Disposal

Rentokil Initial PLC 8 January 2001 RENTOKIL INITIAL'S DISPOSAL PROGRAMME Rentokil Initial announces the sale of Initial Personnel Services Ltd, its UK personnel services business, to Ingleby (1367) Ltd (an acquisition company backed by Bridgepoint Capital Ltd) for £23.5m with £21.2m of this in cash and the balance of £2.3m in loan notes In 1999 the business had turnover of £74.4m and operating profits of £3.9m. Commenting on the disposal, Chief Executive, Sir Clive Thompson, said:- 'Total proceeds of our disposals are now £617m thereby exceeding our target of at least £600m. Following this huge restructuring programme, we can now concentrate single mindedly on growing our revamped business which is now highly cash generative and substantially non cyclical.' Press enquiries: Sir Clive Thompson, Chief Executive C T Pearce, Finance Director 01342 833022
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