21 July 2016

The Royal Bank of Scotland Group plc ("RBS") - VocaLink Holdings Limited Shareholding

On 21 July 2016, MasterCard Incorporated announced the proposed acquisition of VocaLink Holdings Limited ("VHL").

RBS is a 21.4% shareholder in VHL. RBS's share of the sale proceeds will comprise cash on completion and contingent earn-out consideration which is potentially payable in 2019, subject to performance.

RBS expects to report an initial pre-tax gain of approximately £150 million on completion of the transaction.

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