Director Shareholding

Royal Bank of Scotland Group PLC
20 December 2000

                                 SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

     1. Name of company
        The Royal Bank of Scotland Group plc


        2) Name of director

        Norman Cardie McLuskie

        3) Please state whether notification indicates that it is in respect
        of
        holding of the shareholder named in 2 above or in respect of a
        non-beneficial interest or in the case of an individual holder if it
        is a holding of that person's spouse or children under the age of 18
        or in respect of a non-beneficial interest

        Self

        4) Name of the registered holder(s) and, if more than one holder, the
        number of shares held by each of them (if notified)
        Norman Cardie McLuskie


        5) Please state whether notification relates to a person(s) connected
        with the Director named in 2 above and identify the connected person
        (s)

        Self

        6) Please state the nature of the transaction. For PEP transactions
        please indicate whether general/single co PEP and if discretionary/non
        discretionary

        Exercise of Executive Share Option Scheme Options - 1996 and 1997
        Grants and sale of shares

        7) Number of shares/amount of
        stock acquired

        1996 Grant - 144,536
        1997 Grant - 49,544


                8) Percentage of issued class

                -

                9) Number of shares/amount
                of stock disposed

                194,080

                10) Percentage of issued class

                -

                11) Class of security

                Ordinary Shares of 25p each

                12) Price per share

                £15.23

                13) Date of transaction

                15 December 2000

                14) Date company informed

                19 December 2000

                15) Total holding following this notification

                103,731

                16) Total percentage holding of issued class following this
                notification

                -

                If a director has been granted options by the company please
                complete the following boxes

                17) Date of grant

                7 June 1996 and 14 August 1997

                18) Period during which or date on which exercisable

                7 June 1999 - 7 June 2006 and 14 August 2000 - 14 August 2007

                19) Total amount paid (if any) for grant of the option

                -
                20) Description of shares or debentures involved: class,
                number

                Ordinary Shares of 25p each


                21) Exercise price (if fixed at time of grant) or indication
                that price
                is to be fixed at time of exercise

                1996 Grant - £4.96

                1997 Grant - £5.58


                22) Total number of shares or debentures over which options
                held
                following this notification

                109,767

                23) Any additional information



                24) Name of contact and telephone number for queries
                Hew Campbell, Head of Group Secretariat
                0131 523 4711

                25) Name and signature of authorised company official
                responsible for
                making this notification

                Date of Notification 20 December 2000