RBC Asset Management marks 10-year anniversary with launch of RBC O'Shaughnessy US Growth Fund II

    TORONTO, Jan. 14 /CNW/ - RBC Asset Management Inc. ("RBC AM") today
announced the launch of the RBC O'Shaughnessy U.S. Growth Fund II, adding to
its top-performing lineup of RBC Funds. The fund is designed for long-term
investors looking for exposure to primarily small and mid-cap U.S. securities
with above-average growth potential. All U.S. currency exposure in the fund is
    "O'Shaughnessy's consistent and time-tested quantitative approach to
security selection has led the RBC O'Shaughnessy Funds to deliver strong
performance over the past ten years, winning the respect of clients and
advisors alike," said Brenda Vince, president of RBC AM. "Canadians now have
$6 billion invested in the six RBC O'Shaughnessy Funds, the first three of
which were introduced in 1997."
    "We're building exceptional track records in the marathon event of
long-term investing," said Jim O'Shaughnessy. "It's a great partnership with
RBC AM, and we're excited that the RBC O'Shaughnessy US Growth Fund II has
been added to the line-up."
    The new fund is an alternative to the RBC O'Shaughnessy U.S. Growth Fund,
which was launched November 1997 and was closed to new investors on June 30,
2006 due to capacity constraints. Like all RBC O'Shaughnessy Funds, the new
fund follows a disciplined and transparent methodology for selecting
securities with the best potential.
    Starting January 14, 2008, the RBC O'Shaughnessy U.S. Growth Fund II will
be available in a full range of series options for sale through full service
and discount brokers, including RBC Dominion Securities and RBC Direct
Investing. Beginning February 19, 2008, the fund will also be available
through RBC branches, RBC Invest by Phone and RBC Online Banking.

    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 $87 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.
    Please read the prospectus before investing. There may be commissions,
trailing commissions, management fees and expenses associated with mutual fund
investments. Mutual funds are not guaranteed, their values change frequently
and past performance may not be repeated. RBC Funds are offered by RBC Asset
Management Inc. and distributed through authorized dealers.

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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