Dividend Declaration

Royal Bank of Scotland Group PLC
21 February 2001

THE ROYAL BANK OF SCOTLAND GROUP plc

DIVIDEND ON SERIES B, SERIES C, SERIES D, SERIES E, SERIES F, SERIES G, SERIES
H, SERIES I AND SERIES J NON-CUMULATIVE DOLLAR PREFERENCE SHARES FOR THE THREE
MONTHS TO 31 MARCH 2001


The Directors have declared the specified dividends on the undernoted Series
of Non-cumulative dollar preference shares, all of which are represented by
American Depositary Shares, for the three months to 31 March 2001. The
dividends will be paid on 30 March 2001 at the undernoted rates to holders on
the register at the close of business on 15 March 2001. As at the date of this
announcement all of the undernoted Non-cumulative dollar preference shares are
held by The Bank of New York, N.A. as Depositary who have advised that the
record date for the American Depositary Receipts which evidence the undernoted
American Depositary Shares is 15 March 2001.

Series                           Dividend payable per share

Series B                         US$0.63

Series C                         US$0.534375

Series D                         US$0.51328125

Series E                         US$0.50625

Series F                         US$0.478125

Series G                         US$0.4625

Series H                         US$0.453125

Series I                         US$0.50

Series J                         US$0.53125

21 February 2001

End