RBC Asset Management Makes The Cost Of Investing In Its Portfolio Products More Predictable

TORONTO, October 4, 2007 — RBC Asset Management Inc. (RBC AM) today announced that it will change the way it calculates the Management Expense Ratios (MERs) for the RBC Select Portfolios, the RBC Select Choices Portfolios, the RBC Cash Flow Portfolios and the RBC Target Education Funds (collectively the “portfolios”), making the costs of investing more predictable for investors.

Beginning January 1, 2008, RBC AM will fix the MER for each of the portfolios. By fixing the MER for each portfolio, changes in the mix of underlying funds held by the portfolio will no longer impact the MER. The MER for each series of units of the portfolios will be more predictable going forward. The fixed MER will include all fees and expenses (including the fixed administration fee) paid by the portfolio.

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 and has over $83 billion in assets under management.

The RBC Asset Management 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 assets under management.

For further information, please contact:
Rina Cortese, RBC Wealth Management, (416) 974-6970
Jackie Braden, RBC Media Relations, (416) 974-2124