Annual Results 2000

Reckitt Benckiser PLC
28 February 2001

28 February 2001



                                PRESS RELEASE

              2000 - Targets Exceeded and Merger Phase Completed

              2001 - Targets Confirm Growth Potential of Business



Results at a glance                         Q4   % change     2000    % change

                                                           Full Year
Net Revenues (continuing operations)       £859m      +11%    £3,160m       +7%
Operating Profit (continuing operations)1  £148m      +51%      £440m      +30%
Operating Profit 1                         £148m      +44%      £451m      +26%
Net Income 1                                £97m      +62%      £275m      +38%
Net Income (as reported)                   £109m                £314m
        1 Adjusted to exclude non-operating items and merger integration costs.



  * Exceptionally strong Q4 results and earlier delivery of merger savings
    contribute to net revenue and net income ahead of targets.
  * Net Revenues for the full year from continuing operations grew by 7% to
    £3,160m. Total net revenues, including discontinued businesses, grew by 5%
    (constant 6%) to £3,202m.
  * Gross Margin in 2000 improved by110 basis points to 48.8% due to merger
    procurement savings, higher margin launches and early results of Squeeze
    2-50.
  * Operating Margin on continuing operations improved 250 basis points to
    13.9%.
  * Net cost savings from the merger (after marketing increases) were £60m.
  * Operating Profit from continuing operations of £440m, +30%. Normalized
    operating profit of £451m +26%.
  * Net Income normalized was £275m + 38%. Including non-operating profits,
    total net income was £314m (1999: loss of £37m.)
  * Net working capital reduced by £145m. Year-end net debt was £595m.
  * Final dividend of 12.8 pence recommended, full year payout at 25.5
    pence.

Commenting today, Bart Becht, Chief Executive Officer, said:

'2000 was a fantastic year. It saw Reckitt Benckiser firmly established as the
world leader in household cleaning and clearly delivering on its merger
promises. We completed the merger integration, achieved merger savings well
ahead of schedule, sold many of the non-strategic businesses and set in train
a new growth strategy that has turned the business around. Net revenues for
continuing operations grew by 7%, well ahead of original targets and the
remainder of the industry. Normalized net income grew by 38% to £275 million
and net working capital reduced by £145 million, both ahead of original
target.

The merger phase is now over, allowing us to pursue even more intensely our
new growth strategy. Based on this, our targets for 2001 are to grow net
revenues by 4% on continuing operations at constant exchange, to grow net
income by 18% on continuing operations and to reduce net working capital by a
further £50 million. Achievement of these targets will further reinforce the
company's global leadership position and confirm its commitment to shareholder
value creation.'

                             Detailed Commentary

                            Basis of Comparatives

For clarity in evaluating the underlying performance of the business, the
following terminology is used:

  * Continuing Operations. Excludes net revenues and operating profit
    relating to businesses sold at the end of 1999 and during the course of
    2000. For Q4 net revenues from discontinued businesses amount to £1m (1999
    £20m) and operating profit was nil (1999 £5m). For the full year, net
    revenues from discontinued businesses were £42m (1999 £87m) and operating
    profits were £11m (1999 £18m).
  * Normalized. This excludes non recurring items:
  * Reorganization charges. Q4 and Full Year 2000 have no charges for
    reorganization (Q4 1999 : £181m charge, Full Year 1999: £220m charge).
  * Non operating items. Profits on disposal of businesses and fixed assets
    were £16m in Q4 (1999 £25m) and £56m in the full year (1999 £22m).
  * Constant Exchange. Movements of exchange rates relative to sterling
    affect actual results as reported. The constant exchange rate basis
    adjusts comparisons to exclude such movements and show the underlying
    growth.

The detailed financial schedules attached to the release contain full details
of the results as reported and as adjusted for these factors.

Fourth Quarter 2000

Q4 net revenues, in part helped by the comparison to a weak Q4 in 1999, grew
by an exceptionally strong 8% (6% constant) to £860m (£794m in 1999). Net
revenues from continuing operations grew by an exceptional 11% (9% constant)
to £859m (1999 £774m).

Operating profit for Q4 was £148m (1999 loss of £78m). Normalized operating
profit from continuing operations increased by 51% to £148m (1999 £98m). Gross
margin increased by 200 basis points to 49.7% (47.7% in 1999) due to merger
procurement benefits, significantly higher volume throughput in the quarter
and the early benefits of the Squeeze 2-50 cost of goods program. The benefit
to operating profits in the quarter from merger savings was £20m after
increases in marketing investment. Normalized operating margins improved by
420 basis points to 17.2%, and on a continuing operations basis by 450 basis
points to 17.2%.

