Agreement to Sell Universal Studios Escape

Rank Group PLC
2 June 2000


The Rank Group Plc announces agreement to sell Universal Studios
Escape

The  Rank Group Plc announces that it has agreed terms  for  the
disposal of its 50% interest in Universal Studios Escape ('USE')
to  Blackstone Capital Partners III L.P ('Blackstone') for $275m
(£185m)  in cash on closing.  There is also a contingent payment
of  up  to  $75m  (£50m) depending upon Blackstone  achieving  a
defined level of return on its investment, measured at the  time
of their exit.

Universal  Studios  Escape is a leading  tourist  attraction  in
Orlando, Florida jointly owned with Universal Studios consisting
of  two  theme parks (Universal Studios Florida and  Islands  of
Adventure)   and  Universal  Studios  CityWalk,  a  dining   and
entertainment  centre.  The transaction  does  not  include  the
Group's  interest in the three hotels adjacent  to  USE  or  the
Group's investment in Universal Studios Japan.

The sale is conditional upon consents from certain third parties
and  obtaining certain amendments from the lenders  under  USE's
syndicated debt facility.

In  the year to 31 December 1999, Rank recorded a net loss after
interest  of  £2m  from USE. The net book value  of  USE  at  31
December 1999 was £332m.

The  proceeds  from  the  sale will  be  used  to  reduce  Group
indebtedness.

Mike Smith, Rank's Chief Executive, commented:

'We  are  pleased  to have reached this initial  agreement  with
Blackstone,  secured  with  the co-operation  of  our  partners.
However,  there are a number of conditions yet to be  met  which
means  that  we  still need to temper our expectations  at  this
stage.   We  hope that the remaining conditions can be satisfied
within three months.'

Enquiries:

The Rank Group Plc
Ian Dyson, Finance Director - 020 7706 1111
Kate Ellis-Jones, Investor Relations - 020 7535 8031

Blackstone Capital Partners
Howard A. Lipson, Sr. Managing Director - 001 212 583 5844

Universal Studios Recreation Group
Jim Yeager, SVP Public Relations - 001 818 777 1047

Press Enquiries:

Angus Maitland, The Maitland Consultancy - 020 7379 5151
Laura Frost, The Maitland Consultancy - 020 7379 5151