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Graduate students will benefit at Western and academic opportunities will increase at the Richard Ivey School of Business through a $1.5 million gift from BMO Financial Group, presented to Western this morning at the Celebrate 150 Breakfast at the London Convention Centre.

"BMO's generous gift provides an important financial boost to graduate studies at Western," says Paul Davenport, Western's President. "Ontario universities currently produce only half as many advanced graduate degrees compared to the U.S. when proportion of population is taken into consideration. BMO's leadership allows us to address important priorities in graduate education and in our outstanding Richard Ivey School of Business."

The first $1.2 million of the donation will establish the BMO Financial Group Graduate Scholarships for Master's and Doctoral students in programs across the University. Half of these funds will be used to support these scholarships immediately, and the remaining funds will be endowed to ensure the scholarships exist for years to come. Twelve BMO Financial Group Scholarships, valued at $15,000 each, will become available this coming academic year. Through the endowment, the number of scholarships will grow over time. Through the province's matching gift programs for Ontario Graduate Scholarships in Science and Technology, BMO's gift will help Western leverage substantial matching funds.

"At BMO Financial Group, education is the prime focus of our community commitment. Today's announcement with Western, our longstanding partner, is yet another step in ensuring that Canadian students have access to the programs they need to compete in the 21st century," said Shane Butcher, Vice-President, BMO Bank of Montreal, London District. "We are pleased to be able to help these deserving students reach their goals at this very important stage of their education. We believe the prosperity of Canada is significantly enriched by the contributions of talented students who pursue graduate studies."

The remaining $300,000 of BMO's gift will be directed towards the Richard Ivey School of Business to support the following areas:

• The BMO Financial Group PhD Scholarship to recognize and support the academic achievement of Doctoral students at Ivey;
• The BMO Financial Group Faculty Fellowship to help recruit and support top faculty and foster excellence in teaching and research;
• The C.B. "Bud" Johnston Memorial Library to update the space and services.

"Ivey has had a long and supportive partnership with BMO," said Ivey Dean Carol Stephenson. "This generous gift will help ensure that Ivey continues to produce relevant business knowledge for practicing managers and future leaders who will continue to shape the way business is done in Canada and around the world."

The gift was made at the Celebrate 150 Breakfast, part of Western Wednesdays, a series of events held throughout May to celebrate Western's connection to the London community.

About BMO Financial Group's Commitment to Communities
Since 1817, BMO Financial Group has believed in community reinvestment and corporate and social responsibility to the communities it serves. BMO Financial Group contributed more than $29 million in corporate donations, sponsorships and events in 2004, supporting thousands of communities, charities and not-for-profit organizations in Canada. BMO has committed $9.8 million over the next 10 years to universities and colleges across the country.

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