R Split III Corp. Declares Quarterly Dividends and retains Financial Advisor

TORONTO, Nov. 3, 2011 /CNW/ - The Board of Directors of R Split III Corp. (the "Company") has today declared a dividend of $0.3287 per Preferred Share and $0.0700 per Capital Share, payable on November 30, 2011 to holders of record at the close of business on November 23, 2011.

Holders of Preferred Shares are entitled to receive quarterly fixed cumulative dividends equal to $0.3287 per Preferred Share. The Company's Capital Share dividend policy is to pay a quarterly dividend on the Capital Shares equal to the excess of the dividends received on the Royal Bank Shares minus the Preferred Share dividends and all administrative and operating expenses provided the net asset value per Unit at the time of declaration, after giving effect to the dividend, would be greater than the original issue price of the Preferred Shares.

In addition, the Company announced today that it has retained Scotia Capital to advise the Company on a possible extension and reorganization of the Company. There is no guarantee that after such review an extension will be proposed or if proposed, will be approved by shareholders.

R Split III Corp. is a mutual fund corporation created to hold a portfolio of common shares of the Royal Bank of Canada. Capital Shares and Preferred Shares of R Split III Corp. are listed for trading on The Toronto Stock Exchange under the symbols RBS and RBS.PR.A respectively.


SOURCE R Split III Corp.

For further information:

Investor Relations
R Split III Corp.
(416) 945-7386
E-mail: mc_rsplit@scotiacapital.com
Web site: www.scotiamanagedcompanies.com

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R Split III Corp.

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