News Releases

BMO's Foreign Exchange Group Recognized as #1 for FX Capabilities:

• 2010 – Best FX Bank in Canada & North America by European CEO Magazine
• 2009 – Best FX Bank in Canada by European CEO Magazine

TORONTO, NEW YORK, CHICAGO, October 15, 2010 – BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (TSX, NYSE: BMO), has been named the “Best Foreign Exchange [FX] Bank, Canada & North America” by European CEO Magazine (October/November 2010 issue).

Last year, BMO Capital Markets was voted Best FX Bank in Canada by CEO Magazine. “We are pleased to award this expanded title to BMO Capital Markets in 2010,” said Hel�ne Scholl, Editor European CEO. “The Judges were very impressed with BMO Capital Markets as they continue to hold an extremely strong position in the Canadian-dollar foreign exchange market.”

European CEO's criteria for choosing the winners included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. "The sovereign debt crisis in Europe and renewed concerns about the global economic outlook, are once again putting the banking community in the spotlight. Corporations around the world need to select a strong, knowledgeable FX bank to help them cope with the turbulence in the markets," says Ms. Scholl.

“The 2010 award, which now includes all of North America, truly underscores BMO's commitment to our continued expansion into global FX markets.” said Jamie Thorsen, Global Head of Foreign Exchange Products, BMO Capital Markets.

BMO trades 60 currencies and operates in 11 cities from New York to Guangzhou. “There are banks in the FX market with 50 or 60 operations globally. It can be difficult to compete with that scale,” said Ms. Thorsen. “However, BMO's targeted approach focuses on supporting the evolving global needs of our North American clients. For example, we have a long standing Asian shift, located in Chicago that coordinates with our trading room in China”

This year's recognition is one of several awards that BMO Capital Markets has received for its overall excellence in foreign exchange. Earlier this year, BMO Capital Markets was awarded “Most Improved Overall Market Share by Volume” and “Most Improved Market Share by Size over US$250 billion” by Euromoney Magazine. Additionally, BMO Capital Markets was named “Most Popular Market Maker in China” by the China Foreign Exchange Trade System (CFETS), as well as “Best non-USD Market Maker” for the third year running. In 2009 they were chosen as the Best Bank for the Canadian Dollar by FX Week Magazine.

About BMO Capital Markets Foreign Exchange

BMO's Foreign Exchange Group holds a dominant position in the Canadian-dollar foreign exchange market and is top-ranked by large hedge and pension funds for institutional liquidity and pricing capacity. BMO trades in all major and other exotic currencies – 60 tradable currencies and exotics and over 100 currency pairs.

The group offers clients a wide range of capabilities, including:

• Canadian-dollar market making
• North American hedging
• Chinese transactions
• 40 tradable currencies and exotics, 100 currency pairs
• A 24-hour trading desk
• Structured risk-management solutions, including derivatives, swaps and options
• Options seminars
• Real-time order monitoring and quotes through its leading web-based platforms

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 over 2,000 employees operating in 26 locations around the world, including 14 in North America.

Website: http://www.bmocm.com

Twitter: http://twitter.com/bmocm

About European CEO Magazine

With award-winning journalists reporting to our headquarters in London, we provide the numbers, detailed analysis, strategy and guidance needed to make qualified business decisions in Europe's diverse marketplace.

Reaching the desks of more than 50,000 Chief Executive Officers and decision making executives who serve on the boards of Europe's leading companies, the magazine reaches highly affluent executives at their homes as well as their primary businesses; it isn't just marketed to the company they serve. The result is a targeted, topical coverage addressing the corporate needs of European business leaders.

www.europeanceo.com

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Media Contacts:

Kim Hanson, Toronto, kim.hanson@bmo.com, (416) 867-3996

Holly Holt, New York, holly.holt@bmo.com, (212) 885-4153

Patrick O'Herlihy, patrick.o'herlihy@bmo.com, (312) 461-6970
European CEO: enquiries@europeanceo.com , Tel: 44 (0) 20 7014 0355