RBC Global Asset Management Launches RBC Emerging Markets Bond Fund

TORONTO, August 23, 2010 - RBC Global Asset Management (RBC GAM) today announced the launch of RBC
Emerging Markets Bond Fund, the only pure emerging markets bond fund
available to individual investors in Canada.

"As part of our commitment to providing a comprehensive line-up of
investment solutions, I am excited to announce the launch of the RBC Emerging
Markets Bond Fund. This low-cost fund is the only one of its kind for
individual Canadian investors and draws upon the time-tested expertise of
Jane Lesslie and our emerging markets debt team," said Doug Coulter,
president of RBC Asset Management Inc.

The RBC Emerging Markets Bond Fund is a diversified portfolio of emerging
market government and corporate bonds of countries such as Brazil, China,
Colombia, Indonesia, Lebanon, Malaysia, Mexico, Panama, Peru, Philippines,
Poland, Russia, South Africa, Turkey and Venezuela.

"Currently representing about 35 per cent of global output, emerging
markets have been the engine of growth, helping the world recover from the
2008 financial crisis," said Jane Lesslie, senior portfolio manager, RBC
Asset Management UK Limited. "Economic growth rates well above global
averages, stable to falling debt loads and supportive demographics, including
rapidly growing middle classes, continue to position many of these countries
as great investments going forward."

The fund is appropriate for investors seeking a combination of income and
capital growth potential while looking to diversify the fixed-income portions
of their portfolios through exposure to emerging market debt securities.
Investors should have a long-term investment horizon and should be able to
tolerate fluctuations in the value of their investments.

The RBC Emerging Markets Bond Fund is available to individual investors
through four low-cost fee options: Series D (for clients who invest directly
through PH&N Investment Services and RBC Direct Investing) and Series A,
Advisor Series and Series F (available through financial advisors). The fund
is also available to institutional investors through Series O.

The management fee for the four series available to individual investors
is outlined in the table below.

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    RBC Emerging Markets Bond Fund - Management Fee

    -----------------------------------------------------

    Series A                                        1.50%

    -----------------------------------------------------

    Advisor Series                                  1.50%

    -----------------------------------------------------

    Series F                                        0.75%

    -----------------------------------------------------

    Series D                                        0.90%

    -----------------------------------------------------

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.

About RBC Global Asset Management and RBC Wealth Management

RBC Global Asset Management (RBC GAM) comprises RBC Asset Management Inc.
(RBC AM), Phillips, Hager & North Investment Management Ltd. (PH&N) and RBC
Global Asset Management (U.S.) Inc. RBC GAM group of companies manage
approximately CND200 billion in assets, including over CND100 billion in
IFIC-reported mutual fund assets in Canada. PH&N won the Lipper Awards for
"Best Overall Fund Group" in 2010 and "Best Bond Fund Family" in 2007, 2008
and 2010; RBC AM won the Lipper Awards for "Best Bond Fund Family" in 2009
and "Best Overall Fund Group" in 2007 and 2008. Website:
www.rbcgam.com.

RBC Global 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. RBC Wealth Management provides
integrated and diversified international wealth management expertise and
solutions, asset management and trust services to high net worth individuals
and to corporate and institutional clients. Services provided by RBC Wealth
Management consultants, advisors, private bankers and trust officers include
trust and estate planning, tax advice, discretionary investment management
and investment advisory services, structured solutions, banking, lending and
global custody. RBC Wealth Management has more than CND490 billion of assets
under administration, nearly CND240 billion of assets under management and more
than 4,500 financial consultants, advisors, private bankers and trust
officers.

For further information: For further information: Yen To, RBC Global
Asset Management Communications, +1-416-955-5916; Matthew Gierasimczuk, RBC
Media Relations, +1-416-974-2124

For further information: For further information: Yen To, RBC Global Asset Management Communications, +1-416-955-5916; Matthew Gierasimczuk, RBC Media Relations, +1-416-974-2124