Issue of Debt

Royal Bank of Scotland Group PLC
30 November 2006


The Royal Bank of Scotland Group plc

30th November 2006

THE ROYAL BANK OF SCOTLAND GROUP PLC AND RBS CAPITAL TRUST D COMPLETE SALE OF
GBP 400 MILLION NON-CUMULATIVE TRUST PREFERRED SECURITIES

The Royal Bank of Scotland Group plc ('RBSG') has issued GBP 400 million of
non-cumulative Trust Preferred Securities ('the Securities') through RBS Capital
Trust D ('Trust D').

The Securities will pay a fixed 5.6457% coupon per annum until June 8, 2017. The
Securities are redeemable at the option of Trust D in whole or in part on June
8, 2017 and on any distribution payment date thereafter at par. After June 8,
2017 the distribution rate will adjust to 3-month Sterling Libor + 1.69%. The
Securities have a liquidation preference of GBP 1,000 each.

RBS Global Banking & Markets, together with Banc of America Securities Ltd, JP
Morgan Securities Ltd, Lehman Brothers International (Europe) and Wachovia
Securities International Ltd acting as senior co-managers, managed the issue of
these Securities for the Group.

Settlement of the Securities is on December 8, 2006.

The Securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the 'Securities Act'), or under any state
securities laws and may not be offered, sold or delivered in the United States,
or to or for the account or benefit of US persons (as defined under Regulation S
under the Securities Act) unless registered under the Securities Act or an
exemption from the registration requirements of the Securities Act is available.
The Securities are being offered and sold only to certain persons in
transactions outside the United States in compliance with Regulation S under the
Securities Act.

For further information, please contact:

The Royal Bank of Scotland Group plc
Guy Whittaker                        Ron Huggett
Group Finance Director               Director, Capital Management
RBS Gogarburn                        280 Bishopsgate
Edinburgh                            London
EH12 1HQ                             EC2M 4RB
Tel: [phone]                   Tel: [phone]

RBS Global Banking & Markets
Gordon Taylor
Director, Primary Markets
135 Bishopsgate
London
EC2M 3UR
Tel [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange