FRN Variable Rate Fix

FRN Variable Rate Fix 

    LONDON--(BUSINESS WIRE)--June 2, 2003--

As Agent Bank, please be advised of the following rate determined on: 30-May-2003

Issue               : The Royal Bank of Scotland Group Plc
                      £200,000,000 Floating Rate Notes Due 2005
ISIN Number         : GB0007547499
Issue Nomin     GBP : 120,000,000.00
Period              : 30-May-2003 to 29-Aug-2003          Payment Date 29-Aug-2003
Number of Days      : 91
Rate                : 5.25
Denomination    GB  : 5,000.00      50,000.00

Amount Payable 
per Denomination    : 65.45         654.45

Institutional       Telephone   [phone]
Trust Services      Facsimile   44(0) 1202 34 7438

   Short Name: Royal Bk Scot. Grp.
   Category Code: RC
   Sequence Number: 00005328
   Time of Receipt (offset from UTC): 20030602T103302+0100