Royal Bank of Canada announces increase to preferred share issue

    TORONTO, Jan. 22 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today
announced that as a result of strong investor demand for its domestic public
offering of Non-Cumulative, 5 year rate reset Preferred Shares Series AR (the
"Preferred Shares Series AR"), the bank has increased the Underwriters option
to 4 million Preferred Shares Series AR at a price of $25 per share.
    We routinely undertake funding transactions to maintain strong capital
ratios and a cost effective capital structure. Net proceeds from this
transaction will be used for general business purposes.

For further information:

For further information: Media Contact: Stephanie Lu, Media Relations,
(416) 974-5506; Investor Contact: James Colburn, Investor Relations, (416)
955-7808; Or visit the site:

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