Net income was £109m (1999 loss of £135m). Normalized net income was £97m
(1999 £60m), an increase of 62%.

Full Year 2000 - summary

Net revenues grew by 5% (6% constant) to £3,202m (1999 £3,054m). The company's
strategy of refocusing on its core categories and improving sales and
marketing execution, supported by higher marketing investment resulted in net
revenues from continuing operations growing 7% at actual and constant to £
3,160m (1999 £2,967m). Net revenues benefited also from comparison to an
unusually low Q1 in 1999 due to trade de-loading, and to a weak Q4 in 1999.

Operating Profit was £451m (1999 £137m after reorganization charges).
Normalized operating profit increased by 26% to £451m (£357m). Normalized
operating profit from continuing operations increased by 30% to £440m (1999 £
339m). Gross margins increased by 110 basis points to 48.8% (1999 47.7%) due
to merger procurement benefits and synergies, higher volume throughput and
early Squeeze 2-50 benefits offset by some higher input costs due to increases
in oil and pulp prices. Merger cost savings added £60m to operating profits
after higher reinvestment in marketing. Media investment increased to 10% of
net revenues. Normalized operating margins increased by 240 basis points to
14.1% (1999 11.7%). On a continuing operations basis, operating margins
increased by 250 basis points to 13.9% (1999 11.4%).

Net income for the year was £314m (1999 after reorganization and merger costs,
loss of £37m). Normalized net income was £275m (1999 £200m) an increase of
38%. Net interest expense of £60m (1999 £69m) was lower due to cash inflow in
the second half year from higher operating profits, disposal proceeds and
reductions in net working capital offset by cash spend on reorganization. The
tax rate for the year was marginally below 30%, in line with earlier
expectations.

Category Review at constant exchange rates.

Fabric Care net revenues in Q4 grew by 4% and in the full year by 4% to £814m.
Fabric treatment benefited from the roll out of Vanish in-wash booster in Asia
and Latin America. Calgon water softener grew strongly in Europe behind a
highly effective marketing campaign. Laundry detergent showed strong growth
with market share gains in Europe and the roll out of tabs in private label.

Surface Care net revenues grew by 4% in Q4 and by 7% in the full year to £
764m. Lysol disinfecting spray continued to regain market share and the launch
of wipes has already secured a significant share of this new category. The
roll out of wipes internationally contributed to growth. Lavatory care showed
strong growth in USA and particularly in Australia/New Zealand where market
leadership was recaptured behind the new toilet rim gel dispenser.
Multi-purpose cleaners grew strongly due to the successful relaunch of Veja in
Brazil behind the 'perfumes from nature' range.

Dishwashing net revenues grew by 6% in Q4 and by 1% in the full year to £413m.
Performance in Europe was strong behind the successful roll out of 2-in-1,
which has seen record market shares achieved in UK, France, and Netherlands.
Merger transition issues and the repositioning of Electrasol at higher prices
constrained performance in North America. Share has grown substantially in
Australia/New Zealand.

Home Care net revenues grew by 37% in Q4 and by 21% in the full year to £371m.
The launch of Wizard electrical air freshener in the USA was a major success,
almost doubling market share in its first six months. In Europe, the launch of
Air Wick 'Crystal Air' was similarly successful, substantially enhancing net
revenue growth and market share in France, UK, Spain and Italy. Pest control
grew strongly in Asia due to successful innovations such as Mortein 'king'
coils and 'fastkill', and the roll out of the category in China.

Health & Personal Care net revenues grew by 14% in Q4 and by 12% in the full
year to £388m. Strong growth came from Veet depilatories in Western Europe
behind innovations, and from the introduction of the brand in Eastern Europe.
Veet has been introduced into Brazil and Mexico in Q4. Dettol antiseptic grew
in Asia due to increased investment and much improved execution, supported by
the launch of new soap and talc extensions. Analgesics performed strongly in
UK and Pakistan.

Core Household business net revenues grew by 10% in Q4 and by 8% in the full
year to £2,750m (1999 £2,585m). Non core, other household net revenues grew 3%
in the year to £207m after stripping out the contribution of discontinued
businesses. This brings total household net revenues for the year to £2,957m,
an increase of 7%.

