Issue of Debt

Rentokil Initial PLC
31 October 2001


                             RENTOKIL INITIAL plc


Rentokil Initial plc announces the issue of £250 million of 7 year bonds. The
annual coupon on the bonds has been set at 6.125%. The bonds will be repayable
at par on 19 November 2008.

The bonds will be issued under a Euro Medium Term Note Programme which is in
the process of being established. Application is being made for bonds issued
under the programme to be admitted to the Official List of the Financial
Services Authority and to be admitted to trading on the London Stock Exchange.

The net proceeds of the bond issue will be used for general corporate purposes
as part of the company's refinancing programme.

                                     END