2nd Qtr & Interim Rslts-Part1

Reckitt Benckiser PLC
16 August 2000

PART ONE

           Strong Progress in Q2 : On Track to Deliver 2000 Targets


Commenting today, Bart Becht, Chief Executive Officer, said

'The second quarter was a period of strong progress. On merger integration, we
moved ahead of plan and are now comfortable that the promised cost synergies
will come through on time.  Additionally, we completed our top management team
with the appointment of Colin Day, the new Chief Financial Officer. We also
divested more than one third of the non-strategic portfolio tail, a key merger
promise.  Importantly, the second quarter was a good quarter for business
results considering the tough year-on-year comparison.  Net revenues grew 4%
at constant exchange, the closest indicator of volume growth, and normalized
net income increased by 9% at actual rates, indicating that organic growth is
becoming firmly established.  At the same time, we are working hard to build
tomorrow's growth platform by heavily supporting new products like Calgonit 2-
in-1 and Lysol wipes and by launching cross-selling opportunities.

With solid second quarter results, a sound strategy and the creation of
tomorrow's growth platform, we are confident about Reckitt Benckiser's future.
As a result, we confirm our 2000 targets, despite adverse procurement
variances, of 5% growth in net revenues and 25% growth in net income (both at
constant exchange rates) and a £100m reduction in working capital.'

Highlights1    Q2  % change  % change  Half     %change %change
Exchange           actual    constant  Year     actual  constant
Net                                                              
Revenues    £807m       +2%       +4%  £1,555m      +3%       +6%
Operating                                                        
Profit      £117m       +6%       +9%    £203m     +10%      +16%
Profit                                                           
before tax  £102m       +9%      +15%    £169m     +13%      +22%
Net Income   £71m       +9%      +15%    £116m     +13%      +22%

1Profits are all normalized, excluding charges for reorganization
and non-operating items.

*    Merger successfully passed a key integration milestone in the second
     quarter, moving 15 countries to one ERP system and one invoice.

*    Over a third of the tail disposed including Epilim, Fatty Acids and
     Australian personal care. North American other household and Shoe Care in
     France/Belgium definitely retained, a further third of the total tail.

*    Media investment increased to 10% of net revenues.

*    Gross merger savings of £33m  giving a positive impact to operating
     profits of £10m so far this year. On track to deliver net benefit target
     of £38m for full year.

*    Net working capital reduced by £36m in the first half, on track to meet
     the full year target of £100m reduction.

*    Dividend for the half year of 12.7 pence, unchanged, in line with
     previously communicated dividend policy.

                              Detailed Commentary

Basis of Comparatives

The results, as reported, are distorted by a number of factors:

*    Exchange rates.  The strength of sterling relative to the Euro, offset to
     some extent by the strength of the US $, has impacted on the Company's
     reported net revenues and profits.  Exchange rates have reduced reported
     net revenues by £16m in Q2 and £51m in the first half.

*    Discontinued businesses.  The results for 1999 include net revenues and
     operating profit relating to businesses sold at the end of 1999.  For the
     second quarter of 1999, this amounts to net revenues of £5m and operating
     profit of £1m.  For the first half of 1999, this amounts to net revenues
     of £9m and operating profit of £2m. Results are shown including
     discontinued business except where reporting on continuing operations.

*    Reorganization Costs.  The second quarter and half year 1999 included a
     charge to operating profit of £25m for merger reorganization.

*    Non operating items.  Profit on disposal of fixed assets and businesses
     was £1m in the second quarter (1999 loss of £2m) and £2m in the half year
     (1999 loss of £2m).

The detailed financial schedules attached to this release contain full details
of the results as reported and the adjustments for these factors.

Second Quarter 2000

Net revenues for the second quarter grew by 2% (4% at constant exchange) to
£807m (£792m in 1999).  Net revenues from continuing operations (excluding
discontinued businesses) grew  3% (5%).

Operating income for the quarter was £117m, an increase of 38% on last year.
Normalized operating profit was also £117m, an increase of 6% (9%) compared to
an adjusted figure of £110m in 1999.  Normalized profit from continuing
operations grew by 7% (10%).

Profit before tax was £104m, an increase of 55% on last year. Normalized
profit before tax rose by 9% (15%) to £102m (£94m in1999).

