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BMO Harris Private Banking Receives Regulatory Approval for Changes to select BMO Harris Private Portfolios

TORONTO, July 31, 2009 – BMO Harris Investment Management Inc. (BMO Harris), the investment management arm of BMO Harris Private Banking, today announced that it has received regulatory approval to proceed with the proposed changes announced on June 24, 2009 to the BMO Harris Opportunity Bond Portfolio and the BMO Harris Income Opportunity Bond Portfolio, as part of an approach to refocus select investment strategies on BMO Harris' investment platform. BMO Harris delivers discretionary investment management solutions to high net worth individuals and families that include allocations to multiple assets classes, across geographies and investment styles.

As a result of obtaining regulatory approval, on or about the close of business on September 25, 2009:

  • BMO Harris Opportunity Bond Portfolio will merge into the BMO Harris Canadian Total Return Bond Portfolio, and holders of units of the BMO Harris Opportunity Bond Portfolio will receive units of the BMO Harris Canadian Total Return Bond Portfolio
  • BMO Harris Income Opportunity Bond Portfolio will merge into the BMO Harris Canadian Bond Income Portfolio and holders of units of the BMO Harris Income Opportunity Bond Portfolio will receive units of the BMO Harris Canadian Bond Income Portfolio.

Investor approval will not be required to effect these changes.

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 management and administration and term investments of $273 billion as at April 30, 2009.

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