FRN Variable Rate Fix

Royal Bank of Scotland Group PLC
                  

As Agent Bank, please be advised of the following rate determined on:27-Mar-2006

Issue               : Royal Bank of Scotland plc - Series 535
                      GBP 3,070,000 (MTN) FRN Due 26 Sep 2007
ISIN Number         : XS0155723025
Common Code/
144A ISIN           : 15572302
Issue Nomin     GBP : 3,070,000.00
Period              : 27-Mar-2006  to 26-Jun-2006    Payment Date 26-Jun-2006
Number of Days      : 91
Rate                : 4.56
Denomination    GB  : 10,000.00
Amount Payable 
per Denomination    : 113.69

Institutional       Telephone   [phone]
Trust Services      Facsimile   44(0) 1202 34 1267