Citizens Financial Group names Dana A. Drago as Vice Chairman for its Retail and Business Banking Group

Providence, R.I.    (May 21, 2007) - Citizens Financial Group, Inc. today announced the appointment of Dana A. Drago as Vice Chairman in charge of Citizens’ Retail and Business Banking Group.  She will be a member of Citizens’ Executive Management Committee and will report to Citizens Financial Group’s CEO and President Stephen D. Steinour.

At Citizens, Drago will be responsible for Retail Banking which is comprised of more than 1,600 Citizens Bank and Charter One traditional and in-store branches, Business Banking which has approximately 400 business banking officers serving small businesses in 13 states, and Corporate Marketing which includes advertising, brand management and product development.

Drago joins Citizens from Hartford Financial Services Group where she has been Executive Vice President, Sales and Distribution for property and casualty insurance. In this capacity, she oversaw the company’s property and casualty insurance sales operation, which produces $8 billion in annual revenue. Additionally, she had responsibility for the Six Sigma function.

“Dana’s breadth of experience and success in the financial services industry will be an asset to Citizens,” said Steinour. “She has a strong background focused on consumer and business banking, as well as marketing. She is an outstanding executive with great leadership and interpersonal qualities who will complement our team.”

Prior to joining The Hartford in 2004, Drago spent more than 20 years at Bank of America in a series of consumer, small business and marketing executive positions. She was also a member of Bank of America’s Operating Committee.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is a $161 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 25,000 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 and Vermont, and has non-branch retail and commercial offices in about 40 states. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits and ninth ranked by assets as of September 30, 2006. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).