RBC Statement Re: ACE Aviation Holdings Inc.



    TORONTO, June 19 /CNW/ - Royal Bank of Canada ("RBC"), announced today
that it has acquired 100,000 Class B Voting Shares (the "Shares") of ACE
Aviation Holdings Inc. ("ACE Aviation") on June 18, 2008. Immediately
following this acquisition, RBC has beneficial ownership of, or control or
direction over, 1,240,424 Shares, representing 7.37% per cent of the Shares
outstanding. Since the commencement of an issuer bid by ACE Aviation in
respect of the Shares on May 9, 2008 (the "Issuer Bid"), RBC and all persons
acting jointly or in concert with RBC have beneficially acquired, or have
acquired control or direction over, 1,169,402 Shares.
    The acquisition on June 18, 2008 was completed on the Toronto Stock
Exchange in order to take a long position in the Shares at current market
prices. The acquisition was not made for the purpose of, and will not have the
effect of, influencing or changing the control of ACE Aviation. RBC may from
time to time acquire additional Shares, dispose of some or all of the existing
or additional Shares or may continue to hold the Shares, in connection with
the Issuer Bid or otherwise.





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For further information: Media contact: Beja Rodeck, (416) 974-5506


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