Dividend Declaration

Royal Bank of Scotland Group PLC
21 February 2001


THE ROYAL BANK OF SCOTLAND GROUP plc

DIVIDEND ON NON-CUMULATIVE CONVERTIBLE PREFERENCE SHARES OF EURO 0.01

The Directors have declared the specified dividend on the non-cumulative
convertible preference shares of Euro 0.01 for the period 6 March 2000 to 31
March 2001.

The dividend will be paid on 30 March 2001 at a rate of Euro 72.40138889 per
share to holders on the register at close of business on 30 March 2001.

21 February 2001

End