THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Riggs National Corporation (Retired) (RIGS.X)

4/29/2004 Proxy Information

In December 2001, we instituted the Employee Mortgage Discount Program under which our employees and those of our subsidiaries are eligible to receive a 20 percent lower interest rate on their home mortgages than the prevailing market rate. The Corporation’s banking subsidiaries have had lending transactions in the ordinary course of their banking business with directors of Riggs Bank and Riggs Bank Europe Limited and their associates (primarily the businesses with which they are associated), and directors and executive officers of the Corporation and their associates, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons, except for, in some cases, discounted interest rate terms pursuant to the Employee Mortgage Discount Program.

In 2003, we paid, through our two venture capital investment partnerships, approximately $750,000 in management fees to venture capital investment companies that are controlled by J. Carter Beese, Jr., one of our directors. These venture capital investment companies, through their management company, then paid Riggs Bank approximately $659,957 for rent, salaries and other services we provided to those entities during 2003, pursuant to an Operating and Services Agreement.

During 2003, Allbritton Communications Company (“ACC”), a company indirectly owned by Mr. Joe L. Allbritton, a vice chairman of our Board, and of which Mr. Robert L. Allbritton is the Chairman and Chief Executive Officer and Mr. Lawrence I. Hebert is Vice Chairman, paid Riggs Bank $469,167 to lease office and parking space in an office building owned by Riggs Bank under a lease that extends through January 31, 2007. Also during 2003, ACC reimbursed Riggs Bank $230,386 for use of entertainment suites at sports stadiums.

Two of our directors, Mr. Steven B. Pfeiffer and Mr. Charles A. Camalier, III, are associated with law firms that perform legal services for us from time to time.

During fiscal year 2003, Compensation Committee member Robert L. Sloan and Sibley Hospital, an entity for which Mr. Sloan served as the Chief Executive Officer, had outstanding loans with Riggs Bank made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons. In the opinion of management, these loans did not, at the time they were entered into, involve more than the normal risk of collectability or present other unfavorable features.

3/13/2003 Proxy Information

In 2002, we paid, through our two venture capital investment partnerships, approximately $2.6 million in management fees to venture capital investment companies that are controlled by J. Carter Beese, Jr., one of our directors. These venture capital investment companies, through their management company, paid Riggs Bank approximately $1.4 million for rent, salaries and other services we provided to those entities during 2002, pursuant to an Operating and Services Agreement. For fiscal year 2003, we have reduced our obligation to fund these management fees from $2.6 million to $750,000, approximately $720,000 of which we anticipate will be paid to Riggs Bank.

During 2002, Allbritton Communications Company ("ACC"), a company indirectly owned by Mr. Joe L. Allbritton, a vice chairman of our Board, and of which Mr. Robert L. Allbritton is the Chairman and Chief Executive Officer and Mr. Lawrence I. Hebert is Vice Chairman, paid Riggs Bank $432,549 to lease office and parking space in an office building owned by Riggs Bank under a lease that extends through January 31, 2007. Also during 2002, ACC reimbursed Riggs Bank $148,928 for use of entertainment suites at sports stadiums.

Two of our directors, Mr. Steven B. Pfeiffer and Mr. Charles A. Camalier, III, are associated with law firms that perform legal services for us from time to time.

Mr. Hebert, one of our directors and the President and Chief Executive Officer of Riggs Bank, serves as a director of Allied Capital Corporation, of which Mr. Walton is currently Chairman, Chief Executive Officer and President. None of our other executive officers serves as an officer, director, or member of a compensation committee of any entity whose executive officer served on our Compensation Committee, and none of our executive officers served as a member of the compensation committee of any entity whose executive officer serves as one of our directors.

During fiscal year 2002, Mr. Sloan, Sibley Hospital (an entity for which Mr. Sloan serves as the Chief Executive Officer), and Allied Capital Corporation (an entity for which Mr. Walton serves as the Chairman, Chief Executive Officer and President) had outstanding loans with Riggs Bank made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons. In the opinion of management, these loans did not, at the time they were entered into, involve more than the normal risk of collectability or present other unfavorable features.

Mr. Robert L. Allbritton is the son of Mr. Joe L. Allbritton and Mrs. Barbara B. Allbritton.