Royal Bank of Canada announces increase to common share dividend

TORONTO, August 25, 2006 — Royal Bank of Canada (RY on TSX and NYSE) today announced an increase to its quarterly common share dividend of 4 cents per share or 11.11% to 40 cents, payable on November 24, 2006, to common shareholders of record on October 26, 2006.

The quarterly common share dividend was last increased by 4 cents per share to 36 cents in the second quarter of 2006, for shareholders of record on April 25, 2006.

The board also declared dividends on the following Non-Cumulative First Preferred Shares, payable on November 24, 2006, to shareholders of record on October 26, 2006.

* Series N, Dividend No. 34 of $0.29375 per share.
* Series O, Dividend No. 30 of $0.34375 per share.
* Series W, Dividend No. 7 of $0.30625 per share.
* Series AA, Dividend No. 3 of $0.278125 per share.
* Series AB, Dividend No. 1 of $0.408836 per share.

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Beja Rodeck

Media Relations

Royal Bank of Canada

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