R Split II Corp. Declares Quarterly Dividends

    TORONTO, Jan. 13 /CNW/ - The Board of Directors of R Split II Corp. (the
"Company") has declared today dividends of $0.3241 per Preferred Share and
$0.2600 per Capital Share, payable on February 27, 2009 to holders of record
at the close of business on February 18, 2009.
    Holders of Preferred Shares are entitled to receive quarterly fixed
cumulative distributions equal to $0.3241 per Preferred Share. The Company's
Capital Share dividend policy entitles holders of Capital Shares to receive
quarterly dividends in an amount equal to the dividends received by the
Company on the Royal Bank of Canada common shares minus the dividends payable
on the Preferred Shares and all administrative and operating expenses.
    The Capital Shares and Preferred Shares will be redeemed by the Company
on May 31, 2009 (the "Redemption Date") in accordance with the redemption
provisions of the shares. Pursuant to these provisions, the Preferred Shares
will be redeemed at a price per share equal to the lesser of $30.50 and the
Net Asset Value per Unit. The Capital Shares will be redeemed at a price for
every two shares equal to the amount by which the Net Asset Value per Unit
exceeds $30.50.

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

    %SEDAR: 00020472E

For further information:

For further information: Investor Relations, R Split II Corp., (416)
945-5353, E-mail: mc_rsplit2@scotiacapital.com, Web site:

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