RBC Asset Management Inc. August Sales Results

    Personal Investors Stay the Course in Mutual Funds

    TORONTO, Sept. 5 /CNW/ - Despite increased volatility in global equity
and fixed income markets, personal investors stayed the course with their
investments in mutual funds, as reflected in RBC Asset Management's August
sales results.
    RBC Asset Management Inc. today announced August net long-term fund sales
of $51 million. Money market funds had net redemptions of $115 million for a
total of $64 million in overall net redemptions for the month. Money market
redemptions were primarily in non-personal accounts and the flows into money
market funds were modestly positive for personal investors. RBC Asset
Management net sales results for the 12 months ended August 31, 2007 were
$7.3 billion, including $6.2 billion in long-term net sales and $1.1 billion
in money market net sales. Assets under management have increased by
$12.2 billion or 18 per cent over the same period.
    Earlier in August, RBC Asset Management announced that all asset-backed
commercial paper owned in RBC Money Market Funds is through conduits sponsored
by the other four major Canadian chartered banks and has not been impacted by
the recent liquidity issues in money markets.

    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 managers
and has over $83 billion in assets under management.
    The RBC Asset Management 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: Media contacts: Rina Cortese, RBC Wealth
Management, (416) 974-6970; Jackie Braden, RBC Media Relations, (416)

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