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BMO Capital Markets Equity Research Announces New Hires, Expanding in the Consumer and Metals & Mining Sectors

NEW YORK & TORONTO, May 1, 2009 – BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (NYSE, TSX: BMO), has hired John D. Morris as a Senior Equity Analyst on the firm's Consumer Equity Research team and Andrew Kaip as a Senior Equity Analyst on its Metals & Mining Equity Research team.

“Our expansion in both Consumer and Metals & Mining underscores our commitment to our well-established strategy of providing our clients with relevant and actionable investment ideas from smart analysts like John Morris and Andrew Kaip,” said Jack Blackstock, Co-Head of Equity Research, BMO Capital Markets.

Paul Campbell, Co-Head, Equity Research, BMO Capital Markets added, “Both Mr. Morris and Mr. Kaip contribute to BMO's research strength through the great value of their experience, with John as a respected Wall Street veteran and industry expert and Andrew as an established geologist and insightful analyst.”

John D. Morris

Based in New York, John will follow Retail Apparel companies as part of the firm's Consumer coverage. John returns to BMO from Wachovia Securities, where he led the firm's apparel retail efforts since 2006. Prior to that, John was the senior retail apparel analyst for BMO Capital Markets and its predecessor firm Gerard Klauer Mattison.

With more than 15 years of experience covering the specialty apparel sector of the retail industry, John has been highly ranked in numerous analyst surveys, including The Wall Street Journal's “Best on The Street” on three separate occasions. During his earlier tenure at BMO Capital Markets, John created a proprietary research product named the Sale Rack Index, which tracks promotional trends among apparel retailers and uses focus groups to conduct research with consumers. John will continue this approach as part of his forthcoming research. John earned his BA from Stanford University and his MBA from the Amos Tuck School at Dartmouth College.

Andrew Kaip

Based in Toronto, Andrew Kaip joins the BMO Capital Markets Global Metals & Mining Equity Research team of ten analysts, collectively targeting coverage of more than 120 public companies. For the past five years, Andrew worked as a mining analyst at Haywood Securities, most recently covering gold and silver junior exploration and mining companies. Prior to that, he served as a project and consulting geologist for more than 10 years. Andrew received his B. S. In Geology from Carleton University and his M. S. in Economic Geology from the University of British Columbia and is a Professional Geologist.

About the BMO Capital Markets Equity Research Group

With more than 70 research analysts, BMO Capital Markets Equity Research now covers more than 900 companies in industries that include Business Services; Capital Goods; Consumer & Leisure; Energy, Utilities & Power; Financial Institutions & REITs; Food & Agribusiness; Healthcare; Media & Entertainment; Metals & Mining; and Technology & Telecommunications. A complete list of the firm's U.S. and Canadian equity analyst team and coverage universe can be viewed at: www.bmocm.com/research/equities.

About BMO Capital Markets

BMO Capital Markets is a leading, full-service North American financial services provider offering equity and debt underwriting, corporate lending and project financing, merger and acquisitions advisory services, merchant banking, securitization, treasury management, market risk management, debt and equity research and institutional sales and trading. BMO Capital Markets has offices in 26 locations around the world, including 14 in North America.

BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with US$361 billion total assets and 37,000 employees as at January 31, 2009.

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