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News Releases


Royal Bank of Canada to redeem subordinated debentures

TORONTO, December 11, 2008 — Royal Bank of Canada (RY on TSX and NYSE) today announced its intention to redeem all outstanding 3.96% subordinated debentures due January 27, 2014 (the "3.96% debentures") for 100 per cent of their principal amount plus accrued interest to the redemption date. The redemption will occur on January 27, 2009. There is currently $500,000,000 principal amount of 3.96% debentures outstanding.

The redemption of the debentures will be financed out of the general corporate funds of Royal Bank of Canada.

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For further information, please contact:

Investor contact:
Josie Merenda,
Investor Relations, Toronto,
(416) 974-2044

Media contact:
Stephanie Lu,
Media Relations, Toronto,
(416) 974-5506 or toll-free 1-888-880-2173

Or visit the site: http://www.rbc.com/investorrelations










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12/11/2008 13:01:27