Disposal of Style Conferences

Rentokil Initial PLC 29 November 2005 For immediate release Rentokil Initial PLC 29 November 2005 Rentokil Initial - Disposal of Style Conferences Rentokil Initial plc ('Rentokil' or the 'Company') announces that it has entered into arrangements with Alternative Hotel Group, a group of investors led by Richard Balfour-Lynn and other MWB directors acting in their private capacity partnering with Bank of Scotland, pursuant to which it expects to sell the Initial Style Conferences business ('Style Conferences' or the 'Business') for a total consideration of £325 million on a debt free cash free basis, to be paid in cash at completion. It is Rentokil's intention to apply the proceeds against current indebtedness and the transaction is expected to close within two weeks. Style Conferences is the market leader in the provision of training and conferencing venues in the UK and owns the freehold of 21 of the 29 centres that it operates. It was acquired as part of the BET group of businesses in 1996 and has always been operated on a standalone basis. For the twelve months ended 31 December 2004, the Business generated operating profit of £25.3 million and profit before tax of £19.7million on turnover of £91.1 million. As at 31 December 2004 Style Conferences had net assets of £128.9 million and gross assets of £165.0 million. Doug Flynn, Chief Executive of Rentokil Initial, said today: 'We decided to sell Style Conferences because its operating characteristics are substantially different from other businesses in the Company, and because we believe that there are other owners for whom the business would be a better fit. This transaction is a good outcome for our shareholders and has been achieved in line with the timetable we set earlier in the year. It is another step forward towards our aim of creating a clearer strategic focus by concentrating upon the development of those businesses which can add most value for our shareholders.' Enquiries: Rentokil Initial plc +44 (0) 1342 833022 Mark Boyle, Group Strategy & Development Director Charles Grimaldi, Corporate Affairs Director Greenhill & Co. International LLP +44 (0) 20 7440 0400 Simon Borrows Edward Wakefield Brunswick Group LLP +44 (0) 20 7404 5959 John Sunnucks Gill Ackers NOTES FOR EDITORS: Style Conferences' turnover, operating profit and net assets are derived from the segmental analysis in Rentokil's annual accounts as at 31 December 2004. Style Conferences' profit before tax and gross assets are derived from Initial Style Conferences Limited statutory accounts as at 31 December 2004. Greenhill & Co. International LLP ('Greenhill & Co.'), which is regulated by the Financial Services Authority, is acting for Rentokil Initial plc in connection with the disposal of Style Conferences and for no one else and will not be responsible to anyone other than Rentokil for providing the protections afforded to customers of Greenhill & Co. nor for providing advice in relation to this potential transaction. This information is provided by RNS The company news service from the London Stock Exchange