MONERIS SOLUTIONS PURCHASES MERCHANT ACQUIRING PORTFOLIO FROM RBC CENTURA

Chicago and Rocky Mount, NC – February 12, 2004 – Moneris Solutions, Inc. a wholly-owned subsidiary of Moneris Solutions Corporation (“Moneris”), one of North America’s largest processors of credit and debit card transactions, today announced that it has purchased the merchant acquiring portfolio of RBC Centura Bank, the North Carolina-based subsidiary of Royal Bank of Canada (RY: TSX, NYSE). Terms of the deal were not disclosed.

In addition, Moneris and RBC Centura have agreed to a referral arrangement, providing Moneris with the opportunity to sign up new merchant accounts from RBC Centura’s 242 branches located throughout North Carolina, South Carolina, Virginia, Georgia and Florida.  

The deal expands Moneris’ scale and distribution throughout the United States. Acquiring RBC Centura’s current merchant acquiring portfolio together with access to its current and future branch network provides Moneris with an opportunity to align itself with an established financial institution in a new geographical area.

“The acquisition of RBC Centura’s merchant portfolio is consistent with Moneris’ U.S. growth strategy,” said Jim Baumgartner, president and CEO, Moneris. “Our emphasis is on building our business through a regional sales and relationship management organization by utilizing the expanding products, solutions and capabilities of Moneris’ North American operations.”

"Our agreement with RBC Centura highlights Moneris’ dedicated service to the agent bank and financial institutions market segment and further differentiates us in the competitive processing sector,” adds Larry Wine, president of Moneris’ U.S. Group.

“With today’s announcement, our combined branch distribution now exceeds 400 branches with coverage in the Chicago market through Bank of Montreal’s U.S. affiliate Harris Bank, and the Southeast through RBC Centura. We have significantly expanded our market reach and are well on our way to solidifying Moneris’ position as the financial institution’s provider of choice,” said Wine.

Moneris offers card transaction and payment services for businesses in virtually every industry segment that accept Visa®, MasterCard®, American Express®, Diners®, Discover/Novus®, and Interac Direct Payment. Moneris also offers a variety of point of sale solutions including e-commerce and wireless, and through its Ernex division, leading-edge electronic loyalty and gift card programs.

About RBC Centura
RBC Centura Bank offers a wide range of financial services and advice, including a complete line of banking, investment, loan, mortgage, life insurance, and other services, to individuals and businesses in North Carolina, South Carolina, Virginia, Georgia and Florida.  RBC Centura’s multifaceted customer access network includes more than 240 full-service financial offices, an extensive ATM network, and telephone and Internet banking.  In addition, RBC Centura offers residential mortgages through its wholly owned subsidiary, RBC Mortgage, one of the largest retail mortgage originators in the U.S., and builder finance products through RBC Builder Finance.  RBC Centura Banks, Inc., is a wholly owned subsidiary of Royal Bank of Canada (NYSE, TSX: RY).  Additional information may be found at www.rbccentura.com.

About Moneris Solutions Corporation
Moneris Solutions is one of North America’s largest electronic transaction processors, offering unique card transaction and payment services for virtually every industry segment that accepts credit and/or debit card payments from its customers. Moneris delivers advanced payment card processing capabilities through point-of-sale hardware, payment processing software and e-commerce solutions. Through its Ernex division, Moneris offers leading-edge electronic loyalty and gift card programs. The company also provides transaction-processing services for numerous agent banks and serves the small to medium-sized business market through direct sales and strategic partnerships. Established in 2000 as a joint investment between the RBC Financial Group and the BMO Financial Group, which have combined assets of approximately $700 billion, Moneris serves more than 350,000 North American merchant locations and has a staff of over 1,100 employees. The company has headquarters in Toronto, Ontario and Chicago, IL.