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RBC and Hudson's Bay Company Give Canada's Athletes a Boost to the Podium

Canadian Olympic Committee renews partnerships beyond London 2012

Live Stream: Watch the announcement at 10 a.m. ET on www.olympic.ca

TORONTO, October 28, 2011 — The Canadian Olympic Committee (COC) today announced that RBC and Hudson's Bay Company are the first Premier National Partners to renew their sponsorship commitment to Canada's Olympic Team beyond the London 2012 Olympic Games.

Marcel Aubut, COC President and his executive team were joined by Jim Flaherty, Canadian Minister of Finance, Gordon M. Nixon, President and CEO of RBC, Bonnie Brooks, President and CEO of The Bay, Hudson's Bay Company, as well as Jeff Bean, three-time Olympic freestyle skier, Rosannagh MacLennan, 2008 Olympian and Pan American gold medallist in trampoline, and Jayna Hefford, triple Olympic gold medallist in ice hockey. Brian Williams, Host, Olympic Prime Time on CTV, acted as emcee.

"We are thrilled to renew our partnerships with RBC and Hudson's Bay Company. Their expanded commitment to Canadian athletes will help them succeed on the world stage," said COC President Marcel Aubut. "This is the first in a series of announcements. These two fantastic partners are dedicated to supporting the Olympic movement in Canada. Their leadership will help give our athletes the tools they need to reach the top of the podium."

Supporting Past, Present & Future Champions

RBC's long-standing partnership with the COC started 64 years ago, when Sidney Dawes, a founder of the Canadian Olympic Committee, phoned the President of the Royal Bank of Canada, Sydney Dobson asking for help getting the Canadian Olympic Team to the 1948 Olympic Winter Games in Switzerland. Since the COC-RBC partnership was formed, RBC has shown leadership in sport from the pinnacle of the Olympic stage all the way through grassroots initiatives that help give kids access to sport.

This expanded partnership has been strengthened to include new program elements to support Canadian athletes. The deal is a significant investment in a non-home-Games term and involves more programming to support athlete funding, philanthropy and sponsorship to a National Sport Federation (NSF).

"RBC believes that investing in our athletes is an investment in Canada, and we are proud to renew this partnership and help make a positive difference in amateur sport," said Gordon M. Nixon, President and CEO, RBC. "Our support for Canada's Olympic team is a reflection of our commitment to excellence, teamwork and performance - values that we share with our athletes and the COC. In the next phase of our partnership, we will continue to build our athlete development program, connecting our Olympic heroes and hopefuls with Canadians across the country to share their passion and excitement for sport."

Proudly Outfitting Canada's Athletes

Hudson's Bay Company's eight-year commitment as the Canadian Olympic Team's official outfitter, spans from 2013 to 2020, covering all Olympic, Olympic Winter, Pan American and Youth Olympic Games. The Hudson's Bay Company's new investment is larger and much more diverse than the previous non-home-Games deal, comprising cash, merchandise, marketing value-in-kind and philanthropic programs such as the highly successful red mittens campaign.

Hudson's Bay Company first outfitted Canadian athletes at the 1936 Olympic Winter Games in Garmisch-Partenkirchen as well as Squaw Valley in 1960, Innsbruck in 1964 and Grenoble in 1968. The Hudson's Bay Company became a Premier National Partner of the Vancouver 2010 Olympic Winter Games and the Canadian Olympic Team in 2005, providing Team Canada's uniforms for the Torino, Beijing, Vancouver and London Olympic Games. During the 2010 Winter Games, Hudson's Bay Company operated the most successful Olympic Superstore and retail program in Winter Olympic history.

"With the Hudson's Bay Company's long history of outfitting Canada's Olympic athletes, we are thrilled to announce this new and exciting chapter in our partnership," said Bonnie Brooks, President and CEO of The Bay, Hudson's Bay Company. "Our rich Canadian heritage makes us the ideal partner for the COC, which is synonymous with national pride and athletics. Now consumers and fans can look forward to being able to buy their favourite Team Canada apparel for years to come."

About the Canadian Olympic Committee
The Canadian Olympic Committee is a national, private, not-for-profit organization committed to sport excellence. It is responsible for all aspects of Canada's involvement in the Olympic movement, including Canada's participation in the Olympic, Youth Olympic and Pan American Games and a wide variety of programs that promote the Olympic movement in Canada through cultural and educational means. For news and information, visit the COC website at www.olympic.ca and find the team on both Facebook (Canadian Olympic Team) and Twitter (@CDNOlympicTeam).

About RBC
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada's largest bank as measured by assets and market capitalization, and among the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 74,000 full- and part-time employees who serve close to 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 55 other countries. For more information, please visit www.rbc.com.

About Hudson's Bay Company
Hudson's Bay Company, the Canadian retail entity of Hudson's Bay Trading Company (HBTC), is Canada's largest diversified general merchandise retailer. Founded in 1670, The Hudson's Bay Company operates the Bay, a major department store, Zellers, a mass merchandise format, Home Outfitters, a kitchen, bed and bath specialty store, and value-priced Fields stores. With more than 600 retail outlets and over 60,000 associates in Canada, Hudson's Bay Company banners provide Canadians with stylish, quality merchandise at great value and with a dedicated focus on exceeding customer expectations.

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For further information contact:

Dimitri Soudas, Executive Director, Communications, Canadian Olympic Committee
Tel.: (416) 324-4136, Email: dsoudas@olympic.ca

Jackie Braden, RBC Brand Communications
Tel.: (416) 974-1724, Email: jackie.braden@rbc.com

Geri McCuish, The Bay, Public Relations
Tel.: (416) 861-6768, Email: geri.mccuish@hbc.com