Scrip Dividend

Royal Bank of Scotland Group PLC
12 October 2000


The Royal Bank of Scotland Group plc (the 'Company')

2,951,701 new ordinary shares of 25 pence each will be allotted on Friday 13
October 2000 as fully paid up under the Company's Scrip Dividend Scheme. These
new shares rank pari passu in all respects with the existing shares of the
Company. Application has been made for the new shares to be admitted to the
Official List.

Further copies of this announcement are available at the Company's Offices at
36 St Andrew Square, Edinburgh, EH2 2YB and Waterhouse Square, 138 - 142
Holborn, London, EC1N 2TN.