R Split III Corp. Declares Quarterly Dividends

    TORONTO, Aug. 13 /CNW/ - The Board of Directors of R Split III Corp. (the
"Company") has today declared a dividend of $0.3287 per Preferred Share and
$0.0500 per Capital Share, payable on August 31, 2007 to holders of record at
the close of business on August 24, 2007.
    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 holders of Capital Shares quarterly
dividends in an amount equal to the dividends received by the Company on the
Royal Bank of Canada common shares in excess of the Preferred Share dividends
and forecasted administrative and operating expenses.

    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.

    %SEDAR: 00024907E

For further information:

For further information: Investor Relations, R Split III Corp., (416)
945-7386, E-mail: mc_rsplit@scotiacapital.com, Web site:

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