RBC Asset Management announces amendments to its portfolio solutions and changes name of RBC Global Titans Fund

    TORONTO, June 29 /CNW/ - RBC Asset Management Inc. (RBC AM) today
announced the following changes to RBC Select Portfolios, RBC Select Choices
Portfolios, RBC Cash Flow Portfolios, RBC Target Education Funds and RBC
Global Titans Fund. These changes will be effective July 1, 2007, following
the renewal of the RBC Funds 2007 Simplified Prospectus.

    RBC Select Portfolios, RBC Select Choices Portfolios, RBC Cash Flow
    Portfolios, and RBC Target Education Funds (the "Portfolios")

    Effective July 1, 2007, portfolio managers of the Portfolios will be
permitted to invest in any fund in the RBC Funds family. This change provides
greater flexibility for RBC Asset Management to respond to changing market
conditions on a more timely basis, within the established investment objective
and strategies of the Portfolios. Each Portfolio will invest in eight to
twelve individual funds. Portfolio managers of the RBC Select Choices
Portfolios will also be able to invest in any third-party managed mutual fund
and will continue to use the screening process employed by the RBC Mutual Fund
Research team.
    The simplified prospectus of each of the Portfolios and Target Funds will
disclose the target weights of each asset class. Current holding information
is available on the RBC AM website at www.rbcam.com and will continue to be
updated monthly.

    RBC Global Titans Fund changes name to RBC Global Dividend Growth Fund

    Effective July 1, 2007, the RBC Global Titans Fund will change its name
to the RBC Global Dividend Growth Fund. The new name more clearly reflects the
Fund's mandate to invest in strong global companies with the ability to grow
their dividends over time. There is no change in the investment objectives or
investment process of the Fund.

    About RBC Asset Management

    RBC Asset Management Inc. is an indirect, wholly owned subsidiary of
Royal Bank of Canada. RBC Asset Management Inc. provides a broad range of
investment services to investors through mutual funds, pooled funds and
separately managed portfolios. With offices in major financial centres around
the world, RBC Asset Management Inc. is one of Canada's largest money
    RBC Asset Management's mutual fund family was awarded the "Best Overall
Fund Group" in Canada for 2007 by Lipper Inc. The prestigious award is part of
a global program of events held by Lipper in 21 countries to highlight funds
and fund families that excel in delivering consistently strong risk-adjusted
performance relative to their peers. Visit our website at www.rbcam.com.
    RBC Asset Management is part of RBC Wealth management which directly
serves affluent and high net worth clients in Canada, the United States, Latin
America, Europe and Asia, provides asset management and trust services through
RBC partners and third-party distributors and has over $500 billion of assets
under administration, 3,500 financial advisors and $150 billion of assets
under management.

For further information:

For further information: Rina Cortese, RBC Wealth Management, (416)
974-6970, rina.cortese@rbc.com; Jackie Braden, RBC, (416) 974-2124,

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