Change to Board of Directors

Royal Bank of Scotland Group PLC
28 July 2000



FRED WATT IS APPOINTED GROUP FINANCE DIRECTOR OF
THE ROYAL BANK OF SCOTLAND GROUP


Fred Watt, former Finance Director of Wassall plc has been
appointed Group Finance Director of The Royal Bank of
Scotland Group. Mr Watt will join the Board of The Royal
Bank of Scotland Group with effect from 4 September. Grahame
Whitehead (50), currently Chief Financial Officer, has been
appointed Deputy Group Finance Director.

Mr Watt (39) is a member of the Institute of Chartered
Accountants of Scotland, where he was a prizewinner in his
year, and has a wide range of experience in accountancy and
in business.

He joined Wassall plc in 1989 as Chief Accountant and
Company Secretary. As a key member of the company's
management team he was closely involved in developing the
company into a successful generator of value through a
series of progressively larger acquisitions.

He played a key role in the company's success, with
responsibilities which included management of the pre-
acquisition review process for target companies, through to
the overhaul of management and systems of the acquired
businesses. Wassall was itself acquired by Kohlberg Kravis
Roberts (KKR) earlier this year.

Viscount Younger of Leckie, Chairman of The Royal Bank of
Scotland Group, said: 'The finance function has always been
a key strength in The Royal Bank of Scotland Group, and
never more so than in the recent past. Fred Watt's skills
complement an already strong finance group. A successful
finance function is key to our future success, and a
combination of Fred Watt and Grahame Whitehead makes for an
exceptional leadership team.'

Educated at Allan Glen's School, Glasgow, and Caledonian
University, Glasgow, Fred Watt graduated in 1980, and joined
the accountancy firm of Grant Thornton, where he qualified
as a chartered accountant in 1983.  In 1984 he moved to
County NatWest, the then merchant bank division of NatWest,
where he was responsible in the finance division for
lending, structured finance, and venture capital
investments.  In 1985 he joined Lionheart plc, a listed mini-
conglomerate, as Group Financial Controller, before moving
to Wassall plc in 1989.  He was appointed Finance Director
of Wassall in March 1994.


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