Integration Update

Royal Bank of Scotland Group PLC
05 October 2004

The Royal Bank of Scotland Group plc ('RBS') - Integration Update

Sir Fred Goodwin, Group Chief Executive, today presented at the Merrill Lynch
Banking and Insurance conference in London. As part of his presentation, Sir
Fred provided an update on progress on integrating recent acquisitions, and
confirmed that:-

  • The integrations of Churchill Insurance Group plc and First Active plc are
    fully on track. In addition, the migrations of the information technology
    platforms of the People's Bank credit card portfolio and Bank Von Ernst,
    acquired in March 2004 and December 2003 respectively, on to the equivalent
    RBS IT platforms, are now complete.
  • The acquisition of Charter One Inc completed on 1 September 2004, ahead of
    schedule. The balance sheet repositioning of Charter One to reduce interest
    rate risk has been implemented, in line with the plans outlined at the time
    of the announcement of the acquisition. Management transition has been
    completed and the integration is underway.

For further enquiries, please contact: -

Head of Investor Relations

Richard O'Connor

Tel: [phone]

Head of Group Communications

Carolyn McAdam

Tel: [phone]


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