RBC statement re: ACE Aviation Holdings Inc.

    TORONTO, June 6 /CNW/ - Royal Bank of Canada ("RBC"), announced today
that it has acquired 50,000 Class B Voting Shares (the "Shares") of ACE
Aviation Holdings Inc. ("ACE Aviation") on June 5, 2008. Immediately following
this acquisition, RBC has beneficial ownership of, or control or direction
over, 834,703 Shares, representing 5.27 per cent of the Shares outstanding.
Since the commencement of an issuer bid by ACE Aviation in respect of the
Shares on May 9, 2008, RBC and all persons acting jointly or in concert with
RBC have beneficially acquired, or have acquired control or direction over,
    The acquisition on June 5, 2008 was completed on the Toronto Stock
Exchange as a part of RBC's ongoing hedging activity and not with the purpose
or effect of influencing or changing the control of ACE Aviation. RBC may from
time to time acquire additional Shares, dispose of some or all of the existing
or additional Shares or may continue to hold the Shares.

For further information:

For further information: Media contact: Beja Rodeck, (416) 974-5506

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