TORONTO, September 2, 2005 - RBC Asset Management Inc. had $486 million in long-term net sales and money market net redemptions of $65 million for a total of $421 million in overall net sales for the month of August. RBC Asset Management's net sales results for the twelve months ended August 31, 2005 were $4.3 billion, including $5.5 billion in long-term net sales and $1.2 billion in money market net redemptions.

"We've had our best summer ever," said Brenda Vince, president, RBC Asset Management Inc. "For June through August 2005, long-term net sales were over $1.4 billion, three times higher than the same period last year."

Top selling RBC Funds for August include the RBC Monthly Income Fund with $208 million in net sales, the RBC Dividend Fund with $79 million in net sales and the RBC Tax Managed Return Fund with $41 million in net sales. This is also the first month where each of the three RBC Select Portfolios have crossed the $1 billion in assets mark, and collectively, our RBC Select Portfolios and RBC Select Choices Portfolios represent over $5.7 billion in assets.

About RBC Asset Management
RBC Asset Management Inc. is an indirect, wholly owned subsidiary of Royal Bank of Canada. RBC Asset Management Inc. provides a broad range of investment services to investors through mutual funds, pooled funds and separately managed portfolios. With over $58 billion in assets under management and offices in major financial centres around the world, RBC Asset Management Inc. is one of Canada's largest money managers. Visit our website at www.rbcfunds.com.

About RBC Financial Group
Royal Bank of Canada (RY: TSX, NYSE) uses the initials RBC as a prefix for its businesses and operating subsidiaries, which operate under the master brand name of RBC Financial Group. Royal Bank of Canada is Canada's largest bank as measured by assets, and is one of North America's leading diversified financial services companies. It provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. The company employs approximately 60,000 people who serve more than 14 million personal, business and public sector clients through offices in North America and some 30 countries around the world. For more information, please visit www.rbc.com.

Media contact:
Beja Rodeck, (416) 974-5506