Dividend Declaration

Royal Bank of Scotland Group PLC
01 December 2003

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 2003



The Directors have declared a half-yearly dividend on the 11 per cent and 5.5
per cent £1 cumulative preference shares of £1. The dividend will be paid on 31
December 2003 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 16 December 2003.


1 December 2003

End


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