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This was the Royal Bank of Scotland's first commemorative banknote, and marked the European summit meeting, held in Edinburgh on 8 December 1992.

Its design was similar to the normal Ilay series notes which were in circulation at that time, but special features included:

  • an engraving of the Palace of Holyroodhouse, where the meeting was held
  • the date of the meeting
  • a litho-printed colour version of the European Union flag
  • serial numbers with the prefix EC