Scrip Dividend

Royal Bank of Scotland Group PLC
05 June 2003




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


37,111,848 new ordinary shares of 25 pence each will expect to be listed on 6
June 2003 as fully paid up under the Company's Scrip Dividend Scheme. These new
shares will rank pari passuin all respects with the existing shares of the
Company. Application has been made for the shares to be admitted to the Official
List and approval of the block listing application is expected on 6 June 2003.



Further copies of this announcement are available at the Company's Offices at 36
St Andrew Square, Edinburgh, EH2 2YB and a copy of the above document has been
submitted to the UK Listing Authority, and will shortly be available for
inspection at the UK Listing Authorities Document Viewing Facility, which is
situated at:


Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

Tel: [phone]











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