Disposal of Odeon Cinemas

Rank Group PLC 21 February 2000 THE RANK GROUP PLC DISPOSAL OF ODEON CINEMAS FOR £285 MILLION The Rank Group Plc ('Rank') announces the sale of Odeon Cinemas ('Odeon'), to Cinven for a consideration of £280 million. Certain third party liabilities within Odeon Cinemas, which principally relate to the construction of new cinemas, will be for Rank's account resulting in net cash proceeds of approximately £272 million. The consideration may be subject to completion adjustments. The cash proceeds will be used to reduce group indebtedness. Odeon currently operates 75 cinemas within the UK and Jersey. For the year ended 31 December 1998, Odeon's turnover was £128 million and its operating profit before exceptional items was £19.0 after Rank Group central costs of £0.9 million. Net assets excluding inter company debt as at 31 December 1998 were £105 million. On 10 December 1999 Odeon paid a dividend of £50 million to Rank. Enquiries: The Rank Group Kate Ellis-Jones, Investor Relations - 0171 706 1111 The Maitland Consultancy Laura Frost - 0171 379 5151

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