TORONTO, May 29, 2007 - RBC announced today that its online investing business, RBC Direct Investing, will offer certain RBC Funds with a new lower-priced option for do-it-yourself investors.  A preliminary prospectus filed by RBC Asset Management yesterday indicated that over forty RBC Funds will be available exclusively at RBC Direct Investing in a new Series D.  Series D units will be for investors who want to include managed money as part of their portfolios but do the investment research and decision-making themselves.  The management fees of Series D units will range from 0.60 per cent to 1.25 per cent and investors must purchase a minimum of $10,000 in each fund. Series D represents the first mutual fund fee structure in Canada from a major fund company that is tailor-made for the self-directed investor.

“We’re excited to be at the forefront of this new move in self-directed investing,” said Doug Coulter, president and CEO, RBC Direct Investing.  “This pricing option should make RBC Funds, already some of the industry’s most competitive mutual funds, even more attractive for investors who choose to manage their own portfolios.”

“As a leading provider of mutual funds in Canada, we are pleased to be in a position where we can offer a pricing option that is better suited to the self-directed environment,” said Brenda Vince, president, RBC Asset Management Inc.  “We strive to continuously improve the value, choice and transparency that we deliver to our investors, regardless of how they choose to invest.”

Series D units will be available on or about July 3, 2007.  For a list of RBC Funds that will offer Series D units, along with the corresponding management fees, please visit www.rbcdirectinvesting.com/seriesd.

A preliminary simplified prospectus relating to Series D units of the RBC Funds has been filed with Canadian securities commissions or similar authorities.  Purchasing Series D units of the RBC Funds cannot commence until the relevant securities commissions or similar authorities issue receipts for the simplified prospectus.

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 offices in major financial centres around the world, RBC Asset Management Inc. is one of Canada's largest money managers.

RBC Asset Management's mutual fund family was awarded the "Best Overall Fund Group" in Canada for 2007 by Lipper Inc. The prestigious award is part of a global program of events held by Lipper in 21 countries to highlight funds and fund families that excel in delivering consistently strong risk-adjusted performance relative to their peers. Visit our website at www.rbcam.com.

RBC Asset Management is part of RBC Wealth management which directly serves affluent and high net worth clients in Canada, the United States, Latin America, Europe and Asia, provides asset management and trust services through RBC partners and third-party distributors and has over $500 billion of assets under administration, 3,500 financial advisors and $150 billion of asset under management.

About RBC Direct Investing
RBC Direct Investing, one of Canada's leading discount brokers, is a wholly owned subsidiary of Royal Bank of Canada.   RBC Direct Investing provides a broad range of investment products, tools and resources for investors who prefer to manage all or a portion of their investment portfolio.  Clients have access to their investments 24/7 online or by phone and can choose from a broad range of investment products including stocks, bonds, GICs, T-bills and over 2,500 mutual funds. Visit our website at www.rbcdirectinvesting.com.

Media contacts: 
Rina Cortese (416) 974-6970
Jackie Braden (416) 974-2124