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Student scholarships at the University of Saskatchewan received a significant boost today with the announcement of a $500,000 donation from BMO Financial Group.

BMO's donation will establish the BMO Financial Group Scholarship Program providing a $16,000 scholarship over four years to one undergraduate student annually.

The donation, to the University's Thinking the World of our Future campaign, was presented by Ken Segboer, BMO Bank of Montreal Vice President Saskatchewan, during celebrations to mark the 100^th Anniversary of the bank's Saskatoon main branch.

“Our donation to the University of Saskatchewan is further proof of our commitment to supporting and strengthening higher learning in Saskatchewan and across the country,” said Mr. Segboer. We believe that our financial support will help the University to continue to attract the very best scholars, maintaining its reputation for excellence in higher education.”

“This magnificent gift will go a very long way to ensure that undergraduate students are strongly supported throughout their studies,” said Heather Magotiaux, Vice President University Advancement. “Our ability to offer scholarships also enhances accessibility to the University and will have a significant impact on our ability to attract and retain high-calibre students.”

Since its founding in 1817 as Bank of Montreal, BMO Financial Group has supported the principles of community reinvestment and corporate and social responsibility to the communities it serves. In 2005, BMO Financial Group contributed $29.5 million in corporate donations, sponsorships and events in Canada, supporting thousands of communities, charities and not-for-profit organizations across the country. BMO was also named Canada's Best Corporate Citizen for 2005 by Corporate Knights. BMO Bank of Montreal has 29 branches, two northern outlets and more than 350 employees in Saskatchewan.

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