Agreement with Inland Revenue

Rank Group PLC
1 October 2001

                              THE RANK GROUP Plc

                        AGREEMENT WITH INLAND REVENUE



The Rank Group Plc announces that the Inland Revenue has agreed to close its
enquiries in respect of the acquisition in 1995 by Xerox Corporation of 40% of
the Group's financial interest in Rank Xerox. The agreement with the Inland
Revenue was reached for no cash payment.


Xerox Corporation's acquisition of the Group's interest in Rank Xerox was made
in two stages. In February 1995, 40% of the Group's financial interest was
acquired for cash of £620m and in June 1997 the remaining interest was
acquired for cash of £940m. Discussions are continuing with the Inland Revenue
in relation to the 1997 transaction.


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Enquiries:

The Rank Group Plc - 020 7706 1111

Ian Dyson, Finance Director

Kate Ellis-Jones, Investor Relations



RG/05/01