News Releases

BMO Investments Inc. today announced proposed changes to the BMO NAFTA Advantage Fund, BMO Global Bond Fund and BMO U.S. Dollar Bond Fund to be effective on or about May 5, 2006. 

BMO NAFTA Advantage Fund

Subject to unitholder approval, BMO NAFTA Advantage Fund's investment objectives will be changed to allow the Fund to invest primarily in dividend-yielding common and preferred shares of North American companies. Currently, the fund invests primarily in companies that expect to benefit from the North American Free Trade Agreement.

If the change to this fund's investment objectives is approved, the investment strategies for this fund will be revised to reflect the new objectives. In particular, the reference to investing at least 20 per cent of the fund's assets in each of Canada, the U.S. and Mexico will be removed.  State Street Global Advisors, Ltd., which is currently responsible for providing portfolio management services for the Mexican portion of the portfolio, will no longer provide portfolio management services to the fund. This fund will aim to invest approximately 75 per cent of its assets in North American equities, excluding Canada, and 25 per cent in Canadian equities. The fund's name will also be changed to “BMO North American Dividend Fund” to reflect the changes. A meeting of unitholders of this fund will be held on or about April 19, 2006.   

BMO Global Bond Fund

Subject to unitholder approval, BMO Global Bond Fund's investment objectives will be revised to allow the fund to invest primarily in debt instruments issued by governments and corporations from around the world.  Currently, the fund invests in high-quality bonds and debentures denominated in foreign currencies and issued by Canadian governments and their agencies, corporations, international agencies, like the World Bank, supranational agencies or federal governments which meet or exceed certain minimum credit ratings. 

If this change to the investment objectives is approved, the investment strategies will also be revised to allow this fund to invest in debt instruments that may have credit ratings that are lower than investment grade, as determined by bond rating services such as Standard & Poors Rating Agency. The fund's name will also be changed to “BMO Global High Yield Bond Fund” to reflect the changes. A meeting of unitholders of this fund will be held on or about May 3, 2006.  

BMO U.S. Dollar Bond Fund

Subject to unitholder and regulatory approval, BMO U.S. Dollar Bond Fund will be merged into BMO U.S. Dollar Monthly Income Fund. As a result of this merger, unitholders of BMO U.S. Dollar Bond Fund will have the potential to achieve greater portfolio diversification by investing in a larger fund with broader investment objectives.  The investment objectives of BMO U.S. Dollar Monthly Income Fund is to provide a fixed monthly distribution by investing primarily in U.S. equities and U.S. fixed income securities.   A meeting of unitholders of U.S. Dollar Bond Fund will be held on or about April 19, 2006.

About BMO Investments Inc.

BMO Investments Inc. is a member of the 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 had total assets under management and administration and term investments of $271.1 billion as at January 31, 2006.

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