Issue of Debt

Rank Group PLC
09 May 2003

PRIVATE PLACEMENT RAISES £336 MILLION (US $538 MILLION)


The Rank Group Plc is pleased to announce that through its wholly-owned
subsidiary, Rank Group Finance Plc, it has successfully raised £336 million (US
$538 million) through a private placement of senior notes (the 'Notes') to a
number of leading US and UK investors, predominantly insurance companies. The
proceeds from the placement will be used to refinance existing obligations of
the Group. Banc of America Securities LLC acted as sole agent and financial
advisor.


The Notes, which are unsecured, were issued in US dollars and £ sterling in five
tranches, and have maturities ranging from four to twelve years (with the
average term being 8.7 years) and an average coupon of 5.5% per annum.


Mike Smith, Chief Executive, commented:


'This placement demonstrates the great confidence of both US and UK institutions
in the Group and its business strategy. The financing provides the Group with
long term funding at attractive rates and gives us the opportunity to strengthen
and realign the Group's capital structure to support its continued development.'

ENQUIRIES:
The Rank Group                                              Tel: [phone]
Sam Wren, Group Treasurer
Peter Reynolds, Director of Investor Relations

PRESS ENQUIRIES:
The Maitland Consultancy                                    Tel: [phone]
Angus Maitland
Suzanne Bartch


RG 05/03



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