Dividend Declaration

Royal Bank of Scotland Group PLC
24 May 2004



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 2004



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 2004. The dividends
will be paid on 30 June 2004 at the undernoted rates to holders on the register
at the close of business on 15 June 2004. 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 15 June 2004.

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




24 May 2004

End


THE ROYAL BANK OF SCOTLAND GROUP plc


DIVIDEND ON SERIES 3 NON-CUMULATIVE CONVERTIBLE DOLLAR PREFERENCE SHARES OF
US$0.01 FOR THE PERIOD TO 30 JUNE 2004


The Directors have declared the specified dividends on the undernoted series of
non-cumulative convertible dollar preference shares, all of which are
represented by American Depositary Shares, for the six months to 30 June 2004.
The dividends will be paid on 30 June 2004 at the undernoted rates to holders on
the register at the close of business on 15 June 2004. 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 15 June 2004.


Series                                               Dividend payable per share

Series 3                                             US$39.08




24 May 2004

End


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