News Releases

TORONTO, September 13, 2010 – BMO Investments Inc. received securityholder approval to proceed with the changes initially announced on August 3, 2010 to BMO Equity Index Fund, BMO International Index Fund and BMO U.S. Equity Index Fund (collectively, the "Funds").

These changes have been proposed as part of BMO's ongoing commitment to provide investors with a wide variety of investment products as well as the ability to purchase those products through their preferred distribution channel.

"Exchange-traded funds (ETFs) continue to be of interest to investors because they offer a new and innovative way to invest," said Hugh McKee, Co-President, BMO Investments Inc. "However, the requirement to purchase ETFs through a brokerage account has been a roadblock for some time, and with these changes BMO now provides customers greater accessibility."

These Funds will now give investors access to some of the benefits that a pure ETF can provide, such as participation in an investment that tracks a defined, passively managed index. It is also expected that the changes will result in lower transaction costs and improved overall performance of the Funds. Furthermore, by reducing the number of portfolio transactions the tax impact for non-registered investors should be reduced.

The following is a summary of the approved changes.

BMO Equity Index Fund

As of close of business on September 17, 2010, the investment objectives of BMO Equity Index Fund will change to allow the fund to provide a return that is similar to the return of one or more exchange-traded funds that invest primarily in Canadian equities. The fund will invest all or a portion of its assets in one or more exchange-traded funds, invest directly in the underlying securities held by the exchange-traded funds and/or use derivatives to provide the fund with a return determined by reference to the exchange-traded funds. The investment strategies for this fund will also be revised to reflect the new objectives. In addition, the fund's name will change to "BMO Canadian Equity ETF Fund".

BMO International Index Fund

As of close of business on September 17, 2010, the investment objectives of BMO International Index Fund will change to allow the fund to provide a return that is similar to the return of one or more exchange-traded funds that invest primarily in international equities. The fund will invest all or a portion of its assets in one or more exchange-traded funds, invest directly in the underlying securities held by the exchange-traded funds and/or use derivatives to provide the fund with a return determined by reference to the exchange-traded funds. The investment strategies for this fund will also be revised to reflect the new objectives. In addition, the portfolio manager of the fund will change from State Street Global Advisors, Ltd. to BMO Asset Management Inc. and the fund's name will change to "BMO International Equity ETF Fund".

BMO U.S. Equity Index Fund

As of close of business on September 17, 2010, the investment objectives of BMO U.S. Equity Index Fund will change to allow the fund to provide a return that is similar to the return of one or more exchange-traded funds that invest primarily in U.S. equities. The fund will invest all or a portion of its assets in one or more exchange-traded funds, invest directly in the underlying securities held by the exchange-traded funds and/or use derivatives to provide the fund with a return determined by reference to the exchange-traded funds. The investment strategies for this fund will also be revised to reflect the new objectives. In addition, the portfolio manager of the fund will change from Harris Investment Management, Inc. to BMO Asset Management Inc. and the fund's name will change to "BMO U.S. Equity ETF Fund".

Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

About BMO Investments Inc.

BMO Investments Inc. is a member of BMO Financial Group and part of the organization'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 of $251 billion as at July 31, 2010.