Put up or Shut up deadline

RNS Number:2735R
Takeover Panel
14 September 2005

                                                                         2005/36

                              RENTOKIL INITIAL PLC

                                  ("RENTOKIL")

                           RAPHOE MANAGEMENT LIMITED

                                   ("RAPHOE")

Following recent representations made by the advisers to Rentokil, the Panel
Executive has been considering the application of Rule 2.4(b) of the Code to the
announcements made by Raphoe stating the possibility of Raphoe making an offer
for Rentokil.  Following discussions with both parties' advisers, the Panel
Executive has ruled that Raphoe must, by 12.00 noon on 17 October 2005, either
announce a firm intention to make an offer for Rentokil under Rule 2.5 of the
Code or announce that it does not intend to make an offer for Rentokil.  No
extension to this deadline will be granted, except with the consent of the Panel
Executive.  In the event that Raphoe announces that it does not intend to make
an offer for Rentokil, Raphoe and any person acting in concert with it will,
except with the consent of the Panel Executive, be bound by the restrictions
contained in Rule 2.8 of the Code for six months from the date of such
announcement.

Each of the parties has accepted this ruling.

 14 September 2005


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