Novation of Roles of Seller, Servicer and Member

The Royal Bank of Scotland plc

(Incorporated in Scotland with limited liability under the Companies Acts 1948 to 1980, registered number SC090312)

€25,000,000,000 Global Covered Bond Programme

Unconditionally and irrevocably guaranteed as to payments of interest and principal by

RBS Covered Bonds Limited Liability Partnership

(a limited liability partnership incorporated in England and Wales)

(the Programme)

Novation of the roles of Seller, Servicer and Member of the LLP

Following a decision of The Royal Bank of Scotland plc to transfer the mortgage business of National Westminster Home Loans Limited to National Westminster Bank Plc, the roles of Seller, Servicer and Member of the LLP under the programme have been novated from National Westminster Home Loans Limited to National Westminster Bank Plc pursuant to a global deed of novation dated 1 November 2012.

For further information, please contact:

Liam Coleman, Deputy Group Treasurer

The Royal Bank of Scotland plc

5th Floor, 280 Bishopsgate

London, EC2M 4RB

+44 20 7085 6617

Justin Fox, Head of Long Term Liability Strategy

The Royal Bank of Scotland plc

5th Floor, 280 Bishopsgate

London, EC2M 4RB

+44 20 7672 3819

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