TORONTO, September 16, 2005 - RBC Asset Management Inc. today announced changes in its line-up of funds.

RBC O'Shaughnessy Canadian Equity Fund
Effective September 30, 2005, RBC Asset Management Inc. will amend the implementation of the investment strategy of the RBC O'Shaughnessy Canadian Equity Fund. This implementation change will in no way impact the investment criteria used for stock selection.

This change will result in the assets of the fund being managed in four segments, instead of two. Each segment will have its own anniversary date: March 31, June 30, September 30 and December 31. One quarter of the portfolio will be re-balanced at each anniversary date, investing in stocks based on information available on or about its anniversary date. Each segment will then be maintained and re-balanced annually.

RBC Select Choices Portfolios
Effective October 3, 2005, RBC Asset Management will add the TD Short Term Bond Fund and the TD Canadian Bond Fund to its RBC Select Choices Portfolios program.

RBC Asset Management is committed to providing investors with a wide range of excellent investment solutions. RBC Select Choices Portfolios offer investors strong funds from Canada's leading fund companies, including RBC Asset Management, in order to provide portfolio diversification by investment manager and mutual fund company.

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:
Judi Levita, (416) 974-8810