Dividend Declaration

Royal Bank of Scotland Group PLC
01 December 2003

THE ROYAL BANK OF SCOTLAND GROUP plc

DIVIDEND ON SERIES 3 NON-CUMULATIVE CONVERTIBLE PREFERENCE SHARES OF US$0.01



The Directors have declared the dividend payable on the Series 3 US$0.01
non-cumulative convertible preference shares of for the six months to 31
December 2003.

The dividend will be paid on 31 December 2003 at a rate of US$39.08 per share to
holders on the Register at the close of business on 16 December 2003.





1 December 2003

End


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