News Releases

BMO Investments Inc., the manager of BMO Mutual Funds, today announced it will pay the majority of operating expenses for its Funds, in return for a fixed administration fee. This change will provide investors with greater certainty with respect to each Fund's management expense ratio (MER), which will become more transparent and predictable. MERs for all Funds will either decrease or remain neutral, compared to MERs in 2006. These changes will be effective December 1, 2007.

“By replacing operating expenses with a fixed administration fee, the MER for each BMO Fund will become more stable and provide unitholders with clear pricing and greater certainty about the cost of investing in a BMO Mutual Fund,” said Ed Legzdins, President and CEO, BMO Investments Inc.

The Funds have an Independent Review Committee (the “IRC”) that provides independent oversight and advice to the manager. BMO Investments Inc. referred this change to the IRC for its review and input as required by securities regulation. The IRC was of the opinion that the proposed change will achieve a fair and reasonable result for the Funds and provided a positive recommendation to BMO Investments Inc.

Unitholders will be notified in writing during the fourth week of September, as required by securities regulations. The proposed rate of the annual administration fee for each Fund is set out below.

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 $277.19 billion as at July 31, 2007.

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