Dividend Declaration

Royal Bank of Scotland Group PLC
03 March 2003

THE ROYAL BANK OF SCOTLAND GROUP plc

DIVIDEND ON SERIES D, SERIES E, SERIES F, SERIES G, SERIES H, SERIES I, SERIES J
AND SERIES K NON-CUMULATIVE DOLLAR PREFERENCE SHARES of US$0.01 FOR THE THREE
MONTHS TO 31 MARCH 2003

The Directors have declared the specified dividends on the undernoted Series of
non-cumulative dollar preference shares, all of which are represented by
American Depositary Shares, for the three months to 31 March 2003. The dividends
will be paid on 31 March 2003 at the undernoted rates to holders on the register
at the close of business on 14 March 2003. As at the date of this announcement
all of the undernoted Non-cumulative dollar preference shares are held by The
Bank of New York, N.A. as Depositary who have advised that the record date for
the American Depositary Receipts which evidence the undernoted American
Depositary Shares is 14 March 2003.

Series                                               Dividend payable per share
Series D                                             US$0.51328125
Series E                                             US$0.50625
Series F                                             US$0.478125
Series G                                             US$0.4625
Series H                                             US$0.453125
Series I                                             US$0.50
Series J                                             US$0.53125
Series K                                             US$0.4921875



3 March 2003

End


                      This information is provided by RNS
            The company news service from the London Stock Exchange