News Releases

BMO Financial Group Announces Estimated Annual Reinvested Distributions for BMO Exchange Traded Funds

TORONTO, November 22, 2010 – BMO Financial Group announced today the estimated 2010 annual reinvested distributions for BMO Exchange Traded Funds (ETFs)*. These annual reinvested distributions generally represent realized capital gains within the ETFs or special dividends received by the ETFs.

Unitholders of record at close of business on December 30, 2010 will receive the 2010 reinvested distributions. The final year-end distribution amounts, as well as the ongoing cash distribution amounts, will be announced on or about December 17, 2010. The actual taxable amounts, including the tax characteristics, will be reported in early 2011.

Please note that these are estimated amounts only as of November 10, 2010 and include forward looking information** which may cause the estimate to change. These estimates are for the annual reinvested distributions only, and do not include estimates of ongoing cash distribution amounts.

Details of the per unit reinvested distribution amounts are as follows:

BMO ETF	Ticker	Estimated Reinvested Distribution ($)
BMO Short Federal Bond Index ETF	ZFS	0
BMO Mid Federal Bond Index ETF	ZFM	0.014321
BMO Long Federal Bond Index ETF	ZFL	0.033895
BMO Short Provincial Bond Index ETF	ZPS	0
BMO Short Corporate Bond Index ETF	ZCS	0
BMO Mid Corporate Bond Index ETF	ZCM	0.005226
BMO Long Corporate Bond Index ETF	ZLC	0.005511
BMO Aggregate Bond Index ETF	ZAG	0.006854
BMO Real Return Bond Index ETF	ZRR	0.001502
BMO High Yield US Corporate Bond Hedged to CAD Index ETF	ZHY	0.402412
BMO Emerging Markets Bond Hedged to CAD Index ETF	ZEF	0.412002
BMO Dow Jones Canada Titans 60 Index ETF	ZCN	0
BMO S&P/TSX Equal Weight Banks Index ETF	ZEB	0.028895
BMO S&P/TSX Equal Weight Oil & Gas Index ETF	ZEO	0.068781
BMO Equal Weight Utilities Index ETF	ZUT	0.015239
BMO Equal Weight REITs Index ETF	ZRE	0.010643
BMO Junior Gold Index ETF	ZJG	0.021412
BMO Junior Oil Index ETF	ZJO	0.312266
BMO Junior Gas Index ETF	ZJN	0.090606
BMO Dow Jones Industrial Average Hedged to CAD Index ETF	ZDJ	0.359309
BMO US Equity Hedged to CAD Index ETF	ZUE	0.287205
BMO Nasdaq 100 Equity Hedged to CAD Index ETF	ZQQ	0
BMO Equal Weight US Health Care Hedged to CAD Index ETF	ZUH	0.397640
BMO Equal Weight US Banks Hedged to CAD Index ETF	ZUB	0.236901
BMO International Equity Hedged to CAD Index ETF	ZDM	0
BMO Emerging Markets Equity Index ETF	ZEM	0
BMO Global Infrastructure Index ETF	ZGI	0.099466
BMO China Equity Hedged to CAD Index ETF	ZCH	0
BMO India Equity Hedged to CAD Index ETF	ZID	0
BMO S&P/TSX Equal Weight Global Base Metals Hedged to CAD Index ETF	ZMT	0.344224

Further information about BMO ETF Products can be found at www.bmo.com/etfs.

*BMO ETFs are managed and administered by BMO Asset Management Inc., a wholly-owned indirect subsidiary of Bank of Montreal.

**Forward-looking information:

This notice contains forward-looking statements with respect to the estimated annual distributions for the ETFs. By their nature, these forward-looking statements involve risks and uncertainties that could cause the actual distributions to differ materially from those contemplated by the forward-looking statements. Material factors that could cause the actual distributions to differ from the estimated distributions include, but are not limited to: the actual amounts of distributions received by the ETFs; and subscription and redemption activity.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $397 billion as at July 31, 2010, and more than 37,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

The “Dow Jones”-branded indexes underlying BMO's ETFs are products of Dow Jones Indexes, the marketing name and a licensed trademark of CME Group Index Services LLC ("CME"), and have been licensed for use. The Dow Jones Brookfield Global Infrastructure Index^SM is published by Dow Jones Indexes pursuant to an agreement between CME Indexes and Brookfield Asset Management Inc. (“Brookfield”), and has been licensed for use. “Dow Jones,” “Dow Jones Industrial Average”, "Dow Jones Indexes", “Brookfield”, and “Dow Jones Brookfield Global Infrastructure Index” are service marks of Dow Jones Trademark Holdings, LLC ("Dow Jones") and/or or Brookfield or its affiliates, as the case may be, have been licensed to CME Group Index Services LLC ("CME") and sublicensed for use by BMO Asset Management Inc. (“BMO”). “Titans” is a service mark of CME and has been licensed for use by BMO. The BMO ETFs based on CME's indexes are not sponsored, endorsed, sold or promoted by CME, Dow Jones, Brookfield or their respective affiliates and CME, Dow Jones, Brookfield and their respective affiliates make no representation regarding the advisability of investing in such ETFs.

Standard & Poor's^� and S&P^� are registered trademarks of Standard & Poor's Financial Services LLC (“S&P”) and TSX is a trademark of Toronto Stock Exchange (“TSX”). These trademarks have been licensed for use by Bank of Montreal. The BMO ETFs are not sponsored, endorsed, sold or promoted by S&P or TSX, and S&P and TSX make no representation, warranty or condition regarding the advisability of buying, selling or holding units of the BMO ETFs.

Nasdaq^� is a registered trademark of The NASDAQ OMX Group, Inc. and has been licensed for use by BMO Asset Management Inc. for certain purposes. The BMO ETF based on the Nasdaq index is not issued, endorsed, sold or promoted by Nasdaq. NASDAQ MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE BMO ETF.

- 30 -

Media Contacts:

Martha McInnis, Toronto, martha.mcinnis@bmo.com, (416) 867-3996
Sarah Bensadoun, Montreal, sarah.bensadoun@bmo.com, (514) 877-8224
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596