Michael J. Fontana of RBC Mortgage Named President of the Michigan Mortgage Lenders Association

Market Wire, 20050229

RBC Mortgage Company, one of the nation's leading residential mortgage companies, announced today that senior mortgage consultant Michael J. Fontana has been elected president of the Michigan Mortgage Lenders Association (MMLA). His first priorities include addressing pending mortgage bills in Michigan's legislature, expanding MMLA's membership base and promoting both consumer and member education.

In addition to Fontana's MMLA responsibilities, he will continue to originate loans for RBC Mortgage's Troy, Michigan, office. "I cannot put a dollar amount on the learning and exposure to the business I will experience in this new role. It's a great opportunity to become even more involved in the industry at a time when many important changes are about to take place. Plus, I think it is important for all mortgage professionals to take the time to give back to the industry that has given them so much success," said Fontana.

Previously, Fontana held the position of MMLA vice president. He has been on the organization's board for three years.

About RBC Mortgage

RBC Mortgage, headquartered in Chicago, is currently the 11th-largest retail mortgage originator and has a fast-growing wholesale lending business. It employs more than 2,000 people, including 1,200 loan officers in 215 branch offices in 30 states. RBC Mortgage is nationally licensed to provide first mortgage, second mortgage and home equity loans.

RBC Mortgage operates as both a mortgage banker - underwriting, closing and funding loans - as well as a mortgage broker - offering loan products from more than 150 lenders. As a result, RBC Mortgage is able to offer its customers a broad selection of mortgage products, along with superior customer service from experienced mortgage professionals.

RBC Mortgage subsidiaries include Pacific Guarantee Mortgage Corporation of Point Richmond, Calif.; Mortgage Market Inc. of Lake Oswego, Ore.; Valley Financial of Alamo, Calif.; and AmeriCorp Funding of Los Angeles.

RBC Mortgage is a member company of RBC Financial Group. For more information on RBC Mortgage, visit the company's Web site at www.rbcmortgage.com.

About RBC

Royal Bank of Canada (TSX: RY), (NYSE: RY) uses the initials RBC as a prefix for its businesses and operating subsidiaries, which operate under the master brand name of RBC Financial Group. Royal Bank of Canada is Canada's largest financial institution as measured by market capitalization and assets, and is one of North America's leading diversified financial services companies. It provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. The company employs 60,000 people who serve more than 12 million personal, business and public sector customers through offices in North America and some 30 countries around the world. For more information, please visit www.rbc.com.