Ashtead Loan

Rentokil Initial PLC 07 July 2005 7th July 2005 Rentokil Initial plc ASHTEAD UNSECURED CONVERTIBLE LOAN NOTE Today Ashtead Group plc has announced details of a proposed refinancing. This would include the early repayment of the £134 million unsecured convertible loan note received by Rentokil Initial plc as partial consideration for the sale of its US plant services business in June 2000 and which is due for repayment on 31st March 2008. If the proposed refinancing is successfully completed prior to 15th August 2005, Rentokil Initial plc would receive an agreed early repayment sum of £130 million, inclusive of all accrued interest and in addition to the £3.5 million interest received in April 2005. The board of Rentokil Initial plc believes that early repayment of the unsecured convertible loan note is in the best interests of its shareholders given that it would remove the potential risk of future payment default and eliminate the potential volatility on future reported financial results under the new International Financial Reporting Standards, particularly IAS39. For further information R C Payne, Finance Director 01342 833022 C D Grimaldi, Corporate Affairs Director This information is provided by RNS The company news service from the London Stock Exchange