Ms. Rachael McKay of BMO reports

BMO INVESTMENTS INC. ANNOUNCES CHANGES TO INVESTMENT STRATEGIES

Bank of Montreal's BMO Investments Inc. has made changes to the investment strategies of BMO Canadian Equity ETF Fund and BMO U.S. Equity ETF Fund.

Each of BMO Canadian Equity ETF Fund and BMO U.S. Equity ETF Fund invests up to 100 per cent of its assets in securities of an underlying exchange-traded fund, namely BMO Dow Jones Canada Titans 60 Index ETF and BMO U.S. Equity Hedged to CAD Index ETF, respectively. BMO Asset Management Inc., the manager of the underlying ETFs, has announced that changes to the investment objectives of the underlying ETFs were approved at a special meeting of unitholders. As a result, effective on or about Sept. 21, 2012, the underlying ETFs will seek to replicate the performance of new indices as summarized in the attached table.

                       ETF CHANGES

Underlying ETF         Ticker  New index               New name             

BMO Dow Jones Canada   ZCN     S&P/TSX Capped          BMO S&P/TSX Capped   
Titans 60 Index ETF            Composite Index         Composite Index ETF  

BMO US Equity Hedged   ZUE     S&P 500 Hedged to       BMO S&P 500 Hedged to
to CAD Index ETF               Canadian Dollars Index  CAD Index ETF        

The changes to the investment objectives of the underlying ETFs will result in corresponding changes to the investment strategies of the ETF index funds.

The underlying ETFs are managed and administered by BMO Asset Management, a portfolio manager, investment fund manager and a separate legal entity from Bank of Montreal.