Additional Value Shares

Royal Bank of Scotland Group PLC
28 November 2003









The Royal Bank of Scotland Group plc ('RBS')

Additional Value Shares ('AVSs') - Cancellation of Listing



RBS announces that it has today posted to AVS holders notice of its intention to
cancel the listing of the AVSs on the Official List of the UK Listing Authority,
following payment of the final AVS dividend of 55p on 1 December 2003. Trading
in the AVSs on the London Stock Exchange's market for listed securities will
cease on or about 22 December 2003.

In accordance with the terms of issue, on de-listing the AVSs will be converted
to Non voting Deferred Shares, be transferred to RBS and subsequently cancelled.

A copy of the notice has been submitted to the UK Listing Authority and will be
available for inspection at the UK Listing Authority's Document Viewing
Facility, which is situated at:

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





28 November 2003










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