News Releases

TORONTO, October 9, 2009 – Guardian Group of Funds Ltd. announced today that the distribution policy of both BMO Guardian Monthly High Income Fund and BMO Guardian Monthly High Income Fund II will change and that the maximum annual service fee rates will change for BMO Guardian Monthly High Income Fund.

Guardian Group of Funds Ltd. will change the current distribution from a fixed rate of $0.06 per unit per month for each of BMO Guardian Monthly High Income Fund and BMO Guardian Monthly High Income Fund II, effective January 2010. Instead for each fund, the monthly distribution will be fixed at the beginning of each calendar year based on the market outlook. The projected distribution rates for 2010 will be $0.035 per unit per month for BMO Guardian Monthly High Income Fund and will remain at $0.06 per unit per month for BMO Guardian Monthly High Income II. Also effective January 4, 2010, the maximum annual service fee rates will be increased for some classes and purchase options of BMO Guardian Monthly High Income Fund.

Along with the above changes, the Manager intends to launch T5 Class units of each fund and will change the name of BMO Guardian Monthly High Income Fund to BMO Guardian Growth & Income Fund.

About BMO Guardian Funds
BMO Guardian Funds is a diversified family of funds and includes a broad range of domestic and global investment options covering a full array of asset classes, sectors, regions and specialized mandates. BMO Guardian Funds are currently offered by Guardian Group of Funds Ltd. and/or BMO Investments Inc., which are members of BMO Financial Group and part of the organization's Private Client Group.