Mr. Ralph Marranca reports

BANK OF MONTREAL ANNOUNCES ELECTION OF DIRECTORS

Bank of Montreal nominees listed in the bank's management proxy circular dated Feb. 6, 2015, have been elected as directors of BMO. The detailed results of the vote for the election of directors held at BMO's annual meeting earlier today in Toronto are set out in the attached table.

Each of the following 13 nominees proposed by management was elected as a director of Bank of Montreal.

Nominee                                   Votes for          Votes withheld

Janice M. Babiak             252,282,606      99.50%   1,257,830       0.50%
Sophie Brochu                251,683,665      99.27%   1,857,105       0.73%
George A. Cope               251,390,840      99.15%   2,148,825       0.85%
William A. Downe             251,936,826      99.38%   1,583,945       0.62%
Christine A. Edwards         252,389,215      99.55%   1,151,310       0.45%
Martin S. Eichenbaum         252,047,829      99.42%   1,472,695       0.58%
Ronald H. Farmer             251,968,359      99.39%   1,552,364       0.61%
Eric R. La Fleche            252,060,691      99.42%   1,460,080       0.58%
Lorraine Mitchelmore         252,169,709      99.47%   1,351,062       0.53%
Philip S. Orsino             251,118,610      99.05%   2,400,764       0.95%
Martha C. Piper              251,922,530      99.37%   1,588,836       0.63%
J. Robert S. Prichard        251,303,674      99.13%   2,216,374       0.87%
Don M. Wilson III            252,194,111      99.48%   1,321,582       0.52%

Final voting results on all matters voted on at the annual meeting of shareholders held earlier today will be published shortly on the BMO website, and filed with Canadian and United States securities regulators.