March 27, 2008

Approval of proposal by Royal Bank of Scotland Group

For immediate release

The Federal Reserve Board on Thursday announced its approval of the notice under section 4 of the Bank Holding Company Act by The Royal Bank of Scotland Group plc, Edinburgh, Scotland, to engage, on a limited basis, in physical commodity trading, energy management services, and energy tolling as activities that are complementary to a financial activity.

Attached is the Board's Order relating to this action.

Last Update: March 27, 2008