LONDON, May 15, 2008 - RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (RY on TSX and NYSE), today held its annual diamond conference at HM Tower of London.  The conference brought together senior executives from industry-leading exploration and mining companies including De Beers, Rio Tinto and Harry Winston Diamond Corporation, as well as exciting emerging juniors, such as Rockwell Diamonds and Petra Diamonds.  In addition, Apollo Diamond Gemstone*, one of only two producers of synthetic diamonds, gave a presentation at the prestigious event.

Opening the conference, Des Kilalea, Analyst, Global Mining Research at RBC Capital Markets said: "While the short-term outlook for consumer demand for diamonds is somewhat depressed, the longer-term outlook for purchases of diamond jewellery is good. Newly emerging economies such as India and China, as well as the Gulf States, will augment strong potential offtake in the US.

"However, the supply of newly-mined diamonds will not be able to keep up with this growing demand, which means the price of diamonds must rise, and in particular, prices of better quality diamonds."

Speaking at RBC's conference Robert Gannicott, Chairman & CEO, Harry Winston Diamond Corporation said: "For the first time since the late 19th century the diamond market is now free of producer stockpiles as demand moves ahead of mine supply. The wealth transfer associated with surging commodity prices, coupled with wealth creation in the emerging industrial economies of China and India, implies a strong demand for high quality rough diamonds, jewellery and watches."

Stuart Brown, CFO, De Beers Group commented: "The global diamond market is currently experiencing a very interesting period; although the economics and sentiments of the industry are often difficult to understand, De Beers remains confident that the industry as a whole is moving in the right direction.  We feel we are well placed to participate in the industry in a meaningful way in the future."

Also speaking was Bill Champion, Managing Director, Rio Tinto, who said: "Rio Tinto's experience and expertise in diamond exploration, mining and marketing spans several decades. Our diamond sales and marketing capability is based on over 25 years of experience with sorting, valuing and selling the full range of rough and polished diamonds from three very distinct and different productions, including our iconic pink diamonds, which are world renown for their rarity and value. We are uniquely placed within the diamond industry to capture a wide range of value creating opportunities to the benefit of our shareholders and stakeholders."

Other speakers sharing insights at the conference were Kopane Diamond Developments plc, African Diamonds plc, BRC DiamondCore Ltd, Pangea Diamond Fields plc, Rockwell Diamonds Inc, Petra Diamonds Ltd, Stornoway Diamond Corporation, Vaaldiam Resources Ltd, Shore Gold Inc, Namakwa Diamonds Ltd and Firestone Diamonds plc.

The conference contents will be available via audio-only webcast from Friday 16 May via our website at www.rbccm.com

* An additional note highlighting key points from Apollo's presentation will be sent after 2pm GMT today.

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Notes to Editors

About RBC Capital Markets Metals and Mining

RBC Capital Markets is a globally recognized leader in metals, mining and commodities with offices in London, New York, Sydney, and Toronto. RBC covers the full spectrum of metals and minerals and provides equity research on 135 global mining stocks. RBC acts as a Sponsor for the London Main Market as well as being a NOMAD on AIM and a member of the London Metal Exchange.

About RBC Capital Markets

RBC Capital Markets is the corporate and investment banking arm of RBC and is active globally in fixed income, foreign exchange, infrastructure finance, metals, mining and energy. Our international fixed income and treasury businesses are managed from London, which is the centre of a 24-hour trading platform with major hubs in Toronto, New York and Sydney.  For more information, please visit www.rbccm.com

05/15/2008