Dates Subord Fixed Rate Notes

Royal Bank of Scotland Group PLC
11 April 2001


THE ROYAL BANK OF SCOTLAND GROUP plc

THE ROYAL BANK OF SCOTLAND plc

DATED SUBORDINATED FIXED RATE NOTES

The Royal Bank of Scotland plc ('the Bank') is pleased to announce that it
intends to offer dated subordinated fixed rate notes denominated in Euros.

Lehman Brothers and The Royal Bank of Scotland, Financial Markets have been
appointed as Joint Lead Managers to advise the Bank on this transaction.

It is intended that the notes will be issued under the Bank's Euro Medium Term
Note Programme. The notes are expected to be rated Aa3/A+/AA- by Moody's, S&P
and Fitch respectively. It is proposed that the notes will be listed on the
London Stock Exchange, when issued.


Enquiries to:

The Royal Bank of Scotland plc

Grahame Whitehead

Deputy Group Finance Director

Tel: [phone]

Ron Huggett

Capital Raising Director

Tel: [phone]