TORONTO, June 27, 2006 — RBC Asset Management Inc. announced today the following changes to the RBC Select Portfolios, the RBC Select Choices Portfolios, the RBC Cash Flow Portfolios, and the RBC Target Education Funds. These changes will be effective August 1, 2006 following the renewal of the RBC Funds 2006 Simplified Prospectus.

RBC Select Portfolios
The asset class target weightings will change for each RBC Select Portfolio as follows:

	RBC Select Conservative Portfolio		RBC Select Balanced Portfolio		RBC Select Growth Portfolio
Asset Class	Target Weighting		Target Weighting		Target Weighting
	Current	New	Current	New	Current	New
Fixed Income	60%	65%	40%	45%	20%	25%
Canadian Equities	16%	15%	24%	20%	32%	27%
U.S. Equities	16%	10%	24%	20%	32%	27%
International Equities	8%	10%	12%	15%	16%	21%

In addition to the change in the target weightings, four funds will be added to the list of eligible funds for each portfolio. These include:

• RBC Canadian Diversified Income Trust Fund
• RBC Blue Chip Canadian Equity Fund*
• RBC U.S. Equity Currency Neutral Fund
• RBC U.S. Mid-Cap Equity Currency Neutral Fund

*to be re-named the RBC North American Dividend Fund effective July 4, 2006

A complete list of eligible funds will be available in the 2006 RBC Funds Simplified Prospectus (July 4, 2006).

RBC Select Choices Portfolios
The asset class target weightings will change for each RBC Select Choices Portfolio as follows:

	RBC Select Choices Conservative Portfolio		RBC Select Choices Balanced Portfolio		RBC Select Choices Growth Portfolio		RBC Select Choices Aggressive Growth Portfolio
Asset Class	Target Weighting		Target Weighting		Target Weighting		Target Weighting
	Current	New	Current	New	Current	New	Current	New
Fixed Income	60%	65%	40%	45%	20%	25%	0%	0%
Canadian Equities	16%	15%	24%	20%	32%	27%	40%	35%
U.S. Equities	16%	10%	24%	20%	32%	27%	40%	35%
International Equities	8%	10%	12%	15%	16%	21%	20%	30%

In addition to the change in the target weightings, four funds will be added to the list of eligible funds for each portfolio. These include:

• RBC U.S. Equity Currency Neutral Fund
• RBC U.S. Mid-Cap Equity Fund
• RBC U.S. U.S. Mid-Cap Equity Currency Neutral Fund
• RBC O’Shaughnessy International Equity Fund

A complete list of eligible funds will be available in the 2006 RBC Funds Simplified Prospectus (July 4, 2006).

The change to the asset class target weightings for the RBC Select Portfolios and the RBC Select Choices Portfolios will more closely align them with RBC Asset Management’s overall long term outlook for the global economy and capital markets. The addition of the specified funds will enable the portfolio manager to achieve greater diversification for investors. As well, we have increased the range for target asset mix weightings to ±15 per cent for the fixed income asset class (previously it was ±10 per cent).

RBC Cash Flow Portfolios
The RBC Canadian Diversified Income Trust Fund will be added to the list of underlying funds in which the RBC Cash Flow Portfolio and RBC Enhanced Cash Flow Portfolio may invest. The addition of the Fund will enable the portfolio manager to access a broader base of investment opportunities and achieve greater diversification.

RBC Target Education Funds
The RBC U.S. Equity Currency Neutral Fund and the RBC U.S. Mid-Cap Equity Currency Neutral Fund will be added to the list of underlying funds for the RBC Target 2010 Education Fund, the RBC Target 2015 Education Fund, and the RBC Target 2020 Education Fund. The addition of these funds will allow the portfolio manager to achieve greater diversification and access a broader range of investment opportunities.

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 $66 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.

For more information, please contact:
Kathy Bevan, Media Relations, (416) 974-8810