Disposal of UBIM Completed

Royal Bank of Scotland Group PLC
3 July 2000


COMPLETES THE SALE OF UBIM TO KBC

The Royal Bank of Scotland Group plc's subsidiary Ulster Bank Limited has
completed the sale of Ulster Bank Investment Managers Limited ('UBIM'),its
fund management business, to KBC Group ('KBC'), a diversified banking and
insurance group headquartered in Brussels.

An announcement that an agreement had been reached for this transaction was
made on 5 May 2000.

For further information, please contact:

Finlay Williamson
Head of Group Corporate Finance, RBS         Tel:[phone]

Paddy McMahon
Deputy Group Chief Executive, Ulster Bank    Tel:[phone]