RBC Insurance Completes Product Integration RBC Insurance Completes Product Integration

Industry-Leading Product Suite Offers Best in Class Insurance Options

Mississauga, July 22, 2004 — RBC Insurance today announced it has completed the integration of its individual living benefits product portfolio. The industry-leading product offering, which became available to distributors on July 5, 2004, combines previously offered RBC Insurance and former UnumProvident Canada products into one comprehensive portfolio.

“Our goal was to create a best in class product offering that was innovative, competitive and cutting edge,” said Neil Skelding, president & CEO, RBC Life Insurance Company. “Our integrated individual living benefits products offer a comprehensive range of disability, critical illness and long term care insurance products geared towards meeting the needs of a broad range of clients.”

Applications, marketing materials, illustration software and sales support for the integrated product offering are available to distributors online and through regional offices.

“As a leader in the living benefits insurance market, RBC Insurance is focused on providing distributors with market-leading products and services,” said Skelding. “We look forward to working with our distribution network to help them leverage the value of this enhanced product offering and grow their business.”

RBC Insurance, through its operating entities, including RBC Life Insurance Company, provides a wide range of creditor, life, health, travel, home, auto and reinsurance products to more than five million North American clients. As one of the top 10 life insurance producers and the leading provider of individual living benefits in Canada, RBC Life Insurance Company offers a comprehensive portfolio of individual and group life and health insurance solutions. These products are distributed through more than 17,000 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 representatives. For more information, please visit www.rbcinsurance.com.