Citizens acquire GreatBanc

Royal Bank of Scotland Group PLC
30 October 2006

RBS subsidiary, Citizens Financial Group Inc., to acquire GreatBanc, Inc.

Charter One becomes 4th largest bank in the Chicago region.

30 October, 2006

Citizens Financial Group Inc, parent company of Charter One Bank and wholly
owned subsidiary of RBS, has agreed to acquire GreatBanc, Inc. in a cash
transaction for approximately $180m, which represents a premium to deposits of
just over 12.5%. The transaction will make Charter One the fourth largest
commercial banking operation by deposits in the greater Chicago area.

GreatBanc, Inc is headquartered in Lisle, Illinois. GreatBanc, Inc. is a bank
holding company with three community banking subsidiaries. GreatBanc, Inc.
operates 10 banking locations in three counties around Chicago.

The transaction is expected to complete, subject to regulatory approval, in the
first quarter of 2007.

For further information:

Media Relations
Howard Moody

Group Director, Communications
0207 672 1923
00 44 7768 033562

Investor Relations
Richard O'Connor

Head of Investor Relations
0207 672 1763
00 44 7909 873681


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