Royal Bank Renews US$40 Billion Notes Programme

The Royal Bank of Canada updated its US$40 billion programme for the issuance of notes on July 16, 2008 (including the addition of specific terms and conditions for various structured notes, including index-linked notes, equity-linked notes and fund-linked notes). The co-arrangers were Royal Bank of Canada Europe Limited and Morgan Stanley & Co. Limited and the dealer group for the Programme consisted of Royal Bank of Canada Europe Limited, Barclays Bank PLC, Citigroup Global Markets Limited, Credit Suisse Securities (Europe) Limited, Deutsche Bank AG, London Branch, HSBC Bank plc, J.P. Morgan Securities Ltd., Merrill Lynch International and Morgan Stanley & Co. International plc.

The issuer was represented by Ogilvy Renault LLP (Canadian law and EU securities law), with a team including Peter S. Noble and Susan E. Mann and Adrienne Oliver (tax), Allen & Overy LLP (UK law) with a team including Matthew Hartley, David Hassan and Shin Ji Kim and by RBC senior counsel Paul Guthrie. Sherry Roth and Tina Maisonneuve (London) and Trevor McGowan (tax) of Stikeman Elliott LLP represented the dealer group.

Lawyer(s)

Sherry L. Roth Trevor McGowan Susan E. Mann Adrienne F. Oliver Peter S. Noble