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      Bank of Montreal Announces Changes to Diversified Trust

      TORONTO, ONTARIO--(Marketwire - March 21, 2012) - Bank of Montreal (the "Bank") today announced that Diversified Trust, a Bank securitization vehicle, no longer intends to issue asset-backed commercial paper ("ABCP") maturing past June 15, 2012. The Bank's on-going funding through Summit Trust, another Bank securitization vehicle, and its commitment to the multi-seller ABCP Trusts, administered by BMO Nesbitt Burns Inc., are unaffected by today's announcement.

      For further information:
      For News Media Enquiries:
      Ralph Marranca, Toronto
      (416) 867-3996
      ralph.marranca@bmo.com

      Ronald Monet, Montreal
      (514) 877-1873
      ronald.monet@bmo.com

      For Investor Relations Enquiries:
      Michael Chase, Toronto
      (416) 867-5452
      michael.chase@bmo.com

      Andrew Chin, Toronto
      (416) 867-7019
      andrew.chin@bmo.com
      www.bmo.com