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Bank taps internal executive to lead Builder Finance business

RALEIGH, NC and HOUSTON, TX, May 23, 2006 - RBC Centura Bank today announced the appointment of Drew Putt as CEO and managing director of RBC Builder Finance. The bank selected Putt to lead its Houston-based, $2 billion residential construction financing arm based on her solid industry and company track record.

As CEO and managing director, Putt will guide RBC Builder Finance's overall strategy and operations across the bank's Southeastern footprint and nationally. She will also manage the business' future growth and favorable returns. Putt replaces John DeSpain and will be based in Houston after a 20-year banking career in Atlanta.

"Drew's collaborative spirit, ability to build strong interpersonal relationships, integrity and commitment to excellence were important considerations in her selection for this role," said Scott Custer, RBC Centura CEO. "She is one of our top executives and has demonstrated outstanding leadership and business acumen since joining RBC Centura. I'm confident she will excel in this new role."

Putt previously served the bank as market executive and regional president for Commercial Banking in Georgia. A veteran of the Atlanta commercial banking community, Putt joined RBC Centura in 2003 from Wachovia. Originally from Charleston, S.C., Putt earned a degree in bank finance from the University of South Carolina. She has attended the ABA National Commercial Lending School and is a Board and Executive Committee member of Junior Achievement Georgia. In addition, Putt was recently named to the Carter Center Board of Directors and has been active in the Midtown Alliance, Atlanta Chamber of Commerce and Georgia Chamber of Commerce.

RBC Centura is conducting a comprehensive search and expects to name Putt's replacement in the coming months.

RBC Centura

RBC Centura 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, businesses and public institutions throughout the Southeast. RBC Centura's multifaceted customer access network includes more than 270 full-service banking centers, an extensive ATM network, and telephone and Internet banking. In addition, RBC Centura offers builder finance products through its RBC Builder Finance division. According to the Federal Reserve, RBC Centura is the 50th largest U.S. commercial bank as of June 2005. RBC Centura Banks, Inc., is a wholly owned subsidiary of Royal Bank of Canada (RBC) (NYSE, TSX: RY).

About RBC Builder Finance

Headquartered in Houston, Texas, RBC Builder Finance currently has over 30 loan offices servicing more than 90 major metropolitan markets throughout the United States. RBC Builder Finance is a $2.15 billion national residential construction financing operation specializing in providing financing to experienced residential developers and homebuilders.

FOR MORE INFORMATION: Kristen Doherty, RBC Centura, (919) 788-6076