Dividend Declaration

Royal Bank of Scotland Group PLC
29 May 2002

THE ROYAL BANK OF SCOTLAND GROUP plc

DIVIDEND ON SERIES B, SERIES C, SERIES D, SERIES E, SERIES F, SERIES G, SERIES
H, SERIES I, SERIES J AND SERIES K NON-CUMULATIVE DOLLAR PREFERENCE SHARES of
US$0.01 FOR THE THREE MONTHS TO 30 JUNE 2002



The Directors have declared the specified dividends on the undernoted Series of
non-cumulative dollar preference shares, all of which are represented by
American Depositary Shares, for the three months to 30 June 2002. The dividends
will be paid on 28 June 2002 at the undernoted rates to holders on the register
at the close of business on 13 June 2002. 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 13 June 2002.

Series                           Dividend payable per share

Series B                         US$0.63

Series C                         US$0.534375

Series D                         US$0.51328125

Series E                         US$0.50625

Series F                         US$0.478125

Series G                         US$0.4625

Series H                         US$0.453125

Series I                         US$0.50

Series J                         US$0.53125

Series K                         US$0.4921875



29 May 2002

End



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