Royal Bk.of Scot.



                      RBS - Series 3449 - ISIN SE0002025809

            Maturity Date 08 August 2011 - O/S Nominal SEK 84,900,000

Please be advised the folloing issue has been repurchased as follows:


SEK 2,000,000 on 13 September 2007

SEK 2,000,000 on 14 September 2007

SEK 300,000 on 08 January 2008

SEK 600,000 on 17 March 2008


The outstanding balance will therefore be SEK 80,000,000

Please amend your records accordingly.


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