Net income was £72m, 85% above last year.  Normalized net income was £71m, an
increase of 9% (15%) on the normalized figure of £65m in 1999.

Half Year 2000

Net revenues for the six months grew by 3% (6% at constant exchange) to
£1,555m (£1,511m).   Net revenues from continuing operations grew 4% (7%).
Growth in net revenues came from the Company's new strategy of focusing on key
categories, from a number of major initiatives across all the regions, and
from improvement in execution of the Company's sales and marketing programs,
supported by significant increases in investment in media and other consumer
marketing. The half year also benefited from comparison with trade de-loading
in the first quarter of 1999. The Company has grown net revenues at constant
exchange rates in all regions and all core categories.

Profit margins have expanded significantly due to an improvement in gross
margins by 70 basis points to 48.5% and merger savings, offset by higher
investment in media.  Specifically, media investment increased to 10% of net
revenues.  As a result normalized operating margins have improved by 90 basis
points to 13.1% in the half year (1999 12.2%).

Merger savings in the first half were £33m.  After the £23m increase in media
investment, the net benefit to operating profit in the first half year was
£10m.

Operating profit was £203m, 28% above last year.  Normalized operating profit
rose by 10% (16%) to £203m, while normalized operating profit from continuing
operations grew by 12% (18%).  The charge for net interest is unchanged at
£34m, as the Company has been broadly cash neutral through the period.

Profit before tax increased by 39% to £171m.  Normalized pre-tax profit was
£169m, an increase of 13% (22%) on the £150m in 1999. The tax rate was reduced
to 30% for the half year, reflecting the current mix of tax rates on the
Company's profits geographically.

Net income for the half year was £118m, an increase of 53% on last year.
Normalized net income rose by 13% (22%) to £116m (£103m). Earnings per share
were 17.1 pence.  Normalized earnings per share diluted were 16.6 pence, 10%
ahead of the 15.1 pence in the first half of 1999.

The Board has declared an interim dividend of 12.7 pence per share, unchanged
from last year.  This is in line with the commitment given at the time of the
merger to maintain the absolute dividend level until the payout ratio falls
into line with the industry average.    The dividend will be paid on 20
September 2000 to shareholders on the register on 4 September 2000.  The ex-
dividend date will be 29 August 2000.

Category Review at constant exchange rates

Fabric Care net revenues in the second quarter were £209m, 3% ahead of last
year.  This brings net revenues for the first half to £402m, an increase of 5%
on 1999.    Growth has come on Fabric Treatment from the continuing roll out
of the Vanish range in Eastern Europe and, in the USA, from better execution
and TV support on Spray n' Wash.  Calgon in Europe has seen increasing
investment behind an effective new TV campaign, while the sub-category is
growing strongly in Eastern Europe as it is extended in the region.  Laundry
detergent net revenues have been constrained by competitive pricing in Eastern
Europe and China, but have grown strongly in private label sales with the
success of tabs.

Surface Care net revenues in the second quarter were £182m, 2% ahead of last
year.  This brings net revenues for the first half to £361m, an increase of
10% on 1999.  Lysol has grown in North America, in a growing market, as it
recovers market share following a competitive launch in 1999.  In Brazil, Veja
was extended with a new range based on the 'perfumes from nature' concept
developed for St Marc in France.  In France, the success of St Marc wipes has
grown the brand and its overall market share.

Dishwashing net revenues in the second quarter were £108m, 8% ahead of last
year.  This brings net revenues for the first half to £209m, an increase of 4%
on 1999.  In Europe, the success of PowerBall tabs continued while the
Company's new Calgonit 2-in-1, combined detergent and rinse agent ADW tab, was
successfully introduced in Germany, Austria and Switzerland.  In North
America, in-market execution improved substantially in the second quarter,
resulting in much higher market shares.

Home Care net revenues in the second quarter were £80m, 9% ahead of last year.
This brings net revenues for the first half to £166m, an increase of 16% on
1999.  This strong performance came from both Air Care and Pest Control. In
Air Care, this was primarily due to better execution in market, backed by
significantly increased marketing investment in Europe and North America, and
the launch of Crystal Air in France and candles in Australia.  In Pest
Control, growth has come from the Mortein 'extra power' range of longer-
lasting mats and 12 hour burning coils that were launched in South Asia,
Pakistan and South Africa and the Pif Paf range that has been extended,
repackaged and completely re-launched into China.