Food net revenues grew by 7% in Q4 and by 7% in the full year to £203m
supported by strong performance of French's Mustard and Frank's Red Hot sauce.

Geographic Analysis at constant exchange and from continuing operations

Western Europe: 41% of net revenues

Net revenues grew by 10% in Q4 and by 5% for the year to £1,302m. This strong
performance was due to the success of Air Wick Crystal Air, the successful
roll out of Calgonit 2-in-1 in automatic dishwashing, innovations and
investment behind the Veet depilatory brand, share gains in laundry detergent
in Southern Europe and a strong year for the UK health care business.
Operating margins expanded by 250 basis points to 21.2% behind gross margin
expansion and fixed cost savings due to merger synergies. Operating profit
increased by 18% to £276m (1999 £246m).

North America: 30% of net revenues

Net revenues grew by 4% in Q4 and by 5% for the year to £962m. Net revenue
growth benefited from the first quarter bounceback and from particularly
strong performance in air care. The outstanding success of the Wizard
Electrical launch in the second half of the year almost doubled market share.
Lysol continued to recapture market share in disinfecting sprays, while the
new wipes expanded the category and gained a strong initial share. Food had a
strong year. Operating margin expanded by 290 basis points to 13.3% due to
significant improvements in gross margin and fixed cost savings due to merger
synergies. Operating profit increased 34% to £128m (1999 £90m).

Latin America: 8% of net revenues

Net revenues grew by 24% in Q4 and by 15% in the year to £239m. Growth came
from the Veja franchise's success with 'perfumes from nature' range and new
market launches, from strong growth for pest control in Brazil, and from new
launches including Vanish fabric treatment. Operating margins improved by 20
basis points to 2.5%. Operating profits increased by 10% or £1m to £6m (1999 £
5m).

Asia Pacific: 11% of net revenues

Net revenues grew 19% in Q4 and by 14% in the year to £341m. In Australia/New
Zealand growth came from the launch of Crystal Air, in-wash fabric treatment,
from the success of Harpic in toilet bowl gel dispenser and from strong
performance in dishwashing. In Asia, growth came in pest control due to a
number of innovations, including Mortein 'fastkill' and 'king' coils and mats,
plus the roll out of the category in China, and from the roll out of Vanish
in-wash in the region. Dettol responded to investment and better execution,
helped by new launches in soap and talc. Operating margins expanded 450 basis
points to 3.8% due to significant improvements in gross margin in Asia and
fixed cost savings in Australia/New Zealand due to merger synergies. Operating
profits improved substantially to £13m (1999 loss of £2m).

Rest of World: 10% of net revenues

Net revenues grew by 3% in Q4 and by 12% in the year to £316m. Key drivers of
growth were the roll out of Veet depilatories and strong performance by Calgon
water softener and Calgonit dishwashing in Eastern Europe, together with good
growth for Dettol in Africa behind better in-market execution. Operating
margins expanded by 230 basis points to 8.5% due to substantial gross margin
improvement and tight control of fixed costs. Operating profits increased by
52% to £27m (1999 £18m).

New Initiatives: 2001

New initiatives already announced for 2001 include the launch of Calgonit
3-in-1 automatic dishwashing detergent plus rinse agent plus salt in Europe,
and Electrasol 2-in-1 automatic dishwashing detergent plus rinse agent in
North America. The geographical roll out program has seen the launch of Vanish
in-wash liquid in fabric treatment in Thailand, the launch of Veet depilatory
in Brazil, Mexico and Turkey, and the launch of Calgonit dishwashing products
in South Africa. Air care, led by Crystal Air, has been launched in
Netherlands, Norway, Sweden and Finland, while Disinfecting cleaners have been
rolled out into Switzerland and Austria.

Financial Review

Non-operating items. Profit on disposal of businesses was £56m (1999 £21m).
This relates to the continuing program to dispose of the non-strategic tail.
Businesses sold in 2000 include various personal care brands in Australia,
Epilim, Undesa & Mirachem fatty acids and plant care. There were no profits on
disposal of tangible fixed assets, other than businesses, in 2000 (1999 £1m).

Net interest. Interest payable less receivable on the Company's outstanding
net borrowings (borrowings less cash deposits and short-term investments) was
£42m (1999 £51m). The reduction was due to cash inflow from operations,
working capital and disposals slightly offset by higher short-term interest
rates. In addition a coupon of £18m was payable on the convertible capital
bonds.

