The Royal Bank of Scotland Announces Partnership With Jack Nicklaus

EDINBURGH, Scotland, January 23, 2003 - The Royal Bank of Scotland Group (RBS) has entered into a new partnership with legendary golfer Jack Nicklaus that will see its support and involvement with world golf extended to the United States. The global relationship between RBS and Nicklaus will be launched at this weekend's ConAgra Foods Champions Skins Game in Hawaii, when RBS will be the first non-golf brand to appear on Jack Nicklaus' golf bag.

RBS has been involved with golf for more than a century through its association with The Open Championship in Britain. The group recently strengthened its links with UK and European golf by becoming the official bank of the PGA European Tour and a sponsor of the 2002 Ryder Cup.

"This new partnership evolved from a meeting with Jack where we realized that his philosophy of 'less talk, more action' mirrored that of the bank," said Fred Goodwin, group chief executive for The Royal Bank of Scotland Group. "We quickly appreciated that Jack's status within the golf industry and his worldwide reputation in business was ideal for championing the RBS brand.

"He is globally respected for a combination of performance, integrity and stature -- attributes that all fit well with the way we do business. I am delighted that he has agreed to be our partner."

Jack Nicklaus is widely considered the greatest golfer in the history of the sport. He has 100 professional tournament victories worldwide, including a record 18 professional major championships. The Golden Bear has three British Open victories, all in Scotland, including wins in 1970 and 1978 on the Old Course at St. Andrews, the anointed home of golf.

"As one of the world's most successful and powerful banking institutions, The Royal Bank of Scotland has a long-standing commitment to the sport to which I have dedicated my life," Nicklaus said. "The more I learned about RBS and its worldwide presence and influence, the more I knew this partnership would be right for me, for the Nicklaus organization and RBS."