Subsid's Acqn Completed

ROYAL BANK OF SCOTLAND GROUP PLC
4 October 1999


THE ROYAL BANK OF SCOTLAND GROUP plc ('Royal Bank Group') COMPLETES THE
ACQUISITION OF COMMERCIAL BANKING BUSINESS OF STATE STREET

The Royal Bank Group's US subsidiary, Citizens Financial Group, Inc., has
completed the acquisition of the commercial banking business of State Street
Corporation. The transaction also includes 4 branches in Quincy and Boston.

The agreement to acquire the commercial banking business of State Street
Corporation was announced on 6 May 1999

For further information, please contact
David Appleton, Head of Media Relations               Tel: [phone]