Trading market

Non-cumulative dollar preference shares

On 26 March 1997, 8 February 1999, 30 September 2004, 26 August 2004, 19 May 2005, 9 November 2005, 25 May 2006, 27 December 2006, 28 June 2007, 27 September 2007 and 4 October 2007 the company issued the following American Depositary Shares ("ADSs") representing non-cumulative dollar preference shares of the company, in the United States, which were outstanding at 31 December 2007:

8,000,000 Series F ("Series F ADSs") representing 8,000,000 non-cumulative dollar preference shares, Series F;

12,000,000 Series H ("Series H ADSs") representing 12,000,000 non-cumulative dollar preference shares, Series H;

34,000,000 Series L ("Series L ADSs") representing 34,000,000 non-cumulative dollar preference shares, Series L;

37,000,000 Series M ("Series M ADSs") representing 37,000,000 non-cumulative dollar preference shares, Series M;

40,000,000 Series N ("Series N ADSs") representing 40,000,000 non-cumulative dollar preference shares, Series N;

22,000,000 Series P ("Series P ADSs") representing 22,000,000 non-cumulative dollar preference shares, Series P;

27,000,000 Series Q ("Series Q ADSs") representing 27,000,000 non-cumulative dollar preference shares, Series Q;

26,000,000 Series R ("Series R ADSs") representing 26,000,000 non-cumulative dollar preference shares, Series R;

38,000,000 Series S ("Series S ADSs") representing 38,000,000 non-cumulative dollar preference shares, Series S;

64,000,000 Series T ("Series T ADSs") representing 64,000,000 non-cumulative dollar preference shares, Series T; and

15,000 Series U ("Series U ADSs") representing 15,000 non-cumulative dollar preference shares, Series U.

Each of the respective ADSs set out above represents the right to receive one corresponding preference share, and is evidenced by an American Depositary Receipt ("ADR") and is listed on the New York Stock Exchange, a subsidiary of NYSE Euronext ("NYSE").

The ADRs evidencing the ADSs above were issued pursuant to Deposit Agreements, among the company, The Bank of New York, as depository, and all holdersfrom time-to-time of ADRs issued thereunder. Currently, there is no non-United States trading market for any of the non-cumulative dollar preference shares. All of the non-cumulative dollar preference shares are held by the depository, as custodian, in bearer form.

In January 2007, the company redeemed the 8 million Series E non-cumulative preference shares of US$0.01 each, the 10 million Series G non-cumulative preference shares of US$0.01 each and the 16 million Series K non-cumulative preference shares of US$0.01 each.

At 31 December 2007, there were 100 registered shareholders of Series F ADSs, 63 registered shareholders of Series H ADSs, 25 registered shareholders of Series L ADSs, 1 registered shareholder of Series M ADSs, 47 registered shareholders of Series N ADSs, 55 registered shareholders of Series P ADSs, 17 registered shareholders of Series Q ADSs, 1 registered shareholder of Series R ADSs, 1 registered shareholder of Series S ADSs, 23 registered shareholders of Series T ADSs and 1 registered shareholder of Series U ADSs.

PROs

On 20 August 2001, the company issued US$1.2 billion of perpetual regulatory tier one securities ('PROs') in connection with a public offering in the United States. The PROs are listed on the NYSE.

ADSs representing ordinary shares

On 17 October 2007, the company listed ADSs, each representing one ordinary share, nominal value 25p each (or a right to receive one ordinary share), and evidenced by an ADR or uncertificated securities, on the NYSE. On the same day, trading commenced on a 'when issued' basis and on 18 October 2007, regular trading commenced. As of 31 December 2007, 62.9 million ADSs were outstanding. The ADSs were issued in connection with the company's bid for the outstanding share capital of ABN AMRO Holding N.V.

The ADSs described in the above paragraph were issued pursuant to a Deposit Agreement, among the company, The Bank of New York Mellon, as depositary, and all owners and holders from time to time of ADSs issued thereunder. The ordinary shares of the company are listed and traded on the London Stock Exchange. All ordinary shares are deposited with the principal London office of The Bank of New York Mellon, as custodian for the depositary.

The following table shows, for the periods indicated, the high and low sales prices for each of the outstanding ADSs representing non-cumulative dollar preference shares and PROs, as reported on the NYSE composite tape:

Figures in US$   Series F
ADSs
Series H
ADSs
Series L
ADSs
Series M
ADSs
Series N
ADSs
Series P
ADSs
Series Q
ADSs
Series R
ADSs
Series S
ADSs
Series T
ADSs
Series U
ADSs
PROs (1)
By month
January 2008 High 25.55 25.15 22.20 24.12 24.00 23.85 24.83 23.52 24.66 25.50 105.61 107.55
  Low 24.50 24.21 18.80 20.88 20.54 20.10 21.80 19.90 21.39 24.00 101.72 104.13
December 2007 High 25.54 25.10 20.66 22.44 22.12 21.99 23.69 21.50 22.75 25.22 102.81 106.64
  Low 23.60 22.70 17.90 19.68 19.50 19.25 20.71 18.96 20.26 22.61 98.34 100.49
November 2007 High 25.75 25.25 20.89 23.01 22.81 22.60 24.52 21.93 23.30 25.25 104.94 109.95
  Low 25.25 22.77 18.44 20.19 20.14 19.94 21.30 19.44 20.73 23.35 101.16 103.08
October 2007 High 25.85 25.50 21.34 23.23 23.10 22.89 24.80 22.54 24.11 25.48 107.98 109.95
  Low 25.25 24.98 20.76 22.57 22.50 22.21 24.26 21.78 23.52 25.00 103.43 105.90
September 2007 High 25.60 25.60 21.98 23.98 23.82 23.37 25.03 22.85 24.49 25.10 112.14
  Low 25.25 24.95 20.67 22.22 21.98 21.76 23.49 21.20 22.77 24.95 104.94
August 2007 High 25.90 25.52 21.91 24.54 23.87 23.49 25.24 23.25 25.20 111.88
  Low 25.34 25.00 20.30 22.90 22.93 22.45 24.20 21.76 23.22 108.28
 
