing Supplement is supplemental to and must be read in conjunction with such Offering Circular. 1. (i) Series Number: 15 (ii)Tranche Number: 1 2. Specified Currency or Currencies: United States Dollars ('USD') 3. Aggregate Nominal Amount: USD10,000,000 4. (i) Issue Price: 100.00 per cent. of the Aggregate Nominal Amount (ii)Net Proceeds: Not Applicable 5. Specified Denominations: USD100,000 6. (i) Issue Date: 17 May 2004 (ii)Interest Commencement Date: 18 May 2004 7. Maturity Date: 17 May 2007 8. Interest Basis: Floating Rate (further particulars specified below) 9. Redemption/Payment Basis: Redemption at par 10. Change of Interest Basis or Not Applicable Redemption/Payment Basis: 11. Put/Call Options: Not Applicable 12. Listing: London 13. Method of distribution: Non-syndicated PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE 14. Fixed Rate Note Provisions Not Applicable 15. Floating Rate Note Provisions Applicable from and including 18 May 2004 to but excluding 17 May 2007 (i) Specified Period(s)/Specified Quarterly. 17 February, 17 May, 17 Interest August and 17 November in each year Payment Dates: from and including 17 August 2004 to and including 17 May 2007 (ii) Business Day Convention: Modified Following Business Day Convention (iii) Additional Business London Centre(s): (iv) Manner in which the Rate of Screen Rate Determination Interest and Interest Amount is to be determined: (v) Party responsible for calculating the Rate of Interest Not Applicable and Interest Amount (if not the Agent) (vi) Screen Rate Determination: -- Reference Rate: 3 month USD LIBOR -- Interest Determination Date(s): Second London Business day prior to the start of each Interest Period -- Relevant Screen Page: Telerate page 3750 If the Telerate Page '3750' is unavailable or cancelled, the fall back provisions described under the Definition of 'USD-LIBOR-BBA' contained within the Annex to the 2000 ISDA Definitions shall apply. (vii) ISDA Determination: -- Floating Rate Option: Not Applicable -- Designated Maturity: Not Applicable -- Reset Date: Not Applicable (viii) Margin(s): +0.35 per cent. per annum (ix) Minimum Rate of Interest: Not Applicable (x) Maximum Rate of Interest: Not Applicable (xi) Day Count Fraction: Actual/360 (xii) Fall back provisions, rounding provisions and any other terms relating to the method of calculating interest on Floating Rate Notes, if different from those set out in the Conditions: Not Applicable 16. Coupon Note Provisions Not Applicable 17. Index Linked Note Interest Provisions Not Applicable 18. Dual Currency Note Provisions Not Applicable PROVISIONS RELATING TO REDEMPTION 19. Issuer Call Not Applicable 20. Investor Put Not Applicable 21. Final Redemption Amount of each Note Nominal Amount 24. Early Redemption Amount of each Note payable on As set out in the Condition 6(e) redemption for taxation reasons or an event of default and/or the method of calculating the same (if required or if different from that set in the Condition 6(e)): GENERAL PROVISIONS APPLICABLE TO THE NOTES 23. Form of Notes: Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes only upon an Exchange Event. 24. Addiional Financial Centre(s) or other special London provisions relating to Payment Dates: 25: Talons for future Coupons or receipts to be No. to Definitive Notes (and dates on which such Talons mature): 26: Details relating to Partly Paid Notes: amount of each payment comprising the Issue Price and date on which each payment is to be made and consequences of failure to pay, including any right of the Issuer to forfeit the Notes and interest due on late payment. Not Applicable 27. Details relating to Instalment Notes: (i) Instalment Amounts: Not Applicable (ii) Instalment Dates: Not Applicable 28. Redonomination applicable; Redenomination not applicable 29. Other terms or special conditions: Not Applicable DISTRIBUTION 30. (i) If syndicated, names of Managers: Not Applicable (ii) Stabilising Mananger (if any): Not Applicable 31. If non-syndicated, name of Dealer: BNP Paribas 32. Whether TEFRA C TEFRA D rules TEFRA D rules applicable 33. Additional selling restrictions: Not applicable OPERATIONAL INFORMATION 34. Any clearing system(s) other than Euroclear and Clearstream, Luxembourg and the relevent identification number(s): Not applicable 35. Delivery: Delivery against payment 36. Additional Paying Agent(s) (if any): Not applicable ISIN: XS0192690278 Common Code: 19269027 LISTING APPLICATION This Pricing Supplement comprises the details required to list the issue of Notes described herein pursuant to the £2,500,000,000 Euro Medium Note Programme of Rentokil Initial plc. RESPONSIBILITY The Issuer accepts all responsibility for the information contained in this Pricing Supplement. Signed on behalf of the Issuer: By: Roger Payne Robert Ward Jones Finance Director Commpany Secretary
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