Health & Personal Care net revenues in the second quarter were £109m, 10%
ahead of last year.  This brings net revenues for the first half to £197m, an
increase of 10% on 1999.  Depilatories grew strongly with two new launches
across Europe, new fragrance cream and roll-on wax, and the introduction of
Veet to Eastern Europe.  Dettol benefited from much improved execution in
market and higher investment in South and East Asia, while the brand was
extended regionally in China doubling distribution in the first half.  Lemsip
has continued to gain share in the UK, helped by the launch of lozenges.

Core Household business therefore grew by 5% in the second quarter to £688m,
and by 8% to £1,335m for the first half.  Non core, other household net
revenues declined by 3% in the first half to £132m.  This does not reflect any
impact of recently announced disposals.  As a result, total household net
revenues rose by 6% to £1,467m (3% growth at actual exchange rates) including
£9m of net revenues in 1999 on business subsequently disposed.

Food net revenues in the second quarter were £52m, 2% below last year.  This
brings net revenues for the first half to £88m, an increase of 6% on 1999.
Operating income for the half year increased to £11m (£7m in 1999).  Growth
came across the full range of brands, but particularly from French's yellow
mustard, Frank's Red Hot sauce and the commercial range.

Geographical Analysis at constant exchange rates.

Western Europe: 44% of net revenues.

Second quarter net revenues rose by 3% to £344m and operating income was £68m
(+1%) reflecting good progress in major markets and categories.  As a result,
net revenues for the first half-year rose by 4% to £684m, and operating income
was £138m, +7% versus last year.

The major growth came from Dishwashing, Air Care, Health & Personal Care and
private label. Automatic Dishwashing detergents grew due to the continuing
successful roll out of PowerBall and the successful launch of Calgonit 2-in-1.
In Air care, success was due to higher investment and better execution
combined with range extensions.  In Health & Personal Care, fastest growth
came from Depilatories due to increased investment and the roll out of the wax
roll-on and the improved fragrance cream.  Lemsip grew strongly in the UK,
increasing market share, helped by the success of lozenges.   Private Label
has grown  due to the success of laundry detergent tabs. Overall, strongest
growth by market came in UK, France and Spain.

Operating income in the region was boosted by improving gross margins, due to
higher volumes, and very tight control of fixed costs, helped by some early
benefits of merger savings.  This funded an increase in media  to well over
10% of net revenues.  Operating margins  increased by 80 basis points to
20.2%.

North America: 28% of net revenues.

Second quarter net revenues were level with last year at £236m, and operating
income was £34m, 2% ahead of the unusually high profitability of the
equivalent quarter last year.  As a result, net revenues rose by 7% in the
first half to £437m, and operating income was £44m, an increase of 25% of last
year.

Net revenue growth in the first half, helped by the bounce back in the first
quarter, came mainly from Surface Care, Dishwashing and Fabric Care.  Improved
execution resulted in new high market shares in Automatic Dishwashing in June,
and continuing recovery in share in a growing market for the Disinfecting
Spray category for Lysol.   Fabric Treatment also benefited from improved
execution focused on a new TV advertising for Spray n' Wash, and strong
performance by Resolve carpet cleaner.  The food business continued to make
strong progress across its brands, particularly French's Mustard, Frank's Red
Hot sauce and the commercial range.

Gross margins improved significantly in the half-year, mainly due to volume
bounce back and to purchasing synergies, helping to fund an increase in media
and other marketing investment.  Reducing overhead fixed costs as a result of
merger reorganization impacted positively also on operating margins, which
improved by 160 basis points to 10.1%.

Latin America: 7% of net revenues.

Second quarter net revenues rose by 4% against an unusually high comparative
in 1999 to £56m and operating income was £2m, below the high level reported
last year.  As a result, net revenues for the first half-year rose by 13% to
£108m, and operating income was £1m.

Growth has come from Veja surface cleaner in Brazil, where a new range based
on 'perfumes from nature' was launched and from further progress for Lysol in
Brazil, Mexico and in Argentina as Procenex.  All the major markets have seen
net revenue growth, with particularly strong performance and  recovery in
Mexico and in Brazil.

Gross margins continue on an improving trend although they were below the
levels of the first half of 1999.   Much higher investment in media and
marketing to support growth initiatives held back profitability.

