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RBC announces 2008 Blue Water Project Community Action Grant pool of $200,000

Grants will support watershed protection projects at local level

TORONTO, June 2, 2008 — RBC today announced the third and final component of its Blue Water Project grants pool for 2008.

Community Action Grants ranging from $1,000 to $5,000 each, up to a total of $200,000 for 2008, are available to support local and community projects in Canada, the United States and the Caribbean that are dedicated to watershed protection. Grant proposals will be accepted year long, with applications available online at www.rbc.com/bluewater.

The overall Blue Water Project grant strategy and guidelines were developed in collaboration with an advisory panel of North American water experts. The panel determined that Community Action Grants should focus on watershed protection because local water resources are best protected by effective watershed management. Problems that occur in one part of a watershed-like pollution, over-consumption, degraded habitat or mismanagement- affect people, agriculture, industry and natural habitats elsewhere.

"When it comes to water, problems often are local, and we're all upstream or downstream for someone or something else," said Rob de Loë, professor, Canada Research Chair in Water Management, University of Guelph, and chair of the RBC Blue Water Project Advisory Panel. "Industry, government, business and individuals can all play a part in watershed protection by preventing pollution, reducing consumption, using water more efficiently in agriculture and manufacturing, and protecting biodiversity in freshwater ecosystems."

"The better our watersheds are managed, the more likely we are to have a sustainable and safe water supply," said Gordon M. Nixon, president and CEO, RBC. "We are looking forward to helping community organizations contribute to a culture of water stewardship, and we hope that the programs funded through our grants will make a real difference in both action and understanding when it comes to valuing watersheds at the local level."

The RBC Blue Water Project is a wide-ranging, multi-year program to help foster a culture of water stewardship in Canada and abroad, so that people have clean fresh water today and tomorrow. The first phase of the RBC Blue Water Project, announced in late 2007, is a 10-year, $50 million grant program, comprising three streams: Visionary, Leadership and Community Action Grants. The first Visionary Grant was a $10 million commitment to the ONE DROP Foundation, established by Cirque du Soleil founder, Guy Laliberté.

Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name of RBC. It is Canada's largest bank as measured by assets and market capitalization and one of North America's leading diversified financial services companies. RBC employs approximately 70,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients throughout offices in Canada, the U.S. and 36 other countries. In 2007, the company released the RBC Environmental Blueprint, outlining its environmental priorities and objectives. In 2007, RBC was named Canada's top corporate citizen, and in 2008, was named one of top 100 sustainable companies in the world.

For more information on the RBC Blue Water Project, as well as guidelines and applications for Community Action Grants, visit www.rbc.com/bluewater.

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Media contact:
Jackie Braden, (416) 974-2124


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06/02/2008 08:40:24