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RBC Asset Management appoints sub-advisor for RBC Private U.S. Small Cap Equity Pool

TORONTO, April 7, 2008 — RBC Asset Management Inc. announced today that effective April 14, 2008, Kennedy Capital Management (KCM) has been appointed as sub-advisor for the RBC Private U.S. Small Cap Equity Pool.

KCM was founded in 1980 with a focus on investing in small to mid cap securities on behalf of high net worth individuals. KCM manages approximately US$4 billion in assets across several small cap and mid cap equity strategies.

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 $92 billion in assets under management.

For the second consecutive year, RBC Asset Management Inc. has been named "Best Overall Fund Group" in Canada by Lipper Inc. The coveted 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. In 2008, RBC Asset Management also received four other Lipper awards over various time periods in the Global Fixed Income and U.S. Small/Mid Caps equity categories for the RBC Global Bond Fund (one-year), RBC U.S. Mid-Cap Equity Fund (three-year) and RBC O'Shaughnessy U.S. Growth Fund (five- and ten-year). In addition to the five Lipper Awards, RBC Asset Management was also recognized at the 2007 Canadian Investment Awards, where the RBC Global Resources Fund was named the top natural resource equity fund in Canada. For further information regarding RBC Asset Management, visit 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, and provides asset management and trust products and services directly and through RBC partners and third-party distributors. RBC Wealth Management has nearly $500 billion of assets under administration, more than $160 billion assets under management, and more than 3,600 financial consultants, advisors, private bankers and trust officers.

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For further information, please contact:
Beja Rodeck, RBC, Media Relations, (416) 974-5506


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04/07/2008 10:12:15