re: Rentokil Initial plc

Raphoe  Management
                  

                         Rentokil Initial plc

Raphoe Management Limited

17 October 2005

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM AUSTRALIA, CANADA,
JAPAN OR THE UNITED STATES

                 Raphoe Management Limited ("Raphoe")

      Statement in relation to Rentokil Initial plc ("Rentokil")

Following the announcement on 22nd August, 2005, that it was considering making
an offer for Rentokil, Raphoe has had discussions with a large number of
Rentokil shareholders. Raphoe's advisers also have met with Rentokil's advisers.

In discussions with a number of shareholders, Gerry Robinson has agreed to adopt
a framework of performance criteria to be met in order for the financial
arrangements set out in Raphoe's announcement of 8th September, 2005 to apply.
Raphoe understands that on this basis, shareholders have entered into
discussions with the Board of Rentokil.

This being the case, Raphoe has concluded that it will not be necessary to make
an offer for Rentokil and accordingly now states that it has no further
intention of doing so.

Discussions with shareholders will continue and Raphoe believes it to be in the
interests of shareholders and employees of Rentokil that these be brought to a
conclusion by Monday 24th October.


Contacts:

Sir Gerry Robinson
c/o Cubitt Consulting                             020 7367 5100

Europa Partners Limited:
David von Simson                                  020 7661 9338

Cubitt Consulting:
Simon Brocklebank-Fowler                          020 7367 5100