Dividend Declaration

Royal Bank of Scotland Group PLC
26 July 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, SERIES J AND SERIES K NON-CUMULATIVE DOLLAR PREFERENCE SHARES of
US$0.01 FOR THE THREE MONTHS TO 30 SEPTEMBER 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 30 September 2001. The
dividends will be paid on 28 September 2001 at the undernoted rates to holders
on the register at the close of business on 13 September 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 13 September 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

Series K*                        US$0.583875

*for the period from 12 June 2001 to 30 September 2001

25 July 2001

End