TORONTO, June 29, 2007 — RBC Asset Management Inc. (RBC AM) today announced the following changes to RBC Select Portfolios, RBC Select Choices Portfolios, RBC Cash Flow Portfolios, RBC Target Education Funds and RBC Global Titans Fund. These changes will be effective July 1, 2007, following the renewal of the RBC Funds 2007 Simplified Prospectus.

RBC Select Portfolios, RBC Select Choices Portfolios, RBC Cash Flow Portfolios, and RBC Target Education Funds (the “Portfolios”)

Effective July 1, 2007, portfolio managers of the Portfolios will be permitted to invest in any fund in the RBC Funds family. This change provides greater flexibility for RBC Asset Management to respond to changing market conditions on a more timely basis, within the established investment objective and strategies of the Portfolios. Each Portfolio will invest in eight to twelve individual funds. Portfolio managers of the RBC Select Choices Portfolios will also be able to invest in any third-party managed mutual fund and will continue use the screening process employed by the RBC Mutual Fund Research team.

The simplified prospectus of each of the Portfolios and Target Funds will disclose the target weights of each asset class. Current holding information is available on the RBC AM website at www.rbcam.com and will continue to be updated monthly.

RBC Global Titans Fund changes name to RBC Global Dividend Growth Fund

Effective July 1, 2007, the RBC Global Titans Fund will change its name to the RBC Global Dividend Growth Fund. The new name more clearly reflects the Fund’s mandate to invest in strong global companies with the ability to grow their dividends over time. There is no change in the investment objectives or investment process of the Fund.

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.

For further information, please contact:
Rina Cortese, RBC Wealth Management, (416) 974-6970, rina.cortese@rbc.com
Jackie Braden, RBC, (416) 974-2124, jackie.braden@rbc.com