RBC announces final results of elections by Alabama National BanCorporation stockholders regarding merger consideration



    TORONTO, Feb. 25 /CNW/ - Royal Bank of Canada (TSX and NYSE:   RY) today
announced the final results of elections made by stockholders of
Birmingham-based Alabama National BanCorporation (ANB) regarding the form of
merger consideration they will receive in connection with the merger of ANB
with and into RBC Centura Banks, Inc., a wholly owned subsidiary of RBC. The
merger closed on February 22, 2008. The election period for ANB stockholders
to choose the form of merger consideration expired at 5 p.m., Birmingham,
Alabama time on February 14, 2008.
    Of the 20,424,370 shares of ANB common stock outstanding as of the close
of trading on February 22, 2008, approximately:

    
    -  12,192,551 shares, or 59.7%, elected to receive cash;
    -  6,254,896 shares, or 30.6%, elected to receive RBC common shares; and
    -  1,976,923 shares, or 9.7%, did not make a valid election.
    

    Based on the foregoing election results, the application of the proration
procedures in the merger agreement and the volume-weighted average market
price of RBC common shares on the New York Stock Exchange over the
five-trading-day period ending on the last full trading day immediately before
February 22, 2008 ($49.9067):

    
    -  a stockholder owning 100 shares of ANB common stock who made a valid
       election to receive RBC common shares would receive approximately 160
       RBC common shares as consideration in the merger;
    -  a stockholder owning 100 shares of ANB common stock who did not make
       a valid election would receive approximately 160 RBC common shares as
       consideration in the merger; and
    -  a stockholder owning 100 ANB common shares who made a valid election
       to receive cash would, as a result of proration, receive a combination
       of approximately $6,700 in cash and approximately 26 RBC common shares
       as consideration in the merger.
    

    Under the merger agreement, fractional RBC common shares will not be
issued. Instead, ANB stockholders will receive cash based on $49.9067 per RBC
common share, which is the volume-weighted average market price of RBC common
shares on the New York Stock Exchange over the five-trading-day period ending
on the last full trading day immediately before February 22, 2008.
    The value of RBC common shares issued in the merger will, of course, vary
over time.

    About RBC Centura

    RBC Centura Banks, Inc., headquartered in Raleigh, N.C., offers a wide
range of financial services and advice, including a complete line of banking,
and mortgage services to individuals, businesses and public institutions
throughout the Southeast. RBC Centura's multi-faceted customer access network
includes more than 430 full-service banking centers, an extensive ATM network,
and telephone and Internet banking. In addition, RBC Centura offers builder
finance products through its RBC Builder Finance division. According to SNL
Financial, RBC Centura is the 45th largest U.S. bank based on assets as of
August 2007. RBC Centura Banks Inc. is a wholly-owned subsidiary of Royal Bank
of Canada (RBC) (RY on the TSX and NYSE), Canada's largest bank as measured by
assets and market capitalization and one of the world's financial, social and
environmental corporate leaders for the past eight years as on the Dow Jones
Sustainability World Index. Additional information about RBC Centura may be
found at www.rbccentura.com.

    About RBC

    Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate
under the master brand name of RBC. RBC is Canada's largest bank as measured
by assets and market capitalization and one of North America's leading
diversified financial services companies. RBC provides personal and commercial
banking, wealth management services, insurance, corporate and investment
banking and transaction processing services on a global basis. RBC's corporate
support team enables business growth with expert professional advice and
state-of-the art processes and technology. RBC employs approximately 70,000
full- and part-time employees who serve more than 15 million personal,
business, public sector and institutional clients through offices in Canada,
the U.S. and 36 other countries. For more information, please visit
www.rbc.com.





For further information:

For further information: Media Contacts: Kristen Doherty, RBC Centura,
Telephone: (919) 788-6076, Email: kristen.doherty@rbc.com; Beja Rodeck, Royal
Bank of Canada, Telephone: (416) 974-5506, Email: beja.rodeck@rbc.com;
Investor Relations Contact: Royal Bank of Canada, Bill Anderson, RBC Investor
Relations, Telephone: (416) 955-7804, Email: william.anderson@rbc.com


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