Better pricing for larger U.S. dollar balances provides clients with a timely choice

TORONTO, November 1, 2007 — RBC Asset Management Inc. (“RBC AM”) today announced the launch of the RBC Premium $U.S. Money Market Fund, adding to its existing line-up of money market funds. The fund is designed for investors with larger U.S. dollar balances who are looking for liquidity at a lower price than traditional U.S. dollar money market funds and better returns than what is currently available on U.S. dollar savings accounts.

“With the Canadian dollar at a near all-time high, the RBC Premium $U.S. Money Market Fund is both a timely and better-priced solution for larger U.S. dollar balances,” said Brenda Vince, president of RBC AM. “Investors who need easy access to U.S. dollars for vacations, retirement or major purchases, also want the peace of mind of knowing that their investment is well-managed. The RBC AM team currently oversees more than $10 billion in money market assets and provides investors with experience and a solid track record.”

The RBC Premium $U.S. Money Market Fund will be managed for both return and liquidity, in the same way as the existing RBC $U.S. Money Market Fund, but with a lower management fee of 0.35 per cent (versus 0.90 per cent) and a higher minimum investment amount of US$100,000 (versus US$500). The fund will distribute income monthly, be available to advisor-channel clients in both no load and fee-based account versions effective November 1, 2007, and will be launched in the RBC retail network in January 2008.

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.