Dividend Declaration

Royal Bank of Scotland Group PLC
28 November 2001

THE ROYAL BANK OF SCOTLAND GROUP plc

DIVIDEND ON 11 PER CENT AND 5.5 PER CENT CUMULATIVE PREFERENCE SHARES FOR THE
HALF YEAR TO 31 DECEMBER 2001

The Directors have declared a half-yearly dividend on the 11 per cent and the
5.5 per cent cumulative preference shares of £1. The dividend will be paid on
31 December 2001 at the rate of 5.5 per cent and 2.75 per cent, respectively
and will be paid to those preference shareholders on the Register at the close
of business on 7 December 2001.

28 November 2001

End