Dividend Declaration

Royal Bank of Scotland Group PLC
20 February 2002



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 31 MARCH 2002



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 2002. The dividends
will be paid on 28 March 2002 at the undernoted rates to holders on the Register
at the close of business on 13 March 2002. 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 March 2002.


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$0.4921875





20 February 2002

End



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