Citigroup's Amateur, Novice, & Unskilled Analyst Recants Last Week's Analysis on RBC

Citigroup Global Markets, Shannon Cowherd, 4 May 2008� Reducing Estimated Write-Down to C$2.6B from C$5B � Based on incremental information and a broader comparison of similar institutions� related write-down/mark to market valuation metrics, we have revised our assumptions on potential write-downs at RBC to be less aggressive than in our previous report. Of the C$2.6B, RBC has taken C$787mm,