Dividend Declaration

Royal Bank of Scotland Group PLC
04 June 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 30 JUNE 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 30 June 2003. The dividends
will be paid on 30 June 2003 at the undernoted rates to holders on the register
at the close of business on 13 June 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 13 June 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



4 June 2003

End


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