RBC Insurance® launches national patient education initiative

Works with Healthtv™ to develop information video for hospital network

Mississauga, June 5, 2002 RBC Insurance
today announced a national patient education initiative focused on providing consumers
with information on critical illness insurance. The new eight-minute video was developed
with The Health Television System Inc. and is part of RBC’s ongoing efforts to bring
information about insurance to consumers.

“Hundreds of thousands of Canadians suffer from
serious illnesses and injuries every year and thanks to the advances of modern medicine
and technology, many of them will survive this ordeal,” said Kathryn Giffen,
president of the life insurance division of RBC Insurance. “But recovery can be
expensive – and that is where critical illness insurance can really help.”

“RBC Insurance is committed to ensuring consumers
across Canada are aware of the importance of this type of insurance coverage. Healthtv™,
The Health Television System’s hospital-based television network, offered
a perfect opportunity to educate consumers about this valuable protection option,” added Giffen.

The video was pre-screened by 12 health care professionals,
representing a variety of health care facilities. Kathy Kastner, who is CEO and Director
of Programming for The Health Television System Inc., was at the screening and was very
impressed with the feedback she received.

“The response to the video was terrific,” said
Kastner. “Families often have to deal with financial challenges when critical
illnesses occur, and having this kind of tool will go a long way towards educating people
about the issues to consider when obtaining critical illness insurance.”

The video will be distributed through a network of
hospitals to almost two million viewers across Canada and is already running on Healthtv™,
The Health Television System’s hospital-based television network.

About The Health Television System Inc.

The Health Television System Inc., which is free of charge
to patients, broadcasts in the largest teaching hospitals in Canada. All content on Healthtv
is developed in collaboration with relevant national disease associations and Health Canada.

About RBC Insurance

RBC Insurance provides a wide range of creditor, life,
health, travel, home, auto and reinsurance products to more than five million North
American customers. As one of the top 10 life insurance producers in Canada, RBC Insurance
offers individual and group life and health insurance solutions, including term insurance,
universal life policies and group benefits. These products are distributed through more
than 5,000 independent brokers affiliated with producer groups, financial planning firms
and stock brokerage firms, as well as through direct sales and a network of career sales agents. For more
information, please visit www.rbcinsurance.com.

About RBC

Royal Bank of Canada (TSX, 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 59,000
people who serve more than 12 million personal, business and public sector customers in
North America and in some 30 countries around the world. For more information, please
visit www.rbc.com.