The fastest way to deal with this problem if you do not have the code is to lock and unlock the car with the key - this activates and deactivates the immobiliser manually.
If you don't have the code, take the logbook and id to your rover dealer and for a charge they will give you the code (it was suppossed to be £5 and so I took along £5 in 20p pieces and they gave it to me for free)
When you have the code (assume 1-2-3-4), lock the door with the key (turn clockwise) and wait for around 15 seconds for the immobiliser light to change from a fast flash to a slow flash.
put key in lock and unlock (turn left) once, then lock (right) twice, bear in mind it should be lock then returned to centre the locked again. Then unlocked three times and finally locked four times, and finally unlocked once to complete the cycle.
The above system is used both to deactivate and re-activate the system, on occassion I have purposely deactivated the system and then re-activated the system to re-align the fob.
Steve Martin, April 2007