Citizens Bank and Charter One Bank Branches in 13 States Accepting Donations for Hurricane Katrina Relief Effort

Citizens and Charter One will match employee donations to Salvation Army

PROVIDENCE, R.I-- Lawrence K. Fish, Chairman,

President & CEO of Citizens Financial Group, Inc., has announced that

donations are being accepted on behalf of the American Red Cross and The

Salvation Army at all Citizens Bank and Charter One branches to aid in the

Hurricane Katrina relief efforts. Donations can be made at more than 1,600

locations throughout Citizens Financial Group's 13-state retail banking

network. Both agencies have said 100 percent of all such donations will be

sent directly to the region affected by Hurricane Katrina.

Fish also announced that Citizens will match donations made to The

Salvation Army by Citizens Financial Group employees through September 30.

The corporate contribution will be made by the Citizens Bank and Charter One

Charitable Foundations.

"Words can't describe the magnitude of the devastation throughout the Gulf

Coast," said Fish. "Like all Americans we are deeply saddened by the events

unfolding in Louisiana, Mississippi and Alabama. Donations can be made to the

Red Cross and/or the Salvation Army at any Citizens Bank or Charter One branch

to help those affected in starting their lives over."

In Michigan, donations can be made at any of the 127 Charter One Bank

branches through the state.

"Michiganians, like others, have always been generous in offering

assistance to those affected by a disaster," said Sandra E. Pierce, President

& CEO of Charter One Bank of Michigan. "I know that Michigan residents will

help their fellow Americans in this time of need."

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is a $148 billion commercial bank holding

company. It is headquartered in Providence, R.I., and has more than 1,600

branches, approximately 3,100 ATMs and more than 27,000 employees. It

operates its 13-state branch network in Connecticut, Delaware, Illinois,

Indiana, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio,

Pennsylvania, Rhode Island, Vermont, and has non-branch offices in more than

30 states. Citizens is the eighth largest commercial banking company in the

United States ranked by deposits. Citizens is owned by RBS (The Royal Bank of

Scotland Group plc).

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.