News Releases

TORONTO, ONTARIO--(Marketwired - Jan. 3, 2014) - BMO Asset Management Inc. ("BMO AM") today announced that, effective as of close of business today, BMO 2013 Corporate Bond Target Maturity ETF ("ZXA") is continuing its operations as an exchange traded short-term bond fund as originally provided for in its prospectus. This enables investors to continue to hold their existing units as well as provides the opportunity for investors to purchase and sell units at their discretion instead of at a set termination date.

In addition to the above, BMO AM confirms that the following changes (collectively, the "Changes") are effective as of close of business today:

• The name of ZXA is now BMO Ultra Short-Term Bond ETF ("ZST");
• The ticker symbol is ZST;
• The portfolio holdings of ZST focus on Canadian government and corporate bonds with a term of one year or less;
• The portfolio holdings of ZST may also include high yield bonds with a term of one year or less, and floating rate investments and preferred shares with less than a year to reset;
• The management fee is 15 bps; and
• The units of ZST are being consolidated on a one-for-four basis, which is expected to reduce trading costs.

"The Changes will give investors a convenient vehicle to position portfolios around volatile interest rates," said Kevin Gopaul, Senior Vice President and Chief Investment Officer, BMO AM. "The focus of the portfolio is on Canadian investment grade credit, and the additional asset classes within BMO Ultra Short-Term Bond ETF are expected to enhance the overall yield while lowering the ETF's sensitivity to interest rate risk. Additionally, the unit consolidation should make ZST even more appealing by making it more cost efficient to trade."

Units of ZST will begin trading on the Toronto Stock Exchange, under the new ticker symbol and on a consolidated basis, on or about January 6, 2014.

Further information about ZST can be found at www.bmo.com/etfs.

The BMO Exchange Traded Funds are managed and administered by BMO AM, an investment fund manager and portfolio manager and a separate legal entity from 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.

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 $537 billion as at October 31, 2013, and more than 45,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.