News Releases

BMO Investments Inc. today announced that, effective March 1, 2004, it is appointing the following investment advisors for the BMO Mutual Funds indicated below:

BMO International Equity Fund
Capital Guardian Trust Company, Los Angeles, California, will replace The Putnam Advisory Company, LLC as the investment advisor for the BMO International Equity Fund. As of December 31, 2003 Capital Guardian managed approximately $189 billion in assets.

BMO Japanese Fund
Martin Currie Inc., Edinburgh, Scotland, will replace the JP Morgan Fleming Asset Management Group as the investment advisor for the BMO Japanese Fund. Martin Currie invests in international equities for clients worldwide, managing approximately $16.2 billion in assets as of December 31, 2003.

BMO Emerging Markets Fund
AllianceBernstein Institutional Investment Management, New York, New York, will replace the JP Morgan Fleming Asset Management Group as the investment advisor for the BMO Emerging Markets Fund. It is the institutional sales and marketing unit of Sanford C. Bernstein & Co., Ltd. and Alliance Capital Management L.P. Assets under management for the combined companies were approximately $616.1 billion as of December 31, 2003. AllianceBernstein also manages the BMO European Fund.

"After a thorough review and selection process, we chose these firms to join our portfolio management team because each investment manager has a demonstrated investment process with an established track record," said Ed Legzdins, President and CEO, BMO Investments Inc. "We revisit our existing relationships with partners on an ongoing basis as part of our commitment to providing clients with superior management expertise."

BMO Investments Inc. is a member of BMO Financial Group and part of the organization's Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and has total assets under management and administration and term investments of $278 billion at January 30, 2004.