Royal Bank of Canada to redeem subordinated debentures

    TORONTO, April 23 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today
announced its intention to redeem all outstanding 4.18 per cent subordinated
debentures due June 1, 2014 (the "4.18 per cent debentures") for 100 per cent
of their principal amount plus accrued interest to the redemption date. The
redemption will occur on June 1, 2009. There is currently $1,000,000,000
principal amount of 4.18 per cent debentures outstanding.
    The redemption of the debentures will be financed out of the general
corporate funds of Royal Bank of Canada.

For further information:

For further information: Investor contact: James Colburn, Toronto, (416)
955-7808,; Media contact: Stephanie Lu, Toronto, (416)
974-5506 or toll-free 1-888-880-2173,

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