RBC Asset Management caps the RBC Private Canadian Growth and Income Pool to new investors

TORONTO, August 18, 2006 — RBC Asset Management Inc. announced today that it is closing the RBC Private Canadian Growth and Income Pool to new purchases, effective September 1, 2006. The Pool is sub-advised by Greystone Managed Investments Inc.

This change will not affect existing investments in the Pool. Purchases through automatically reinvested distributions will continue unless unitholders instruct their dealer otherwise.

The investment strategy applied to the Pool has been very successful, resulting in rapid growth in assets over the past three years. Closing the Pool to new investments provides the best opportunity for continued success for current investors.

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 over $67 billion in assets under management and offices in major financial centres around the world, RBC Asset Management Inc. is one of Canada’s largest money managers. Visit our website at www.rbcfunds.com.

Contact Information

Kathy Bevan

Media Relations

RBC Asset Management Inc.

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