[BobtheBuilder]

http://www.rbcroyalbank.com/prepayment/
Prepayment Charge Adjustment


Did you sign a Replacement Mortgage Renewal Agreement with RBC Royal Bank® between August 28, 2001 and February 11, 2004 for a fixed rate residential mortgage?

RBC Royal Bank recently discovered that we incorrectly calculated the prepayment charge on some of our fixed rate residential mortgages. As a result, we over-charged some of our clients.

You may be affected if you are a current or past RBC Royal Bank mortgage client who:

* Between August 28, 2001 and February 11, 2004:

o early renewed your mortgage into a fixed rate closed mortgage, or
o converted your mortgage into a fixed rate closed mortgage, or
o renewed your mortgage into a fixed rate closed mortgage and signed a form titled "Replacement Mortgage Renewal Agreement".

What is RBC doing to fix the situation?

We have mailed out cheques to clients we identified as being affected by this issue.

What if you haven't received a cheque?

You should receive your cheque in the mail by February 10, 2006. If you do not receive one and believe you are entitled to a reimbursement, please fill out a Mortgage Prepayment Charge Adjustment Request Form. Or, for more information, please see our Frequently Asked Questions.

What if you haven't prepaid your mortgage?

If you have not prepaid your fixed rate closed mortgage but may do so in the future, please let us know if you have signed a Replacement Mortgage Renewal Agreement, Early Renewal Agreement or Conversion Agreement between the dates noted above. We will then make sure the correct prepayment calculation is associated with your mortgage.

If you wish to talk to us, please visit your branch or call 1-800-769-2511.