Asia Pacific: 11% of net revenues

Second quarter net revenues rose by 16% to £91m, and operating income was £4m,
versus a loss in the second quarter of 1999.  As a result, net revenues for
the first half-year rose by 14% to £175m and operating income was £8m,
substantially improved on the £3m in 1999.

Growth came from successful initiatives in pest control such as the launch of
the Mortein 'extra power' mats and king coils in South Asia, and the roll out
of the Pif Paf range in China.  Dettol has benefited from improved execution
with increased marketing investment in South and East Asia. In Australia and
New Zealand, the fabric treatment range saw the launch of Vanish in-wash stain
remover under the Napisan brand.  Automatic Dishwashing grew strongly under
the Finish brand.  Growth came from all markets across the region, but
particularly from the major markets of Australia, India, China and
Malaysia/Singapore.

Higher gross margins were partly offset by a substantial increase in media and
marketing investment across the region. Merger savings in Australia/New
Zealand, however, helped boost regional operating margins  by 270 basis points
to 4.6%.

Rest of World: 10% of net revenues

Second quarter net revenues rose by 11% to £80m and operating income was £9m,
slightly below the unusually high level in 1999.  As a result, net revenues
for the first half-year rose by 13% to £151m and operating income was £12m,
slightly below the unusually high figure in 1999.

Growth came primarily from both Calgon water softeners and Veet depilatories
being rolled out across Eastern European markets, and Analgesics and Shoe Care
in Middle East & Africa, and from improved in-market execution backed by
significant increases in marketing investment.  Notable growth came in Turkey,
Hungary, Czech, Russia/CIS, Pakistan and East Africa.

Profitability did not match the levels in the first half last year, but
represented continuing improvement against the average run rate for 1999.

New Initiatives

Current and recent new initiatives in core categories include the roll out of
the Vanish fabric treatment range into Brazil and China, in Australia as
'Napisan in wash' and in France as 'Blanco in wash'.  Resolve steam machine
carpet cleaner is being launched in the USA.  In surface care, Lysol
disinfecting wipes have been introduced to the USA, to France, as St Marc, and
to Australia & New Zealand as Pine-O-Clean.  In Dishwashing, Calgonit 2-in-1
has started its roll out to several new European countries.  In Air Care,
Crystal Air is now being rolled out across Europe, Australia and South Africa,
while air freshening liquid electricals are being introduced in the USA under
the Wizard brand.   In Pest Control, the Mortein 'extra power' range of
longer-lasting mats and 'king' coils, is being extended to new markets in Asia
and Africa, while a new range of 'Fast Kill' products has been introduced in
Africa and Middle East.   At the same time, the existing range is being
extended into China under the Pif Paf brand.  The Dettol range in South Asia
is being extended with talcum powder and a new extra moisturizing antiseptic
soap.

Cash Flow & Balance Sheet

Working capital decreased by £36m in the first half, on track to meet the
Company's stated target of £100m reduction for the year.  Cash flow from
operating activities was £230m, £54m higher than the equivalent period last
year due to higher operating profit of £44m plus a working capital reduction
of £36m, being offset by the cash cost of merger and other reorganization of
£60m.  Capital expenditure was lower, at £37m although there will be a
significant increase in the second half of the year.  As a result of these
factors and payments for tax and interest, the Company generated net cash flow
from ordinary operations of £125m, £52m more than in the equivalent period
last year.

After dividend payments to shareholders of £88m, effects of translation of
foreign currencies, and other items, the increase in net borrowings in the
period was £18m.  Net borrowings therefore increased to £754m (1999: year end
£736m).  As a result, the capital employed in the business, of £1,777m is now
made up of borrowings of £754m, equity of £1,004m and minority interests of
£19m.  Accordingly, the ratio of net borrowings to capital employed has
reduced slightly to 42% (1999 year end 43%) despite the small increase in
borrowings.  The Company's financial position remains strong.  Interest cover
in the half year was 6 times (1999 half year 5.4 times normalized and full
year 5.2 times normalized).




For further information

Tom Corran                    Telephone      + 44  1753 746 548
SVP Corporate Communications  Facsimile      + 44  1753 746 415

Bobby Leach                   Telephone      + 44 207 329 0096
Shandwick International


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