Profit before tax was £447m (1999 £52m). Normalized profit before tax was £
391m (1999 £289m).

Tax. Tax on profit for the year was £132m, a rate of 30% on the profit of £
447m.

Profit after tax. After profit attributable to minority equity holders of £1m,
the profit for the period was £314m (1999 loss of £37m). Normalized profit for
the period was £275m (1999 £200m) excluding reorganization and other merger
costs and non-operating items.

Cash Flow

Cash flow from operating activities increased by £94m or 23% to £502m (1999 £
408m). This was after much higher cash expenditure on reorganization of £117m
(1999 £26m) more than offset by the reduction of £145m in working capital.
Operating cash flow therefore represented 111% of normalized operating profit.

Net capital expenditure was £96m (1999 £73m). Net cash flow increased by 24%
to £265m (1999 £213m). Excluding merger and reorganization expenses, net cash
flow increased by 38% to £382m (1999 £277m). This represents a cash conversion
of 11.9% of net revenues (1999 9.1%).

Net proceeds from the Company's disposal program in the year were £81m.
Dividends of £177m (1999 £180m) were paid. Cash inflow before use of liquid
resources and financing was therefore £169m (1999 £30m). Net borrowings
reduced by £141m to £595m (1999 £736m).

Balance sheet and financing

At the end of 2000 the group had shareholders funds of £1,116m (£945m), an
increase of 18%. Net borrowings were £595m (1999 £736m). Total capital
employed in the business was £1,727m (1999 £1,698m).

This financed fixed assets of £2,173m (1999 £2,051m) and net current
liabilities (excluding short-term borrowings, cash and investments) of £38m
(1999 assets of £107m).

Net borrowings consisted of gross borrowings of £534m (1999 £735m) and the
outstanding convertible capital bond of £194m (1999 £194m) offset by cash
deposits and short-term investments of £133m (1999 £193m).

Exchange rate differences have increased net borrowings by £46m, and net
assets by £15m.

The Company's financial ratios improved during the year. Interest cover on a
normalized basis was 7.5 times (1999 5.2 times). Net borrowings represented
34% of capital employed (1999 43%) treating convertible bonds as borrowings.

Earnings per share. Details of the calculation of earnings per share are
contained in the accompanying notes to the Profit & Loss Account. These take
account of the holding of JAB in 'A' shares of Reckitt Benckiser Holdings BV.

Dividends

The Board of Directors recommends a final dividend of 12.8 pence to give a
full year total of 25.5 pence, unchanged, and in line with the previously
communicated policy of maintaining absolute dividends until cover reaches the
average of the international industry peer group. This full year dividend is
covered 1.5 times by normalized profit for the year (1999 1.3 times). The
ex-dividend date will be 7th March, and the dividend will be paid on 23 May,
subject to approval at the AGM on 10 May to shareholders on the register at
the record date of 9 March.

For further information

Colin Day      Chief Financial Officer                        01753 217 800
Tom Corran     SVP Investor & Corporate Communications        01753 446 548
Bobby Leach    Shandwick                                      020 7329 0096



The Group at a Glance (unaudited)

 Quarter Ended Dec 31                                         Year Ended Dec 31
2000        1999                                                2000     1999
 £m          £m                                                  £m       £m
                        From total ordinary activities

 860         794        Net revenues                           3,202    3,054
 8%           -         Net revenues growth                      5%      (1%)
49.7%       47.7%       Gross margin                           48.8%    47.7%
 168         119        EBITDA normalized*                      529      431
19.5%       15.0%       EBITDA margin normalized*              16.5%    14.1%
 148         103        EBIT normalized*                        451      357
17.2%       13.0%       EBIT margin normalized*                14.1%    11.7%
 136         87         Profit before tax normalized*           391      289
15.8%       11.0%       PBT margin normalized*                 12.2%     9.5%
 97          60         Net Income normalized*                  275      200
11.3%       7.6%        Net Income margin normalized*           8.6%     6.5%
13.9p       8.6p        EPS normalized*                        39.5p    29.3p
13.5p       8.5p        EPS normalized, diluted*               38.8p    29.0p

                        From continuing operations

 859         774        Net revenues                           3,160    2,967
 11%          -         Net revenues growth                      7%       -
 168         114        EBITDA normalized*                      519      415
19.6%       14.7%       EBITDA margin normalized*              16.4%    14.0%
 148         98         EBIT normalized*                        440      339
17.2%       12.7%       EBIT margin normalized*                13.9%    11.4%

* Normalized to exclude non-operating items and reorganisation and merger
integration costs.


