Statement re Rentokil Initial plc

Raphoe  Management
                  

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")

On 17th October, 2005, Raphoe announced it was continuing discussions with
Rentokil shareholders against a background of having agreed to the principle of
a framework of performance criteria to be met in order for the financial
arrangements set out in its statement of 8th September to apply.

These discussions have continued until this morning, but have regrettably not
resulted in an agreement being reached that was satisfactory to the parties
involved. Accordingly they have been terminated.

Sir Gerry Robinson said, "I am sorry that we have not found the right way
forward. This was a genuine attempt to make a change with the existing
shareholders staying involved. This has been an unsettling time for employees of
Rentokil Initial and I apologise for that. I wish them and Doug Flynn every
success for the future."


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