Dividend Declaration

Royal Bank of Scotland Group PLC
31 July 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 30 SEPTEMBER 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 30 September 2002. The
dividends will be paid on 30 September 2002 at the undernoted rates to holders
on the register at the close of business on 13 September 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 September 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




31 July 2002

End




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