News Releases

BMO Harris Investment Management Inc., the investment management arm of BMO Harris Private Banking, announced today that it is in negotiations to have three firms share the sub-advisory responsibilities for the BMO Harris International Equity Portfolio. It is anticipated that McKinley Capital Management, Inc., Thornburg Investment Management, Inc., and Pyrford International plc will replace The Boston Company Asset Management as sub-advisor to the Portfolio effective on or about February 1, 2008.

“With our expectations for non-North American equities to continue to perform well, we plan to allocate a larger portion of our client's assets to those markets,” said Paul Taylor, Chief Investment Officer for BMO Harris Private Banking. “As a result, we want to diversify our International Equity Portfolio's strategy across three sub-advisors, each with a distinct investment style and approach.”

The Portfolio's investment objective is to provide long term capital appreciation by investing in a diversified portfolio of equity securities of issuers throughout the world, outside Canada and the United States.

McKinley Capital Management, Inc. is a global growth specialist founded in 1990. Based out of Anchorage, Alaska, the firm manages over US$15 billion in assets. McKinley Capital follows a disciplined, systematic approach across all of their product strategies. As a bottom-up growth manager, the firm uses both a quantitative screening process and a qualitative overview to construct and manage equity portfolios.

Pyrford International plc is an international equity specialist based in London, England. It has consistently applied a fundamental value investment process, both top-down and bottom-up, since it was founded in 1987. It has approximately US$3 billion of assets under management and provides investment management services to a wide range of global clients such as corporate and government pension funds, charities, endowments, foundations and high-net-worth individuals. Pyrford is a wholly-owned subsidiary of BMO Financial Group.

Thornburg Investment Management, Inc., established in 1982, is an employee-owned investment management company. Based in Santa Fe, New Mexico, the firm manages more than US$50 billion in assets. Thornburg's philosophy to building equity portfolios is based on a process that looks to buy companies with sound fundamentals at a discount to intrinsic value.

About BMO Harris Private Banking

BMO Harris Private Banking serves the needs of high net worth clients and their families and helps them deal with a wide range of complex financial issues, providing comprehensive wealth management expertise. The bank's team of professionals is comprised of leading specialists in a variety of disciplines including banking, investment management, estate, trust and various family office services such as philanthropic and business succession planning.

BMO Harris Private Banking is part of BMO Financial Group's Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under administration and term investments of $275 billion as at October 31, 2007.

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