News Releases

TORONTO, ONTARIO--(Marketwired - May 21, 2013) - BMO Investments Inc. (BMOII) today announced changes to portfolio managers and investment strategies, as well as proposed changes to investment objectives.

Portfolio Manager Changes

BMO Asset Management Inc. (BMOAM) will replace Lazard Asset Management (Canada) Inc., the current portfolio manager of BMO Global Absolute Return Fund, and Global Alpha Capital Management Ltd., the current portfolio manager of BMO Global Small Cap Fund, and will assume all portfolio management duties in relation to both funds. The investment strategies of each fund will be changed to reflect the investment style of BMOAM. These changes will be effective on or about July 12, 2013.

In addition, effective on or about July 26, 2013, Barrantagh Investment Management Inc. will no longer act as portfolio manager for any portion of BMO Canadian Diversified Monthly Income Fund and BMO Global Diversified Fund. Similarly, Lazard Asset Management (Canada) Inc. will no longer act as portfolio manager for any portion of BMO Global Diversified Fund. There will be no changes to either fund's investment objectives or strategies as a result of these portfolio manager changes.

Proposed Changes to Investment Objectives

Subject to obtaining all necessary unitholder and regulatory approvals, BMOII is proposing to change the investment objectives of three BMO mutual funds (the Funds) as follows:

The details of these proposals will be provided to investors of the Funds in an information circular and proxy package that will be mailed to unitholders of record in late June 2013. Pending investor approval at special unitholder meetings, scheduled for July 2013 in Toronto, the proposed changes will take effect in July 2013.

If the above amendments to the investment objectives are approved by the Funds' unitholders, the investment strategies of each Fund will be revised to reflect the new investment objectives. In addition, BMOAM will replace BMO Asset Management Corp. (BMO AM Corp.) as portfolio manager of BMO U.S. Dollar Equity Index Fund and Guardian Capital LP will replace BMO AM Corp. as portfolio manager of BMO Global Science and Technology Fund. The names of BMO U.S. Dollar Equity Index Fund and BMO Global Science and Technology Fund will also be changed.

Changes to Investment Strategies

Effective May 31, 2013, the investment strategies of BMO Bond Fund will change in order to allow greater flexibility to invest in fixed-income securities issued by corporations, BBB rated fixed-income securities and non-investment grade fixed-income securities. These changes will provide the portfolio manager of the fund with a better opportunity to maximize performance.

For more information on BMO Mutual Funds, please visit www.bmo.com/mutualfunds.

About BMO Investments Inc.

BMO Investments Inc. is a member of BMO Financial Group and part of the organization's Private Client Group ("PCG"). PCG, BMO's group of wealth management businesses, serves a full range of client segments from mainstream to ultra-high net worth and institutional, with a broad offering of wealth management products and solutions including insurance products. PCG operates in both Canada and the United States, as well as in Asia and Europe and had total assets under management and administration of $479 billion as at January 31, 2013.

About BMO Asset Management Inc.

BMO Asset Management Inc. is a Canadian institutional money manager with over $40 billion in total assets under management. Clients include pensions, endowments, trusts, insurance company reserves, corporate surpluses and mutual funds. Its approach to investing draws upon the entire resources of a stable, experienced management team whose philosophy is based on creating wealth while diversifying portfolio risk. BMO Asset Management Inc. is also a member of BMO Financial Group.