Group profit and loss account

(unaudited)


Quarter Ended Dec 31                                         Year Ended Dec 31
        
 2000  1999      %                                           2000  1999  %
            change                                                       change
   £m    £m                                                  £m      £m
859     774  11%   Net revenues - continuing operations      3,160  2,967   7%

1        20 (95%)  Discontinued operations                   42       87  (52%)
860     794   8%   Total net revenues                        3,202  3,054   5%



(433) (416)   4%   Cost of sales                            (1,640)(1,598)  3%
427     378  13%   Gross profit                              1,562  1,456   7%

(279) (456) (39%)  Net operating expenses                   (1,111)(1,319)(16%)

                   Operating profit - continuing operations
                   before reorganisation and merger
148      98  51%   integration costs                           440    339  30%

                   Reorganisation and merger integration     
-     (181)   -    costs                                       -     (220) -
                                              
0         5   -    Discontinued operations                      11     18 (39%)
                                              
148    (78)   -    Total operating profit                      451    137 229%



                   Non-operating items:

-      (38)   -    Merger transaction expenses               -        (38) -

16       24   -    Profit on disposal of businesses          56        21  -

0         1   -    Profit on disposal of tangible fixed       0         1  -
                   assets
                   Profit/(Loss) on ordinary activities
164    (91)   -    before interest                          507       121 319%
                                              
(12)   (18) (33%)  Net interest expense                     (60)      (69)(13%)
                                            
                   Profit/(Loss) on ordinary activities
152   (109)   -    before taxation                          447        52 760%
                                              
                   Tax on profit/(loss) on ordinary
(43)   (26)  65%   activities                              (132)      (89) 48%

                   Profit/(Loss) on ordinary activities
109   (135)   -    after taxation                           315       (37)  -
                                              
0         0   -    Attributable to equity minority interests (1)        0   -
                                              
109   (135)   -    Profit/(Loss) for the period             314       (37)  -

(90)   (88)   2%   Ordinary Dividends                      (178)     (153) 16%

19    (223)   -    Retained profit/(loss) for the period    136      (190)  -

                   Earnings per ordinary share:

15.6p (19.4)p      On profit/(loss) for the period           45.2p (5.4)p

13.9p  8.6p        On normalized profit for the period       39.5p  29.3p
                                                               
15.0p (19.4)p      On profit/(loss) for the period, diluted  44.1p  (5.4)p
                                                              
13.5p  8.5p        On normalized profit, diluted             38.8p  29.0p

                                                               
                   Average common shares outstanding:

698.1 692.7        Basic                                     695.7 679.3

745.1 738.1        Diluted                                   741.4 679.3



Group balance sheet

As at December 31, (unaudited)


                                                                    2000   1999

                                                                      £m     £m
Fixed assets:
Intangible assets                                                  1,638  1,537

Tangible assets                                                      535    514

                                                                   2,173  2,051

Current assets:                                                      245    243

Stocks                                                               622    598

Debtors due within one year                                          148    139

Debtors due after more than one year                                  39    105

Investments                                                           94     88

Cash at bank and in hand                                           1,148  1,173
                                                                   
Current liabilities:

Creditors due within one year:                                     (245)  (309)

Borrowings                                                        (1,053)  (873)

Other                                                             (1,298)(1,182)
                                                                  
Net current liabilities                                            (150)    (9)

Total assets less current liabilities                              2,023  2,042

Non-current liabilities:

Creditors due after more than one year:                            (289)  (426)

Borrowings                                                         (129)   (97)

Other                                                              (194)  (194)

Convertible capital bonds                                          (612)  (717)
                                                                   

Provisions for liabilities and charges                             (279)  (362)

Equity minority interests                                           (16)   (18)

Net Assets                                                         1,116    945

Capital and reserves:                                                 71     70

Called up share capital (including non-equity capital of £4.5m)        7      8

Shares to be issued                                                  165    145

Share premium account                                                148    148

Merger reserve                                                       725    574

Profit and loss account
Total shareholders' funds (including non-equity shareholders'      1,116    945
funds of £4.5m)





Group cash flow statement

For the year ended 31 December, (unaudited)


