Dividend Declaration

Royal Bank of Scotland Group PLC
28 November 2001

THE ROYAL BANK OF SCOTLAND GROUP plc

DIVIDEND ON SERIES 3 NON-CUMULATIVE CONVERTIBLE PREFERENCE SHARES OF US$0.01

The Directors have declared the dividend payable on the Series 3
non-cumulative convertible preference shares of US$0.01 for the six months to
31 December 2001.

The dividend will be paid on 31 December 2001 at a rate of US$39.08 per share
to holders on the Register at the close of business on 14 December 2001.

28 November 2001

End