Global and All-Canadian equity funds offer Canadians new options for investing in the O’Shaughnessy approach

TORONTO , January 22, 2007 — RBC Asset Management Inc. today launched the RBC O’Shaughnessy Global Equity Fund and the RBC O’Shaughnessy All-Canadian Equity Fund. Both funds will appeal to investors who are looking for a disciplined, clearly defined and time-tested way to invest around the world as well as here at home.

“We are very pleased to expand our line-up of RBC O’Shaughnessy Funds,” said Brenda Vince, president, RBC Asset Management. “This will be the tenth year of our partnership with Jim O’Shaughnessy and his consistent quantitative approach continues to deliver compelling results. These two latest RBC O’Shaughnessy offerings provide Canadian investors with a new way to gain exposure to foreign markets or to a core Canadian holding.”

The RBC O’Shaughnessy Global Equity Fund is a “go anywhere” fund, with both growth and value holdings in North America, Europe and Asia, as well as emerging markets.

“Investing globally is an important way to create a diversified portfolio, and we are strongly encouraging Canadians to review their investments and consider allocating a greater portion of their assets outside of Canada,” said Vince.

The RBC O’Shaughnessy All-Canadian Equity Fund offers investors a “100 per cent Canadian” portfolio incorporating both growth and value securities. Like all RBC O’Shaughnessy Funds, it employs O’Shaughnessy’s disciplined, transparent methodology for security selection.

Considered a leading expert and pioneer in quantitative stock analysis, Jim O’Shaughnessy is senior managing director at Bear Stearns Asset Management Inc. based in New York. He is also a highly acclaimed author of three best-selling books, including “What Works on Wall Street,” which outlines his research and strategies for investing.

The new funds will be added to the RBC O’Shaughnessy Fund series, joining the RBC O’Shaughnessy Canadian Equity Fund (closed to new investors), RBC O’Shaughnessy International Equity Fund, RBC O’Shaughnessy U.S. Value Fund, and RBC O’Shaughnessy U.S. Growth Fund (closed to new investors).

O’Shaughnessy’s investment approach is available to investors in Canada exclusively through investment products offered by RBC Asset Management. For more information about the RBC O’Shaughnessy family of funds, please visit www.rbcfunds.com.

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 $75.8 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 .

Media Contact:

Kathy Bevan (416) 974-8810