RBC Centura to Sponsor Florida Trade Mission to Canada

Business Wire, July 21, 2004

ROCKY MOUNT, N.C. -- RBC Centura Bank today announced its sponsorship of "Team Florida Canada," a trade mission to Canada being led later this month by Governor Jeb Bush and Enterprise Florida, the state's economic development organization. RBC Centura is the exclusive financial services company sponsoring the 100-delegate-strong mission, which is scheduled for July 26th through the 30th.

"RBC Centura has a strong tradition of working with small- and mid-sized companies to identify, pursue, and maximize growth opportunities, which is one reason we readily agreed to partner on this very compelling trade initiative," said Kevin McNamara, the bank's regional president for commercial banking. "Our relationship with Royal Bank of Canada and the resulting unparalleled depth of resources, capabilities, and market expertise we can offer Canadian companies interested in expanding in Florida -- and vice versa -- provides another reason."

RBC Centura is a wholly owned subsidiary of Royal Bank of Canada (which operates under the master brand name of RBC Financial Group), that country's largest bank as measured by market capitalization and assets, and one of North America's leading diversified financial services companies. A notable percentage of RBC Centura's business and commercial clients in Florida are already engaged in cross-border operations, particularly in Canada.

According to Enterprise Florida, Canada is Florida's second-largest export market and largest foreign investor. The organization recently reported that Canada imported approximately $2.4 billion in goods from Florida last year and invested an estimated $5.5 billion in the state during 2001, the most recent year for which such data is available.

The Team Florida Canada trade mission is designed to give Florida companies the opportunity to increase exports with potential Canadian buyers through one-on-one meetings arranged by Enterprise Florida and the U.S. Commercial Service in Canada. RBC Centura and Royal Bank of Canada are co-sponsoring events on the 27th and 28th in Montreal; Governor Bush will participate in these meetings.

"In addition to fostering greater awareness of cross-border opportunities for individual local companies looking to tap into the lucrative Canadian and Floridian markets, this trade mission will prove a boost to the greater Florida economy, which already benefits handsomely from its ties with our northern neighbor," said McNamara, who will be one of five participating RBC Centura delegates.

Florida is one of RBC Centura's strategic growth markets. In just over a year since first entering the Florida market, RBC Centura has already amassed nearly $3 billion in deposits and loan accounts, and created jobs for 350 employees at its 31 banking and commercial loan centers in the state.

About RBC Centura

RBC Centura Bank offers a wide range of financial services and advice, including a complete line of banking, investment, loan, mortgage, life insurance, and other services, to individuals and businesses in North Carolina, South Carolina, Virginia, Georgia, and Florida. RBC Centura's multifaceted customer access network includes more than 260 full-service financial offices, an extensive ATM network, and telephone and Internet banking. In addition, RBC Centura offers residential mortgages through its wholly owned subsidiary, RBC Mortgage, one of the largest retail mortgage originators in the U.S., and builder finance products through RBC Builder Finance. RBC Centura Banks, Inc., is a wholly owned subsidiary of Royal Bank of Canada (NYSE, TSX: RY). Additional information may be found at www.rbccentura.com.

In addition to RBC Centura, RBC's U.S. operations include: Minneapolis-based RBC Dain Rauscher, a full-service securities firm; RBC Capital Markets, with corporate and investment banking operations in New York, Greenwich, and other select U.S. locations; RBC Insurance, which provides individual insurance and administration solutions through its operating businesses, Liberty Life Insurance Company and Liberty Insurance Services Corporation of Greenville, S.C.; and Royal Bank of Canada Global Private Banking in New York and Miami.