Acquisition

Royal Bank of Scotland Group PLC
01 September 2004

RBS COMPLETES CHARTER ONE ACQUISITION

Citizens Financial Group, Inc., a wholly owned subsidiary of The Royal Bank of
Scotland Group plc, has announced the completion of the acquisition of Charter
One Financial, Inc. with the transaction becoming effective yesterday evening,
31 August 2004.

1 September 2004




For further Information Contact:

Investor Relations

Richard O'Connor      0207 672 1763

07909 873681

Media

Carolyn McAdam        0131 523 2055

07796 274968


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