News Releases

BMO Bank of Montreal Decreases Mortgage Rates and Introduces Three New Special Offers

TORONTO, February 11, 2010 - BMO Bank of Montreal announced today it is decreasing its residential mortgage rates, effective February 12, 2010.

"We are heading into one of the busiest periods for homebuyers and it's important for our customers to be prepared when they make their financial decisions," said Jane Yuen, Senior Manager for Mortgages, BMO Bank of Montreal. "A good first step is to stress-test your budget so you know what you can afford and look for ways to save on interest costs, such as choosing a shorter amortization and making prepayments."

The new rates are:

Variable rates:	To:	Change:
3 year open	3.05%	N/C
5 year closed	2.15%	-0.10%
Homeowner ReadiLine 5 year variable rate closed	2.15%	-0.10%

Variable rates:

To:

Change:

3 year open

3.05%

N/C

5 year closed

2.15%

-0.10%

Homeowner ReadiLine

5 year variable rate closed

2.15%

-0.10%

The Canadian housing market continues to thrive this year and is expected to be strong and healthy throughout 2010. In addition to the above rate changes, BMO is pleased to offer the following competitive special rates.

Special Offers*

Introducing New Special Offers:

4 year(fixed/closed	3.99%	NEW
7 year(fixed/closed)	5.20%	NEW
10 year(fixed/closed)	5.35%	NEW
5 year (fixed/closed)	4.09%	N/C

(The interest on fixed-rate mortgages compounds semi-annually, not in advance.)

*This special discounted rate is not the posted rate of BMO Bank of Montreal. Rate is subject to change without notice. Offer may be withdrawn or extended without notice. Mortgage funds must be advanced within 90 days of the application.

For further information:

Media Contact:

Martha McInnis, (416) 867-3996, martha.mcinnis@bmo.com