Royal Bank of Scotland Group PLC

As Agent Bank, please be advised of the following rate determined on:29-Dec-2003

Issue               : Royal Bank Of Scotland - Series 60
                      �150,000,000 (MTN) FRN Perpetual
ISIN Number         : XS0074797357
Issue Nomin     GBP : 150,000,000.00
Period              : 29-Dec-2003 to 26-Mar-2004      Payment Date 26-Mar-2004
Number of Days      : 88
Rate                : 4.54
Denomination    GB  : 100,000.00

Amount Payable 
per Denomination    : 1,091.69

Institutional       Telephone   44(0) 1202 34 1286

Trust Services      Facsimile   44(0) 1202 34 7438