Wolf Haldenstein Adler Freeman & Herz LLP Commences Class Action Lawsuit on Behalf of Royal Bank of Scotland Group PLC Preferred Series T Stock Investors

Wolf Haldenstein Adler Freeman & Herz LLP today filed a class action lawsuit in the United States District Court, Southern District of New York, on behalf of all persons who purchased the Preferred Series “T” stock (“Preferred T”) of Royal Bank of Scotland Group PLC (“RBS” or the “Company”) [NYSE: RBS-T, RBS-PT, and CUSIP 780097713] from the date of the Company’s public offering on September 20, 2007 (the “Offering”), and all purchasers traceable thereto (the “Class Period”) against certain officers and directors of RBS and the lead underwriters of the Offering, pursuant to Sections 11 and 15 of the Securities Act of 1933 (the “Securities Act”), 15 U.S.C. §§ 77k, 77l and 77o (the “Class”).

The case name is styled Harold H. Powell Trust v. Royal Bank of Scotland Group PLC, et al. A copy of the complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at www.whafh.com.

The Complaint alleges that the Company’s Preferred T Prospectus contained both material misstatements and omissions, which Plaintiff and the Class relied upon to their detriment. The representations made in the Prospectus were materially false and misleading because at the time of the Offering, RBS was already suffering from several adverse factors that were not revealed and/or adequately addressed in the document. These factors include, but are not limited to, (i) the failure to disclose the Company’s extensive investments in asset backed securities, including collateralized debt obligations (CDOs), and their exposure to the subprime mortgage market; (ii) the failure to disclose all of the risks associated with the purchase of ABN Amro’s assets; (iii) the insufficient capital levels; (iv) the failure to adequately write-down bad assets; and, (v) the failure to prevent and remedy such improper and harmful actions that resulted in the Company being bailed out by the British government.

The Complaint asserts that Defendants could have – and should have – discovered the material misstatements and omissions in the Company’s Prospectus prior to its filing with the SEC and distribution to the investing public. Instead, they failed to do so as a result of a negligent and grossly inadequate due diligence investigation.

As a result of the dissemination of the false and misleading statements set forth in the complaint, the market price of RBS Preferred T was artificially inflated during the Class Period. In ignorance of the false and misleading nature of the statements described in the complaint, plaintiff and the other members of the Class relied, to their detriment, on the integrity of the market price of RBS Preferred T. Had plaintiff and the other members of the Class known the truth, they would not have purchased said securities, or would not have purchased them at the inflated prices that were paid.

If you purchased RBS Preferred T during the Class Period, you may request that the Court appoint you as lead plaintiff no later than 60 days from today. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 70 attorneys in various practice areas; and offices in Chicago, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Gregory M. Nespole, Esq., David L. Wales, Esq., Martin E. Restituyo, Esq. or Derek Behnke), via e-mail at classmember@whafh.com or visit our website at www.whafh.com. All e-mail correspondence should make reference to RBS Preferred T.