Pinewood Studios Sold for £62m & Acquisition News

Rank Group PLC
22 February 2000


DISPOSAL OF PINEWOOD STUDIOS FOR £62 MILLION

ACQUISITION OF DVD FACILITY FROM PIONEER FOR £11 MILLION

Disposal of Pinewood Studios

The  Rank Group Plc announces the sale of Pinewood Studios to  a
consortium led by Michael Grade and Ivan Dunleavy, and backed by
3i  plc,  for a consideration of £62 million.  The consideration
will  be satisfied by cash of £55.5 million and an interest free
loan note of £6.5 million, repayable in 2007.

Pinewood   Studios,  located  just  west  of  London,   provides
comprehensive studio facilities for producers of feature  films,
television  programmes and commercials.  For the year  ended  31
December  1998 Pinewood Studios' turnover was £13.2 million  and
its  operating profit before exceptional items was £4.4 million.
Net assets, excluding inter-company debt, as at 31 December 1998
were £13.9 million.

Acquisition of DVD facility from Pioneer

The Rank Group Plc also announces that Deluxe Video Services has
entered  into  an  agreement  to acquire  a  DVD  authoring  and
replication facility from Pioneer Video Manufacturing,  Inc.,  a
subsidiary of Pioneer North America, for a consideration of  £11
million.

A  further £6 million will be invested in the facility,  located
in  Los  Angeles, to increase the present capacity, with further
expansion possible to meet the increasing demand from customers.
In addition, Deluxe has gained a contract for Pioneer's existing
VHS and DVD volume in the USA.


Enquiries:

The Rank Group Plc
Kate Ellis-Jones, Investor Relations - 0171 706 1111

The Maitland Consultancy
Laura Frost - 0171 379 5151