17PT Barclays 24

RNS Number:9529M
Rank Group PLC
12 November 2001

                              THE RANK GROUP Plc


                     FINAL AGREEMENT WITH INLAND REVENUE


On 1 October 2001, The Rank Group Plc ("Rank") announced that the Inland
Revenue had agreed to close its enquiries with respect to the acquisition in
1995, by Xerox Corporation, of 40% of the Group's financial interest in Rank
Xerox, and that discussions were continuing in relation to the acquisition by
Xerox in June 1997 of Rank's remaining financial interest in Rank Xerox ("the
1997 transaction").


Rank is now pleased to announce that the Inland Revenue has also closed its
enquiries in relation to the 1997 transaction. The enquiries have been closed
for no cash payment to the Inland Revenue.


Ian Dyson, Finance Director, said:

"Rank has always believed that there would be no tax liability arising from
the transactions with Xerox. We are delighted to be able to announce that the
Inland Revenue has now confirmed that it has closed its enquiries into this
matter."


                                   - ends -




Enquiries:

Ian Dyson, Finance Director
Kate Ellis-Jones, Director of Investor Relations
020 7706 1111


RG/06/01

Barclays 24 (LSE:17PT)
Historical Stock Chart
From Jul 2024 to Jul 2024

Barclays 24 (LSE:17PT)
Historical Stock Chart
From Jul 2023 to Jul 2024