News Releases

TORONTO, ONTARIO--(Marketwire - Nov. 14, 2012) - BMO Financial Group today announced the estimated 2012 annual reinvested distributions for BMO Exchange Traded Funds (ETFs)⁽¹⁾. These annual reinvested distributions generally represent realized capital gains within the ETFs⁽²⁾ or special dividends received by the ETFs and are paid to unitholders as required to ensure that the BMO ETFs are not liable for ordinary income tax.

Unitholders of record at close of business on December 28, 2012 will receive the 2012 annual reinvested distributions. The final year end distribution amounts, as well as the ongoing cash distribution amounts, will be announced on or about December 17, 2012. The actual taxable amounts, including the tax characteristics, will be reported in early 2013.

Please note that these are estimated annual reinvested distributions only and have been calculated based upon forward looking information⁽³⁾ as of October 31, 2012. If the forward looking information changes, the estimated annual reinvested distributions may also 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 estimated annual reinvested distribution amounts are as follows:

BMO ETF	Ticker	Estimated Reinvested Distribution ($)
BMO Short Federal Bond Index ETF	ZFS	0.000000
BMO Mid Federal Bond Index ETF	ZFM	0.036658
BMO Long Federal Bond Index ETF	ZFL	0.033551
BMO Short Provincial Bond Index ETF	ZPS	0.000000
BMO Short Corporate Bond Index ETF	ZCS	0.000000
BMO Mid Corporate Bond Index ETF	ZCM	0.037613
BMO Long Corporate Bond Index ETF	ZLC	0.021667
BMO Aggregate Bond Index ETF	ZAG	0.012172
BMO Real Return Bond Index ETF	ZRR	0.075475
BMO High Yield US Corporate Bond Hedged to CAD Index ETF	ZHY	0.009142
BMO Emerging Markets Bond Hedged to CAD Index ETF	ZEF	0.094862
BMO S&P/TSX Capped Composite Index ETF	ZCN	0.000000
BMO S&P/TSX Equal Weight Banks Index ETF	ZEB	0.013664
BMO S&P/TSX Equal Weight Oil & Gas Index ETF	ZEO	0.000000
BMO Equal Weight Utilities Index ETF	ZUT	0.000000
BMO Equal Weight REITs Index ETF	ZRE	0.000000
BMO Junior Gold Index ETF	ZJG	0.000000
BMO Junior Oil Index ETF	ZJO	0.000000
BMO Junior Gas Index ETF	ZJN	0.000000
BMO Dow Jones Industrial Average Hedged to CAD Index ETF	ZDJ	0.338103
BMO S&P 500 Hedged to CAD Index ETF	ZUE	0.664474
BMO Nasdaq 100 Equity Hedged to CAD Index ETF	ZQQ	0.682472
BMO Equal Weight US Health Care Hedged to CAD Index ETF	ZUH	0.777255
BMO Equal Weight US Banks Hedged to CAD Index ETF	ZUB	0.000000
BMO International Equity Hedged to CAD Index ETF	ZDM	0.000000
BMO Emerging Markets Equity Index ETF	ZEM	0.000000
BMO Global Infrastructure Index ETF	ZGI	0.168298
BMO China Equity Index ETF	ZCH	0.000000
BMO India Equity Index ETF	ZID	0.000000
BMO S&P/TSX Equal Weight Global Base Metals Hedged to CAD Index ETF	ZMT	0.000000
BMO Monthly Income ETF	ZMI	0.079853
BMO Energy Commodities Index ETF	ZCE	0.084136
BMO Agriculture Commodities Index ETF	ZCA	0.000000
BMO Precious Metals Commodities Index ETF	ZCP	1.212660
BMO Base Metals Commodities Index ETF	ZCB	0.000000
BMO 2013 Corporate Bond Target Maturity ETF	ZXA	0.000000
BMO 2015 Corporate Bond Target Maturity ETF	ZXB	0.025027
BMO 2020 Corporate Bond Target Maturity ETF	ZXC	0.100600
BMO 2025 Corporate Bond Target Maturity ETF	ZXD	0.089773
BMO Covered Call Canadian Banks ETF	ZWB	0.000000
BMO Covered Call Utilities ETF	ZWU	0.000000
BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF	ZWA	0.000000
BMO Canadian Dividend ETF	ZDV	0.065454
BMO Low Volatility Canadian Equity ETF	ZLB	0.088754

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

⁽¹⁾ BMO ETFs are managed and administered by BMO Asset Management Inc., an investment fund manager and portfolio manager and separate legal entity from the Bank of Montreal.

Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. Exchange Traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

⁽²⁾ Premium income as a result of covered call writing has been distributed monthly as a cash distribution.

⁽³⁾ 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; portfolio transactions; and subscription and redemption activity.

"S&P®", "S&P 500®" and "S&P/TSX Capped Composite™" are trade-marks of Standard and Poor's Financial Services LLC and "TSX" is a trade-mark of TSX Inc. These and other associated trade-marks and/or service marks have been licensed for use by BMO Asset Management Inc. None of the BMO ETFs are sponsored, endorsed, sold or promoted by any of its aforementioned trade-mark owners and the related index providers or their respective affiliates or their third party licensors and these entities make no representation, warranty or condition regarding the advisability of buying, selling or holding units in the BMO ETFs.

The Dow Jones Industrial Average^(SM) is a product of Dow Jones Indexes, a licensed trade-mark of CME Group Index Services LLC ("CME"), and has been licensed for use. "Dow Jones®" and "Dow Jones Industrial Average^(SM)" are service marks of Dow Jones Trademark Holdings, LLC ("Dow Jones") and have been licensed for use for certain purposes. BMO ETFs based on Dow Jones indexes are not sponsored, endorsed, sold or promoted by Dow Jones, CME or their respective affiliates and none of them makes any representation regarding the advisability of investing in such product(s).

Nasdaq®, OMX®, NASDAQ OMX®, Nasdaq-100®, and Nasdaq-100 Index®, are registered trademarks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by BMO Asset Management Inc. The BMO Nasdaq 100 Equity Hedged to CAD Index ETF has not been passed on by the Corporations as to its legality or suitability and is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO The BMO Nasdaq 100 Equity Hedged to CAD Index ETF.

About BMO Exchange Traded Funds (ETFs)

Established in May 2009, BMO Financial Group's ETF business is a leading ETF provider in Canada. Since its inception, the lineup of BMO ETFs has grown to 48 funds and includes several industry firsts. BMO ETFs provide Canadian investors with broader choices and greater access to an innovative portfolio of investment products.

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 $542 billion as at July 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.