Vancouver 2010

Vancouver 2010

February 24, 2005 13:59 ET

Vancouver 2010 Selects RBC Financial Group as Exclusive National Banking Partner


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: VANCOUVER 2010

FEBRUARY 24, 2005 - 13:59 ET

Vancouver 2010 Selects RBC Financial Group as
Exclusive National Banking Partner

HALIFAX, NOVA SCOTIA--(CCNMatthews - Feb. 24, 2005) -

Renews 58-year relationship with Canada's Olympic movement Includes
Canadian Olympic Team sponsorship rights for 2006, 2008, 2010 and 2012
Games

The Vancouver Organizing Committee for the 2010 Olympic and Paralympic
Winter Games (VANOC) and RBC Financial Group are pleased to announce
that RBC has been chosen as the premier national partner in the banking
category.

RBC is the longest-serving national partner of the Canadian Olympic
team, and with this announcement, continues a 58-year relationship with
the Canadian Olympic movement that officially started in 1947. Today's
agreement provides continued Canadian Olympic Team sponsorship rights
for RBC Financial Group for the Torino 2006, Beijing 2008, Vancouver
2010, and the 2012 Games. RBC's total commitment is valued at C$110
million over the next eight years including a cash contribution of more
than C$70 million. Other support includes banking services, athlete and
amateur sport investments, support for the Paralympics, First Nation's
community development programs and Olympic brand marketing and
promotional support through the RBC network.

"RBC has an outstanding record of supporting amateur athletics in Canada
and has been an exceptional partner for Canada's Olympic and Paralympic
movements," said John Furlong VANOC CEO. "Our goal is to organize great
Games on behalf of all Canadians and help Canada's athletes achieve
great results in 2010 and beyond. RBC - one of Canada's most trusted
companies - shares this vision and with their tradition and experience
will help us create the conditions for success in 2010."

"We are extremely proud to renew our long relationship as the exclusive
national Olympic banking partner for the Games," said Gordon Nixon,
President and CEO, RBC Financial Group. "RBC's commitment to the Olympic
Movement has been steadfast since 1947, and our employees have always
been terrific supporters of Canadian Olympians and Paralympians. We are
delighted to have the opportunity once again to help fulfill Canada's
commitment to the International Olympic Committee to promote, care and
nurture the Olympic promise and its values. And we are ready to assist
VANOC in setting a new world standard for the Vancouver 2010 Winter
Games."

"The Canadian Olympic Committee congratulates RBC Financial Group on its
success in becoming a major partner with VANOC for the 2010 Winter
Games," said Chris Rudge Canadian Olympic Committee CEO. "This is great
news for sport. Over the past 58 years, RBC has played a pivotal role in
the Canadian Olympic Movement through the support of athlete
development, Olympic education and athlete career mentoring. We look
forward to continuing this successful partnership."

VANOC's marketing program is focused on securing mutually rewarding
partnerships with shared Olympic values to generate sufficient revenue
to host successful Winter Games in 2010 and to leave a financial legacy
for sport.

About VANOC

VANOC is responsible for the planning, organizing, financing and staging
of the XXI Olympic Winter Games and the X Paralympic Winter Games in
2010. The 2010 Olympic Winter Games will be staged in Vancouver and
Whistler from February 12 to 28, 2010. Whistler will host the Paralympic
Winter Games from March 12 to 21, 2010. For more information visit
www.vancouver2010.com.

About RBC Financial Group

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 bank as measured by 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 approximately 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.
For more information, please visit www.rbc.com.

For a complete backgrounder on RBC's involvement with the Canadian
Olympic program, please click http://www.rbc.com/sponsorship/history.html

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Vancouver 2010 Organizing Committee
    Sam Corea
    Communications Manager
    (604) 806-1019
    sam_corea@vancouver2010.com
    or
    RBC Financial Group
    Beja Rodeck
    Senior Manager, Media Relations
    (416) 525-7793
    beja.rodeck@rbc.com