RBC Asset Management Inc. reduces management fees

    TORONTO, Oct. 4 /CNW/ - RBC Asset Management Inc. ("RBC AM") today
announced that it is reducing the management fees on the RBC $U.S. Money
Market Fund, the RBC Canadian Short-Term Income Fund, the RBC Bond Fund, and
the RBC Global High Yield Fund effective November 1, 2007.

                                       Current      Management Fee effective
    Series A and Advisor Series     Management Fee     November 1, 2007
    RBC $U.S. Money Market Fund(*)       1.00%                0.85%
    RBC Canadian Short-Term
     Income Fund                         1.25%                1.15%
    RBC Bond Fund                        1.25%                1.15%
    RBC Global High Yield Fund           1.75%                1.50%
    (*) Only available in Series A.

    RBC AM also indicated that further reductions are planned for April 1,
2008 to bring the management fees for the RBC Canadian Short-Term Income Fund
and the RBC Bond Fund to one per cent.
    "These reductions are another example of our ongoing commitment to
provide the best value-for-money for our unit holders," said Brenda Vince,
president, RBC Asset Management.

    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: Rina Cortese, RBC Wealth Management, (416)
974-6970; Jackie Braden, RBC Media Relations, (416) 974-2124

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