RBC Asset Management Inc. and Phillips, Hager & North December sales results

    TORONTO, Jan. 5 /CNW/ - RBC Asset Management Inc. (RBC AM) and Phillips,
Hager & North (PH&N) announced December net sales of $680 million. Money
market funds had net sales of $1.1 billion and long term funds had net
redemptions of $433 million. Assets under management increased by $0.7
billion, or 0.8 per cent, in December.
    "In the current environment, we have been pleased to see continued
positive net sales and growth in our assets under management," said Brenda
Vince, president of RBC AM.

    About Global Asset Management and RBC Wealth Management

    Global Asset Management comprises RBC Asset Management Inc. (RBC AM),
Phillips, Hager & North Investment Management Ltd. (PH&N) in Canada and
Voyageur Asset Management Inc. in the U.S. Combined, RBC AM and PH&N have $92
billion in IFIC-reported mutual fund assets under management and an additional
$48 billion in other institutional and private client assets under management.
RBC AM and PH&N received the Lipper Awards for "Best Overall Fund Group" and
"Best Bond Family" in Canada respectively for the second consecutive year in
    Global 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. RBC Wealth Management also provides asset management
and trust products and services directly and through RBC and third-party
distributors to all client segments, and has approximately C$500 billion of
assets under administration, C$220 billion of assets under management and more
than 4,000 financial consultants, advisors, private bankers and trust

For further information:

For further information: Chris Dotson, RBC Global Asset Management
Communications, (604) 408-6009; Jackie Braden, RBC Media Relations, (416)

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