News Releases

BMO Financial Group (TSX, NYSE: BMO) and its U.S. subsidiary, Harris, today announced they have received all required U.S. regulatory and shareholder approvals and expect to close the acquisitions of Ozaukee Bank and Merchants and Manufacturers Bancorporation, Inc., later this month.

Harris and BMO announced, in July 2007, a definitive agreement for BMO to purchase Ozaukee Bank, a community bank with six full-service and two limited-service locations in the northern part of the greater Milwaukee area.

Additionally, Harris and BMO announced a definitive agreement to purchase Merchants and Manufacturers (OTC: MMBI). Also headquartered in the Milwaukee area, Merchants and Manufacturers operates 34 full-service and 11 limited-service locations in an area concentrated in Milwaukee, and extending into Green Bay to the north and LaCrosse to the west.

"Milwaukee is an attractive market for Harris, with median household income and projected household income growth higher than the U.S. national average,” said Bill Downe, Chief Executive Officer, BMO Financial Group. “When you add to that the commitment to customer service and community involvement Harris shares with Ozaukee and Merchants and Manufacturers, we believe we have significant potential to grow our market share and further enhance both banks' customer experiences by adding the full breadth of personal, business and wealth management services that Harris' customers in the Chicago-area market have enjoyed for 125 years."

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release includes forward-looking statements that are intended to be covered by the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. These forward-looking statements include but are not limited to comments with respect to the objectives and strategies, financial condition, results of operations and businesses of Bank of Montreal, Ozaukee Bank and Merchants and Manufacturers.

However, by their nature these forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions and other forward-looking statements will not be achieved. Bank of Montreal cautions readers of this news release not to place undue reliance on these forward-looking statements as a number of important factors could cause actual future results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements.

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