RNS Number:7792T
First Active PLC
02 January 2004

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM UNITED STATES, AUSTRALIA, CANADA OR JAPAN



                                FIRST ACTIVE PLC

                                 2 January 2004



     Recommended Acquisition of First Active plc by Ulster Bank Limited, a
        wholly-owned subsidiary of The Royal Bank of Scotland Group plc

by means of a Scheme of Arrangement under Section 201 of the Companies Act, 1963
                                   of Ireland



                         EXPECTED TIMING OF COMPLETION

 First Active plc ('First Active') advises that it intends to deliver a copy of
the High Court Order and minute approved by the Court sanctioning the Scheme and
confirming the related reduction of capital for registration by the Registrar of
Companies on 5 January 2004. It is expected that the Registrar of Companies will
register the High Court Order and issue a certificate of registration (thereby
bringing the Scheme and associated reduction of capital into effect and
satisfying the final condition of the Acquisition) by close of business on 5
January 2004.

Accordingly the Scheme Record Time is expected to be 6.00 pm today, 2 January
2004. Trading in First Active Shares on the Irish Stock Exchange and the London
Stock Exchange, and listing of First Active Shares on the Official Lists of the
Irish Stock Exchange and UK Listing Authority will be suspended, at the request
of First Active, prior to the start of business on 5 January 2004. Cancellation
of trading and listing will then occur prior to the start of business on 6
January 2004.

An announcement of the timetable for completion of the Acquisition will be
issued when the certificate of registration referred to above has been received.



Responsibility Statement

The directors of First Active accept responsibility for the information
contained in this announcement. To the best of the knowledge and belief of the
directors of First Active, the information contained in this announcement is in
accordance with the facts and does not omit anything likely to affect the import
of such information.

The directors of RBS accept responsibility for the information contained in this
announcement insofar as it relates to members of the RBS Group. To the best of
the knowledge and belief of the directors of RBS, the information contained in
this announcement for which they accept responsibility is in accordance with the
facts and does not omit anything likely to affect the import of such
information.

JPMorgan and Davy Corporate Finance are acting for First Active and no-one else
in connection with the Acquisition and will not be responsible to anyone other
than First Active for providing the protections afforded to clients of JPMorgan
and Davy Corporate Finance or for providing advice in relation to the
Acquisition.

Merrill Lynch is acting for RBS and no-one else in connection with the
Acquisition and will not be responsible to anyone other than RBS for providing
the protections afforded to clients of Merrill Lynch or for providing advice in
relation to the Acquisition.

Terms defined in the Scheme Circular have the same meaning in this announcement.



Enquiries:

JPMORGAN      Telephone: +44 20 7742 4000

Terence Eccles

Alexander Justham



DAVY CORPORATE FINANCE      Telephone: +353 1 679 6363

Hugh McCutcheon

Eugenee Mulhern



GIBNEY COMMUNICATIONS      Telephone: +353 1 661 0402

(PR Advisers to First Active)

Ita Gibney

Jamie Kennedy



THE ROYAL BANK OF SCOTLAND

Howard Moody (Press Enquiries)      Telephone: +44 131 523 2056

Richard O'Connor (Investor Relations)      Telephone: +44 20 7672 1758



MERRILL LYNCH      Telephone: +44 20 7628 1000

Matthew Greenburgh

Henrietta Baldock



END




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