Additional Value Shares

Royal Bank of Scotland Group PLC
4 July 2000

The Royal Bank of Scotland Group plc

As announced on 20 June 2000, resolutions in relation to the bonus issue of
Additional Value Shares were passed at an EGM of the shareholders of The Royal
Bank of Scotland Group plc held on that date.

Ordinary shareholders were given the opportunity to have the Additional Value
Shares that they had been allotted sold through a Selling Facility provided by
Goldman Sachs International, Merrill Lynch International and UBS Warburg, as
Joint Bookrunners. The Royal Bank of Scotland Group plc now announces
completion of the bookbuilding process for the sale of the Additional Value
Shares conducted by the Joint Bookrunners.

The  Group  is  pleased to announce that a net selling price of £0.777196  per
Additional Value Share after commissions and dealing expenses, will be paid on
12 July 2000 to Ordinary Shareholders who elected to sell their  Additional
Value Shares through the Selling Facility.

Applications have been made for the Additional Value Shares to be admitted  to
the Official List of the UK Listing Authority and to trade on the London Stock
Exchange. It is expected that Admission will become effective  and  trading
will  commence on 12 July 2000. The Ordinary Shares are also expected to begin
trading 'ex-AVS' on 12 July 2000.