Bonus Issue

Royal Bank of Scotland Group PLC
26 April 2007



The Royal Bank of Scotland Group plc
Bonus Issue


26 April 2007


The Royal Bank of Scotland Group plc (the 'Company') announces today that at the
Annual General Meeting held yesterday a resolution was passed approving the
proposed bonus issue of two new Ordinary Shares of 25p each ('New Shares') for
each existing Ordinary Share held by each shareholder on the register on 4 May
2007 (the 'Bonus Issue'). The New Shares will rank pari passu with the existing
issued Ordinary Shares but will exclude the right to receive the final dividend
for the financial year ended 31 December 2006.

The Bonus Issue is conditional upon admission of the New Shares to the Official
List of the UK Listing Authority and to trading on the London Stock Exchange.
Application has been made to the London Stock Exchange and the UK Listing
Authority for up to 6,434,972,616 New Shares to be admitted to the Official List
and to trading, and it is expected that listing will become effective and that
dealings will commence on 8 May 2007. Share certificates in respect of the New
Shares are expected to be posted to shareholders whose shares are held in
certificated form on 14 May 2007. The New Shares are expected to be credited to
the CREST accounts of those shareholders whose Ordinary Shares are held in CREST
on 8 May 2007.

As a result of the Bonus Issue, the price of each Ordinary Share will change to
approximately one third of its present level when the existing Ordinary Shares
are quoted 'post-bonus issue' (which is expected to be on 8 May 2007). This
reflects the fact that each shareholder will have three times as many shares as
were held immediately before the issue of the New Shares.

Further copies of this announcement are available at the Company's Offices at 36
St Andrew Square, Edinburgh, EH2 2YB and at the Company Announcement's
Department, The Stock Exchange.






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