Capital Reorganisation

Rentokil Initial PLC
21 June 2005



RENTOKIL INITIAL plc


Capital Reorganisation of the Rentokil Initial group

Scheme of Arrangement becomes effective


At a hearing of the High Court (the 'Court') on 20 June 2005, the Court
sanctioned the proposed scheme of arrangement of Rentokil Initial plc ('Rentokil
Initial') under section 425 of the Companies Act 1985 (the 'Scheme') to
introduce a new listed group holding company, Rentokil Initial 2005 plc ('New
Rentokil Initial').


The Scheme became effective at 8.00am today, 21 June 2005, and the new New
Rentokil Initial shares were admitted to the Official List and to trading on the
London Stock Exchange's market for listed securities at that time. In addition,
the name of New Rentokil Initial was changed to Rentokil Initial plc and the
name of Rentokil Initial to Rentokil Initial 1927 plc at that time.


Under the terms of the Scheme, holders of Rentokil Initial shares at the Scheme
Record Time (which was 6.00pm on 20 June 2005) have received one new New
Rentokil Initial share for each Rentokil Initial share held and cancelled
pursuant to the Scheme.


The Court is expected to approve the reduction of capital of New Rentokil
Initial (the 'Reduction of Capital') at a hearing on 22 June 2005. The Reduction
of Capital is expected to become effective on 23 June 2005, whereupon the
nominal value of a New Rentokil Initial ordinary share will be reduced from
GBP1.00 to 1 penny.


For further information please contact:

Rentokil Initial

Roger Payne, Finance Director Tel: [phone]

Charles Grimaldi, Investor Relations Tel: [phone]

UBS Investment Bank

Emma Goodrick Tel: [phone]

Jonathan Bewes Tel: [phone]

UBS Limited is acting for Rentokil Initial and New Rentokil Initial and no-one
else in connection with the Scheme and the Reduction of Capital and,
accordingly, will not be responsible to anyone other than Rentokil Initial and
New Rentokil Initial for providing the protections afforded to its clients nor
for providing advice in relation to the Scheme or the Reduction of Capital or 
any other matters referred to in the Listing Particulars published by New 
Rentokil in connection with the reorganisation, the circular sent by Rentokil 
Initial relating to the Scheme or herein.





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