TORONTO, January 14, 2008 — RBC Asset Management Inc. (“RBC AM”) today announced the launch of the RBC O’Shaughnessy U.S. Growth Fund II, adding to its top-performing lineup of RBC Funds. The fund is designed for long-term investors looking for exposure to primarily small and mid-cap U.S. securities with above-average growth potential. All U.S. currency exposure in the fund is hedged.

“O’Shaughnessy’s consistent and time-tested quantitative approach to security selection has led the RBC O’Shaughnessy Funds to deliver strong performance over the past ten years, winning the respect of clients and advisors alike,” said Brenda Vince, president of RBC AM. “Canadians now have $6 billion invested in the six RBC O’Shaughnessy Funds, the first three of which were introduced in 1997.”

“We’re building exceptional track records in the marathon event of long-term investing,” said Jim O’Shaughnessy. “It’s a great partnership with RBC AM, and we’re excited that the RBC O’Shaughnessy US Growth Fund II has been added to the line-up.”

The new fund is an alternative to the RBC O’Shaughnessy U.S. Growth Fund, which was launched November 1997 and was closed to new investors on June 30, 2006 due to capacity constraints. Like all RBC O’Shaughnessy Funds, the new fund follows a disciplined and transparent methodology for selecting securities with the best potential.

Starting January 14, 2008, the RBC O’Shaughnessy U.S. Growth Fund II will be available in a full range of series options for sale through full service and discount brokers, including RBC Dominion Securities and RBC Direct Investing. Beginning February 19, 2008, the fund will also be available through RBC branches, RBC Invest by Phone and RBC Online Banking.

 

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 $87 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.

Please read the prospectus before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. RBC Funds are offered by RBC Asset Management Inc. and distributed through authorized dealers.