Dividend Declaration

Royal Bank of Scotland Group PLC
28 April 2004

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 MARCH 2004


The Directors have declared a half-yearly dividend on the 11 per cent and the
5.5 per cent £1 cumulative preference shares. The dividend will be paid on 28
May 2004 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 May 2004.


28 April 2004


End

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