TORONTO, November 16, 2009 — RBC Asset Management Inc. announced that effective today RBC O’Shaughnessy Canadian Equity Fund and RBC O’Shaughnessy U.S. Growth Fund will re-open to new purchases.

Re-opening the Funds will allow existing investors to add to their holdings and enable new investors to purchase the Funds for the first time. Based on the Funds’ current assets under management, there is sufficient capacity to re-open them to investors.

RBC O’Shaughnessy Canadian Equity Fund has been closed since January 19, 2007. RBC O’Shaughnessy U.S. Growth Fund has been closed since June 30, 2006.

About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) comprises RBC Asset Management Inc. (RBC AM), Phillips, Hager & North Investment Management Ltd. (PH&N) and Voyageur Asset Management Inc. Combined, RBC GAM's component companies manage approximately $200 billion in assets in Canada and the United States, including over $100 billion in IFIC-reported mutual fund assets in Canada. RBC AM won the Lipper Awards for "Best Bond Fund Family" in 2009 and "Best Overall Fund Group" in 2007 and 2008; PH&N won for "Best Bond Fund Family" in 2007 and 2008. Website: www.rbcgam.com.

RBC GAM 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 with a full suite of investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients through its RBC Global Asset Management division, and has more than $490 billion of assets under administration, more than $240 billion of assets under management and more than 4,500 financial consultants, advisors, private bankers and trust officers.