Dividend Declaration

Royal Bank of Scotland Group PLC
29 August 2003


THE ROYAL BANK OF SCOTLAND GROUP plc

DIVIDEND ON 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 2003

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 2003. The
dividends will be paid on 30 September 2003 at the undernoted rates to holders
on the register at the close of business on 15 September 2003. 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 September 2003.

Series                                                Dividend payable per share
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




1 September 2003

End


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