Issue of Debt

23 April 2009

                   ROLLS-ROYCE ISSUES £500M FIXED-RATE BOND                    

Rolls-Royce Group plc announces that Rolls-Royce plc has issued a ten year 
£500 million bond under its £1.75 billion Euro Medium Term Programme.

The Group has taken the opportunity to refinance early given current market
appetite and conditions for investment grade issuers.

The new bond carries a fixed-rate annual coupon of 6.75% and matures on 
30 April 2019. The notes will be guaranteed by Rolls-Royce Group plc.

The £3.1 billion order book from over 160 investors ensured the transaction was
six times over-subscribed. The success of this issue, confirms investors confidence
in the creditworthiness of the Group.

The Group is rated A3 by Moody's Investors Service and A- by Standard and
Poor's. Both ratings have a stable outlook.

The joint lead managers and joint bookrunners for the issue were Barclays
Capital, BNP Paribas and J P Morgan Securities.

For further information please contact:

Mark Alflatt
Director of Financial Communications
Tel: [phone]
[e-mail]