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News Releases


Royal Bank of Canada announces increase to preferred share issue

TORONTO, January 22, 2009 — Royal Bank of Canada (RY on TSX and NYSE) today announced that as a result of strong investor demand for its domestic public offering of Non-Cumulative, 5 year rate reset Preferred Shares Series AR (the "Preferred Shares Series AR"), the bank has increased the Underwriters option to 4 million Preferred Shares Series AR at a price of $25 per share.

We routinely undertake funding transactions to maintain strong capital ratios and a cost effective capital structure. Net proceeds from this transaction will be used for general business purposes.

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For further information, please contact:

Media Contact:
Stephanie Lu, Media Relations, (416) 974-5506

Investor Contact:
James Colburn, Investor Relations, (416) 955-7808

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


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01/22/2009 12:16:25