News Releases

• BMO opens Hong Kong Foreign Exchange office
• BMO expands Financial Products & Debt Products offerings and hires team
• Increased client demand for specialized capital markets expertise in the Far East drives expansion
• New heads of Foreign Exchange, Financial Products and Debt Products appointed in Asia

HONG KONG and TORONTO, April 13, 2011 - BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (NYSE, TSX: BMO), is bolstering its capital markets presence in the Pan Asian market with the opening of a foreign exchange office in Hong Kong.

In addition, BMO is expanding its financial products and debt products capabilities in Hong Kong. A team of sales and trading specialists have been hired to support the firm’s latest growth efforts, doubling the size of the Hong Kong office.

“We’ve been building relationships in China, for almost as long as the bank has been in business. Bolstering our service capabilities in the Asian market is a key part of our growth strategy that will deliver a significant contribution to BMO over time,” said Jamie Thorsen, Executive Managing Director & Head of Foreign Exchange and China Capital Markets, BMO Capital Markets.

BMO’s foreign exchange practice will be run by Jolway Li, who has been appointed Head of FX Asia (ex-China). Mr. Li brings almost 20 years of FX experience to his new role, including 13 years in BMO’s Chicago office. He will be responsible for growing the foreign exchange business in Hong Kong and serving clients with Pan Asian interests outside of mainland China. BMO Capital Markets currently provides foreign exchange services in China through its office in Guangzhou, Shanghai and Beijing.

“Our Hong Kong launch marks another significant milestone in the expansion of our business, as it supports our strategic priority to maintain our position as a leading provider of Canadian dollar foreign exchange products globally,” said Ms. Thorsen. “Our foreign exchange presence in Hong Kong gives us a clear advantage in growing our existing business and capitalizing on the tremendous growth potential of the Pan Asian market.”

Robert Yeung is appointed Managing Director of Financial Products and Debt Products coverage for Asia. Mr. Yeung will be responsible for growing BMO’s global platform in financial products and debt products. This includes both cash, interest rate and cross-asset derivative and structured products. Mr. Yeung joined BMO four years ago and has more than 15 years experience in capital markets. He will be supported in Hong Kong by a team of experts in sales and trading for debt and financial products.

“Having Rob and his team on the ground in Hong Kong will make it easier for us to deliver financial products and debt products solutions across our various lines of business for the benefit of our corporate, institutional and wealth management clients in Asia, as well as elsewhere in the world,” said Luke Seabrook, Executive Managing Director and Head of Financial Products, BMO Capital Markets.

“Moreover, as our business grows, we plan to create and develop products specific to the Asian market that will provide a differentiating advantage for our clients in Canada, the U.S. and Europe,” added Charlie Piermarini, Executive Managing Director and Head of Debt Products, BMO Capital Markets.

About BMO in China
BMO Financial Group is the only Canadian bank incorporated in China, with branches in Beijing, Guangzhou, Shanghai and Hong Kong. It is the only foreign financial institution headquartered in Beijing. BMO also has a representative office in Taipei, Taiwan and an Investment Banking representative office in Beijing.

In September 2010, BMO officially opened its new incorporated subsidiary, Bank of Montreal (China) Co. Ltd. (BMO ChinaCo), allowing the bank the flexibility to expand its product and service offerings for North American and Chinese clients. In addition, earlier this year, BMO became the first Canadian bank to offer North American commercial clients the ability to make payments directly to Chinese companies in the Chinese Yuan (CNY).

A History of Excellence
BMO’s Foreign Exchange Group is a recognized leader in Canadian Dollar foreign exchange. The group has consistently won several global awards for its capabilities. Most recently, BMO was named the Best Forex Provider, North America by Global Banking & Finance Review; Best FX Bank North America by DealMaker’s Monthly survey and Top 20 FX Bank Globally by FX Week Magazine. In China, for the fourth year in a row, BMO was named one of the Most Popular Market Makers in China and the Best Non-U.S. Dollar Market Maker by the China Foreign Exchange Trade System (CFETS).

About BMO Capital Markets
BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with CDN$413 billion total assets and 38,000 employees as at January 31, 2011.

Website: http://www.bmocm.com
Twitter: http://twitter.com/bmocm

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