  We use a statistical sample of ~500 rich clusters taken from 72 square
degrees of the Red-Sequence Cluster Survey (RCS-1) to study the evolution of
~30,000 red-sequence galaxies in clusters over the redshift range 0.35<z<0.95.
We construct red-sequence luminosity functions (RSLFs) for a well-defined,
homogeneously selected, richness limited sample. The RSLF at higher redshifts
shows a deficit of faint red galaxies (to M_V=> -19.7) with their numbers
increasing towards the present epoch. This is consistent with the `down-sizing`
picture in which star-formation ended at earlier times for the most massive
(luminous) galaxies and more recently for less massive (fainter) galaxies. We
observe a richness dependence to the down-sizing effect in the sense that, at a
given redshift, the drop-off of faint red galaxies is greater for poorer (less
massive) clusters, suggesting that star-formation ended earlier for galaxies in
more massive clusters. The decrease in faint red-sequence galaxies is
accompanied by an increase in faint blue galaxies, implying that the process
responsible for this evolution of faint galaxies is the termination of
star-formation, possibly with little or no need for merging. At the bright end,
we also see an increase in the number of blue galaxies with increasing
redshift, suggesting that termination of star-formation in higher mass galaxies
may also be an important formation mechanism for higher mass ellipticals. By
comparing with a low-redshift Abell Cluster sample, we find that the
down-sizing trend seen within RCS-1 has continued to the local universe.
