Citizens Financial Group lowers prime lending rate to 7.50 percent from 7.75 percent

Providence, R.I.       (October 31, 2007) - Citizens Financial Group, Inc. announced it is lowering its prime lending rate at its banking divisions, Citizens Bank and Charter One, to 7.50 percent from 7.75 percent, effective today, October 31, 2007.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is a $159 billion commercial bank holding company. It is headquartered in Providence, R.I., and, through its subsidiaries, has more than 1,600 branches, more than 3,300 ATMs and more than 24,500 employees. Its two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 13-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Indiana, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. It is one of the 10 largest commercial banking companies in the United States ranked by assets and deposits. CFG is owned by RBS (The Royal Bank of Scotland Group plc).

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Citizens Bank is a brand name of RBS Citizens, N.A. and Citizens Bank of Pennsylvania. Citizens Bank is a division of RBS Citizens, N.A. and Citizens Bank accounts and other RBS Citizens, N.A. accounts are not separately insured by the FDIC. Citizens Bank of Pennsylvania is not part of RBS Citizens, N.A.
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