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Royal Bk.of Scot. (81NQ)

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Wednesday 28 May, 2003

Royal Bk.of Scot.

Early Redemption

Early Redemption 

    LONDON--(BUSINESS WIRE)--May 28, 2003--

Royal Bank of Scotland, Series 102- XS0098841496

Please be advised that the above issues have been called at par on
25 June 2003. The outstanding balance will therefore be ZERO.

   Short Name: Royal Bk.of Scot.
   Category Code: MSC
   Sequence Number: 00005220
   Time of Receipt (offset from UTC): 20030528T173854+0100