RNS Number:8659T
First Active PLC
05 January 2004

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM UNITED STATES, AUSTRALIA, CANADA OR JAPAN


                                FIRST ACTIVE PLC

                                 5 January 2004

     Recommended Acquisition of First Active plc by Ulster Bank Limited, a
        wholly-owned subsidiary of The Royal Bank of Scotland Group plc

by means of a Scheme of Arrangement under Section 201 of the Companies Act, 1963
                                   of Ireland


                             ACQUISITION COMPLETION

First Active plc ('First Active') announces that the Registrar of Companies has
today issued a certificate of registration of the Court Order sanctioning the
Scheme and confirming the related reduction of capital. All conditions of the
Acquisition have therefore now been satisfied and the Acquisition will complete
in accordance with the following timetable.

Timetable of Principal Events

Event                                                          Time and/or date

Effective Date of the Scheme                                   5 January 2004

Cancellation of listing by        Before the start of business on 6 January 2004
Irish Stock Exchange and UK 
Listing Authority and of trading 
on Irish Stock Exchange and 
London Stock Exchange markets 
for listed securities of First 
Active Shares

Payments credited to CREST accounts in                        By 19 January 2004
respect of First Active Shares held in
uncertificated form (as appropriate)

Despatch of payment in respect of                             By 19 January 2004
First Active Shares held in 
certificated form
(as appropriate)

                                                              



Responsibility Statement

The directors of First Active accept responsibility for the information
contained in this announcement. To the best of the knowledge and belief of the
directors of First Active, the information contained in this announcement is in
accordance with the facts and does not omit anything likely to affect the import
of such information.

The directors of RBS accept responsibility for the information contained in this
announcement insofar as it relates to members of the RBS Group. To the best of
the knowledge and belief of the directors of RBS, the information contained in
this announcement for which they accept responsibility is in accordance with the
facts and does not omit anything likely to affect the import of such
information.

JPMorgan and Davy Corporate Finance are acting for First Active and no-one else
in connection with the Acquisition and will not be responsible to anyone other
than First Active for providing the protections afforded to clients of JPMorgan
and Davy Corporate Finance or for providing advice in relation to the
Acquisition.

Merrill Lynch is acting for RBS and no-one else in connection with the
Acquisition and will not be responsible to anyone other than RBS for providing
the protections afforded to clients of Merrill Lynch or for providing advice in
relation to the Acquisition.

Terms defined in the Scheme Circular have the same meaning in this announcement.

Enquiries:


JPMORGAN

Terence Eccles

Alexander Justham

                                                     Telephone: +44 20 7742 4000

DAVY CORPORATE FINANCE

Hugh McCutcheon

Eugenee Mulhern

                                                      Telephone: +353 1 679 6363

GIBNEY COMMUNICATIONS

(PR Advisers to First Active)

Ita Gibney

Jamie Kennedy

                                                      Telephone: +353 1 661 0402

THE ROYAL BANK OF SCOTLAND

Howard Moody (Press Enquiries)

Richard O'Connor (Investor Relations)



                                                     Telephone: +44 131 523 2056

                                                     Telephone: +44 20 7672 1758

MERRILL LYNCH

Matthew Greenburgh

Henrietta Baldock

                                                     Telephone: +44 20 7628 1000


END


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