Dividend

Royal Bank of Scotland Group PLC
27 September 2000


THE ROYAL BANK OF SCOTLAND GROUP plc

DIVIDEND ON SERIES 1 AND SERIES 2 NON-CUMULATIVE CONVERTIBLE DOLLAR PREFERENCE
SHARES FOR THE PERIOD TO 30 SEPTEMBER 2000

The Directors have declared the specified dividends on the undernoted
Series of Non-cumulative convertible dollar preference shares, all of which
are represented by American Depositary Shares, for the period from 6 March
2000 to 30 September 2000.  The dividends will be paid on 29 September 2000 at
the undernoted rates to holders on the register at the close of business on
14 September 2000.  As at the date of this announcement all of the undernoted
Non-cumulative dollar preference shares are held by The Bank of New York, N.A.
as Depositary who have advised that the record date for the American
Depositary Receipts which evidence the undernoted American Depositary Shares
is 14 September 2000.

Series                   Dividend payable per share

Series 1                 US$51.66866667
Series 2                 US$49.963