By quarter
2007: Fourth quarter High 25.85 25.50 21.34 23.23 23.10 22.89 24.80 22.54 24.11 25.48 107.98 109.95
  Low 23.60 22.70 17.90 19.68 19.50 19.25 20.71 18.96 20.26 22.61 98.34 100.49
2007: Third quarter High 26.23 25.60 22.23 24.60 24.30 24.14 25.88 23.55 25.20 25.10 112.88
  Low 25.25 24.95 20.30 22.22 21.98 21.76 23.49 21.20 22.77 24.95 104.94
2007: Second quarter High 26.50 25.78 24.36 25.88 25.67 25.78 26.40 25.35 25.00 118.15
  Low 25.39 25.10 21.80 24.10 23.81 23.51 24.95 23.30 24.75 110.17
2007: First quarter High 25.76 25.85 24.75 25.99 25.75 25.83 26.91 25.50 122.07
  Low 25.26 25.21 24.02 25.50 25.35 25.25 26.08 24.79 115.81
2006: Fourth quarter High 26.73 25.95 24.62 26.08 25.96 26.07 26.76 121.54
  Low 25.29 25.17 23.80 25.23 25.21 24.91 25.97 114.47
2006: Third quarter High 26.91 25.75 24.08 25.44 25.30 25.33 26.24 117.81
  Low 25.58 25.16 21.71 24.05 23.69 23.64 25.08 106.96
2006: Second quarter High 26.07 25.49 23.39 25.03 25.04 24.70 25.55 114.90
  Low 25.45 25.01 21.15 23.58 23.32 22.76 24.67 106.06
2006: First quarter High 27.25 25.78 24.50 25.62 25.60 25.35 122.23
  Low 25.72 25.25 23.09 25.08 25.10 24.72 114.75
 
By year
2007 High 26.50 25.85 24.75 25.99 25.75 25.83 26.91 25.50 25.20 25.48 107.98 122.07
  Low 23.60 22.70 17.90 19.68 19.50 19.25 20.71 18.96 20.26 22.61 98.34 100.49
2006 High 27.25 25.95 24.62 26.08 25.96 26.07 26.76 122.23
  Low 25.29 25.01 21.15 23.58 23.32 22.76 24.67 106.06
2005 High 28.00 26.19 24.99 26.75 26.23 25.50 129.57
  Low 26.02 25.20 22.67 24.77 24.70 24.60 116.70
2004 High 28.45 25.87 24.68 26.16 125.14
  Low 25.65 24.45 23.51 25.13 110.58
2003 High 29.05 26.40 130.78
  Low 27.03 25.10 111.06
 
Note:
(1) Price quoted as a % of US$1,000 nominal.

Ordinary shares

The following table shows, for the periods indicated, the high and low sales prices for the company's ordinary shares on the London Stock Exchange, as derived from the Daily Office List of the UK Listing Authority:

Figures in £   Ordinary shares
By month
January 2008 High 4.4250
  Low 3.4275
December 2007 High 4.9000
  Low 4.2425
November 2007 High 4.9875
  Low 3.9725
October 2007 High 5.6950
  Low 5.0200
September 2007 High 5.8350
  Low 5.0850
August 2007 High 5.9900
  Low 5.4300
Figures in £   Ordinary shares
By quarter    
2007: Fourth quarter High 5.6950
  Low 3.9725
2007: Third quarter High 6.4250
  Low 5.0850
2007: Second quarter High 6.9000
  Low 6.2300
2007: First quarter High 7.1900
  Low 6.5100
2006: Fourth quarter High 6.6600
  Low 6.0800
2006: Third quarter High 6.1200
  Low 5.5600
2006: Second quarter High 6.2500
  Low 5.5900
2006: First quarter High 6.4400
  Low 5.6700
Figures in £   Ordinary shares
By year    
2007 High 7.1900
  Low 3.9725
2006 High 6.6600
  Low 5.5600
2005 High 6.1000
  Low 5.0700
2004 High 5.8700
  Low 4.8800
2003 High 5.9300
  Low 4.1200

On 26 February 2008, the closing price of shares on the London Stock Exchange was £4.135, equivalent to $8.17 per share translated at the Noon Buying Rate of $1.9747 per £1.00 on 26 February 2008.

ADSs

The following table shows, for the periods indicated, the high and low sales prices for the company's ordinary ADSs, as reported on the NYSE composite tape:

Figures in US$   ADSs
By month    
January 2008 High 8.90
  Low 7.50
December 2007 High 10.26
  Low 8.64
November 2007 High 10.58
  Low 8.43
October 2007 High 11.30
  Low 10.50
Figures in US$   ADSs
By quarter    
2007: Fourth quarter High 11.30
  Low 8.43
Figures in US$   ADSs
By year    
2007 High 11.30
  Low 8.43

On 26 February 2008, the closing price of ordinary ADSs on the New York Stock Exchange was $8.34.