                                                                   2000    1999

                                                                     £m      £m

Operating activities:                                               451     137

Operating profit                                                     78      74

Non-cash items:                                                       -     220

     Depreciation and amortisation                                 (10)      13

     Reorganisation and merger integration provisions               (4)    (15)

     Other non-cash movements                                         6    (11)

Movements in stocks                                                  98      54

Movements in debtors                                              (117)    (26)

Movements in creditors                                                -    (38)

Reorganisation and merger integration costs paid

Merger transaction expenses paid

Cash flow from operating activities                                 502     408

Return on investments and servicing of finance                     (74)    (72)

Taxation                                                           (67)    (50)

Capital expenditure and financial investment                       (96)    (73)

Acquisitions and disposals                                           81     (3)

Equity dividends paid                                             (177)   (180)

Cash inflow before use of liquid resources and financing            169      30

Management of liquid resources                                       68     169

Financing                                                         (190)   (198)

Increase in cash for the period                                      47       1

Included in cash flow from operating activities are cash flows in respect of
Year 2000 costs of £1m (1999, £25m).



Reconciliation of operating cash flow to net cash flow from ordinary
operations



Operating cash flow (excluding merger and reorganisation expenses)    619   472

Returns on investments and servicing of finance                      (74)  (72)

Taxation                                                             (67)  (50)

Capital expenditure                                                  (96)  (73)

Net cash flow from ordinary operations                                382   277




Segmental Analysis (unaudited)

Analyses by geographical area and product segment of net revenues and
operating profit are set out below. The figures for each geographic area show
the net revenues and profit made by companies located in that area.

 Quarter Ended Dec 31                                    Year Ended Dec 31
2000 1999   % change                                   2000  1999   % change
  £m   £m  exch. rates                                   £m    £m  exch. rates
          actual const.                                           actual const.
                        Net revenues - by geographical area
 329  315     5%    10% Western Europe                1,302 1,319   (1%)     5%

 280  246    14%     4% North America                   962   862    12%     5%

  75   55    36%    24% Latin America                   239   198    21%    15%

  91   76    20%    19% Asia Pacific                    341   299    14%    14%

  84   82     2%     3% Rest of World                   316   289     9%    12%

 859  774    11%     9%                               3,160 2,967     7%     7%

   1   20  (95%)  (95%) Discontinued operations          42    87  (52%)  (49%)

 860  794     8%     6%                               3,202 3,054     5%     6%




                    Operating profit - by geographical area

 77    56  37%  43% Western Europe                      276   246   12%   18%

 58    42  41%  30% North America                       128    90   42%   34%

  5     1    -    - Latin America                         6     5   14%   10%

  7     1    -    - Asia Pacific                         13   (2)     -     -

  9     2    -    - Rest of World                        27    18   49%   52%

(8)   (4) 110% 110% Corporate                          (10)  (18) (43%) (43%)

  - (181)    -    - Merger Reorganisation Costs           - (220)     -     -

148  (83)    -    -                                     440   119  269%  276%

  0     5    -    - Discontinued operations              11    18 (39%) (34%)

148  (78)    -    -                                     451   137  229%  235%




%   %                 Operating margin - by geographical area %   %

23.5  18.0             Western Europe                         21.2 18.7

20.9  16.9             North America                          13.3 10.4

6.3   1.8              Latin America                           2.5 2.3

7.4   1.8              Asia Pacific                            3.8 (0.7)

10.5   1.9             Rest of World                           8.5 6.2

  -     -              Corporate                                 -   -

  -     -              Merger Reorganisation Costs               -   -

17.2 (10.7)                                                    13.9 4.0

0.0  25.3              Discontinued operations                26.2 20.7

17.2 (9.8)                                                    14.1 4.5



Segmental Analysis (continued)
 Quarter Ended Dec 31                                      Year Ended Dec 31
2000 1999   % change                                    2000 1999   % change
  £m   £m  exch. rates                                    £m   £m  exch. rates
          actual const.                                           actual const.
                        Net revenues - by product segment

 787  711    11%     9% Household and Health & Personal 2,957 2,788     6%   7%
                        Care

  72   63    16%     7% Food                              203  179    14%     7%
                        
 859  774    11%     9%                                 3,160 2,967     7%    7%

   1   20  (95%)  (95%) Discontinued operations           42   87  (52%)  (49%)

 860  794     8%     6%                                 3,202 3,054     5%    6%


                   Operating profit - by product segment

129   71    82%  82% Household and Health & Personal      410  318  29%  32%
                   Care
 27   31   (11%)(20%)Food                                  40   39   3% (3%)
                   
