Bank of Montreal to Redeem $150,000,000 7.92% Debentures, Series 22, due 2012



    TORONTO, June 21 /CNW/ - Bank of Montreal will redeem all of its 7.92%
Debentures, Series 22, due 2012, on July 31, 2007.
    The Debentures are redeemable at Bank of Montreal's option from July 31,
2007 at a redemption price of 100 per cent of the principal amount plus unpaid
accrued interest to the redemption date. Interest on the Debentures will cease
to accrue from and after the redemption date.
    Bank of Montreal cited the high relative yield to current market rates as
the main reason for the redemption.

    Established in 1817 as Bank of Montreal, BMO Financial Group is a highly
diversified North American financial services organization. With total assets
of $357 billion as at April 30, 2007, and more than 35,000 employees, BMO
provides a broad range of retail banking, wealth management and investment
banking products and solutions. BMO Financial Group serves clients across
Canada through its Canadian retail arm, BMO Bank of Montreal, and through its
wealth management firms BMO Nesbitt Burns, BMO InvestorLine and BMO Harris
Private Banking. BMO Capital Markets, our North American investment and
corporate banking division, provides a full suite of financial products and
services to our North American and international clients. BMO also serves
personal and commercial clients in the United States through Chicago-based
Harris, an integrated financial services organization that provides more than
one million personal and business clients with banking, lending, investing,
financial planning, trust administration, portfolio management, family office
and wealth transfer services.





For further information:

For further information: Media Relations, Ralph Marranca, Toronto,
ralph.marranca@bmo.com, (416) 867-3996; Ronald Monet, Montreal,
ronald.monet@bmo.com, (514) 877-1101; Investor Relations, Steven Bonin,
Director, steven.bonin@bmo.com, (416) 867-5452; Krista White, Senior Manager,
krista.white@bmo.com, (416) 867-7019; Internet: www.bmo.com


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