Post M&S and Abbey and in a bearish market, there are surely plenty of other underperforming FTSE 250's out there in need of surgery - either a takeover or private equity carve-up. Any views on who might be next?

This could be the first step on the way, or a start to the fragmenting or the business imho, but make your own mind up.

Either way the share price may have hit bottom if we are lucky.

Rentokil Initial PLC
27 July 2004

27th July 2004 - Embargoed until 0700 am


Rentokil Initial plc

James Wilde steps down as Chief Executive

James Wilde, Chief Executive of Rentokil Initial plc, is to leave the company
with immediate effect, by mutual consent. Whilst a new Chief Executive is being
sought, Brian McGowan, Chairman, will step into the role of Executive Chairman,
supported by the Finance Director and the four sector Managing Directors who
will continue to be responsible for the day to day management of the businesses.

Brian McGowan said 'The Board wishes James well. He initiated a number of much
needed changes and the Board is committed to continuing and indeed accelerating
the good work that he started.

'As announced at the Company's annual general meeting on 27th May, I continue to
lead the review of the business. It remains the Board's intention to present the
outcome of that review at the time of the company's interim results, which will
be announced, as planned, on 26th August. In the meantime we have no reason to
change the statement we made at the AGM regarding the outlook for the full
year.'

- Ends -

For further information, please contact:
Charles Grimaldi, Corporate Affairs Director 00 44 (0)1342 833022
Gill Ackers / Jonathan Rhodes, Brunswick Group
LLP 00 44 (0)20 7404 5959
07974 982382 / 07974 982334
Alex Mackey 07773 787458