(8)  (4)   110% 110% Corporate                           (10) (18) (43%) (43%)
                   
 - (181)    -    -   Merger Reorganisation Costs           - (220)    -    -
                   
148 (83)    -    -                                        440  119 269% 276%

  0    5    -    - Discontinued operations                 11   18 (39%) (34%)

148 (78)    -    -                                        451  137 229% 235%


%   %                 Operating margin - by product segment %   %

16.4  10.0             Household and Health & Personal Care 13.9  11.4

37.7  49.1             Food                                 19.7  21.5

  -     -             Corporate                               -     -

  -     -             Merger Reorganisation Costs             -     -

17.2 (10.7)                                                  13.9   4.0

0.0  25.3             Discontinued operations              26.2  20.7

17.2 (9.8)                                                  14.1   4.5



                Net revenues - Household and Health

                & Personal Care

206 203  2%  4% Fabric Care                             814    809    1%  4%

200 183  9%  4% Surface Care                            764    698   10%  7%

114 108  5%  6% Dishwashing                             413    422  (2%)  1%

113  80 42% 37% Home Care                               371    303   22% 21%

 98  86 14% 14% Health & Personal Care                  388    353   10% 12%

731 660 11% 10% Core Business                         2,750  2,585    6%  8%

 56  51  9%  3% Other Household                         207    203    2%  3%

787 711 11%  9% Net Revenues - continuing operations  2,957  2,788    6%  7%

The analysis for 1999 has been slightly restated for disposals completed in
2000 and prudent accounting of attributable net revenues in certain alliances
in Health & Personal care.
Earnings per ordinary share

For the year ended 31 December (unaudited)



The reconciliation between profit for the period and the weighted average
number of shares used in the calculations of the diluted earnings per share are
set out below:
                                         2000                    1999
                                Profit Average Earnings   Loss Average Earnings
                                   for                     for
                                        number      per         number      per
                                   the      of    share    the      of    share
                                period                  period
                                        shares    pence         shares    pence
                                    £m                      £m
Profit /(loss) attributable to    314 695,737,827  45.2  (37) 679,254,788 (5.4)
shareholders
                                       
Dilution for Executive options          6,296,053                       -
outstanding                            

Dilution for Employee Sharesave           159,633                       -
Scheme options outstanding
                                    
Dilution for convertible               39,172,723                       -
capital bonds outstanding          13

On a diluted basis                327 741,366,236  44.1 (37) 679,254,788  (5.4)


The impact of the convertible capital bonds has not been included in the 1999
diluted earnings per share calculation above, as in accordance with FRS 14 the
impact was not dilutive.

The reconciliation of profit for the period and earnings per share on the
shares in issue between unadjusted and adjusted EPS calculation bases are as
follows:
                                         2000                    1999
                                Profit Average Earnings Profit Average Earnings
                                   for                     for
                                        number      per         number      per
                                   the      of    share    the      of    share
                                period                  period
                                        shares    pence         shares  pence
                                    £m                      £m
Basic EPS                        314  695,737,827 45.2   (37) 679,254,788  (5.4)

Reorganisation, merger            (56)            (5.7)    236             34.7
integration costs and non
operating items                     

Taxation (including deferred       17                -    (0)
taxation)
                                  275 695,737,827 39.5   199 679,254,788    29.3

Impact of dilution                 13  45,628,409    -      - 7,566,735        -

On an adjusted, diluted basis     288 741,366,236 38.8   199 686,821,523    29.0

The Directors believe that a diluted earnings per ordinary share, adjusted for
the distorting effects of non-operating items and exceptional costs (i.e.
reorganisation and merger integration costs) after the appropriate tax amount,
provides the most meaningful measure of earnings per ordinary share in
comparing the performance of the business over time.

Five time the number of Reckitt Benckiser Holdings B.V. 'A' shares have been
included in the calculations of the weighted average number of shares, in order
to present the effect of the shareholders' agreement, under the terms of which
the position of the holder of Reckitt Benckiser Holdings B.V. 'A' shares is in
substance the same as if it held five new Reckitt Benckiser shares for every
Reckitt Benckiser Holdings B.V. 'A' share held.

Similarly, five times the number of outstanding Benckiser N.V. 'B' shares have
been included in the calculations of the weighted average number of shares, as
it is expected that these shares will be converted into Reckitt Benckiser
shares in due course.