Pref capital securities price

Royal Bank of Scotland Group PLC
27 September 2007


THE ROYAL BANK OF SCOTLAND GROUP PLC PRICES US$ 1.6 BILLION 
PREFERRED CAPITAL SECURITIES

27th September 2007


The Royal Bank of Scotland Group plc ('the Group') has priced US$ 1.6 billion in
aggregate principal amount of Preferred Capital Securities ('US$ Preferred
Securities').


The US$ Preferred Securities will pay a fixed 6.99% coupon per annum payable
semi-annually in arrear on April 5 and October 5 until October 5, 2017. The US$
Preferred Securities are redeemable at the option of the Group in whole but not
in part on October 5, 2017 and on any coupon payment date thereafter at par.
After October 5, 2017 the coupon rate will adjust to 3-month US$ Libor + 2.67%.
The US$ Preferred Securities will be issued in minimum denominations of US$
100,000 and integral multiples of US$1,000 in excess thereof.


The US$ Preferred Securities offered will not be and have not been registered
under the U.S. Securities Act of 1933, as amended (the 'Securities Act'), and
may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements under the Securities Act.


For further information, please contact;


The Royal Bank of Scotland Group plc

Guy Whittaker                  Ron Huggett
Group Finance Director         Director,
Executive House G              Capital Management and Securitisation
RBS Gogarburn                  280 Bishopsgate
PO Box 1000                    London
Edinburgh                      EC2M 4RB
EH12 1HQ                       Tel: [phone]
Tel: [phone]


This announcement is not an invitation nor is it intended to be an inducement to
engage in investment activity for the purpose of Section 21 of the Financial
Services and Markets Act 2000 of the United Kingdom (the 'FSMA'). To the extent
that this announcement does constitute an inducement to engage in any investment
activity included within this announcement, it is directed only at (i) persons
who are outside the United Kingdom, (ii) persons who are investment
professionals within the meaning of Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (as amended) of the United
Kingdom (the 'Financial Promotion Order'); (iii) persons who fall within
Articles 49(2)(a) to (d) ('high net worth companies, unincorporated associations
etc.') of the Financial Promotion Order; and (iv) any other persons to whom this
announcement for the purposes of Section 21 of FSMA can otherwise lawfully be
made (all such persons together being referred to as 'relevant persons'), and
must not be acted on or relied upon by persons other than relevant persons. Any
invitation or inducement to engage in any investment activity included within
the announcement is available only to relevant persons and will be engaged in
only with relevant persons. Anyone other than a relevant person must not rely on
this announcement.


This announcement is an advertisement and is not a prospectus for the purposes
of EU Directive 2003/71/EC (the 'Directive') and/or Part VI of the Financial
Services and Markets Act 2000. A prospectus will be prepared and made available
to the public in accordance with the Directive.



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