Royal Bank

Scholarship for medical and dental students

RBC Financial Group is announcing a new scholarship for students entering medical or dental school in Canada.

The RBC Medical & Dental Student Scholarship will be awarded to five students accepted into a first year of study in a recognized medical or dental program in Canada for the 2004-2005 academic year and is valued at $3,000 each. Successful applicants will be chosen based on demonstrated academic excellence, financial need and commitment to their community. Students from communities throughout Canada who are beginning their studies to become an accredited doctor or dentist are encouraged to apply.

"Finances can be barriers to education, and medical and dental programs are particularly costly," said Kathryn Whalley, national manager, Consumer Markets, RBC Royal Bank. "We've introduced the RBC Medical & Dental Student Scholarship to help ease the burden for the long road ahead, right from a medical or dental student's start of study. We also want to recognize the significant achievement these students have already made."

RBC continues to be a strong supporter of education. Over a quarter of RBC's annual donation budget is devoted to education, representing almost $9 million in 2003 - including major gifts to universities and colleges. RBC's support is based on the belief that an investment in young people and education is one of the best investments a company can make to ensure the future health and prosperity of our communities. The RBC Medical & Dental Student Scholarship is being extended in recognition of the high cost of these programs and the shortages of qualified professionals in many communities across Canada.

About RBC Financial Group
Royal Bank of Canada (RY: TSX, NYSE) 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 clients through offices in North America and some 30 countries around the world. 

TORONTO, April 13, 2004