BMONT Split Corp. Announces Partial Call for Redemption



    TORONTO, July 18 /CNW/ - BMONT Split Corp. (the "Company") announced
today that it has called 10,133 Preferred Shares for cash redemption on
August 5, 2008 (in accordance with the Company's Articles) representing
approximately 3.311% of the outstanding Preferred Shares as a result of the
special annual retraction of 38,400 Capital Shares by the holders thereof. The
Preferred Shares shall be redeemed on a pro rata basis, so that each holder of
Preferred Shares of record on August 1, 2008 will have approximately 3.311% of
their Preferred Shares redeemed. The redemption price for the Preferred Shares
will be $27.45 per share.
    Holders of Preferred Shares that are on record for dividends but have
been called for redemption will be entitled to receive dividends thereon which
have been declared but remain unpaid up to but not including August 5, 2008.
    Payment of the amount due to holders of Preferred Shares will be made by
the Company on August 5, 2008. From and after August 5, 2008 the holders of
Preferred Shares that have been called for redemption will not be entitled to
dividends or to exercise any right in respect of such shares except to receive
the amount due on redemption.

    BMONT Split Corp. is a mutual fund corporation created to hold a
portfolio of common shares of Bank of Montreal. Capital Shares and Preferred
Shares of BMONT Split Corp. are listed for trading on The Toronto Stock
Exchange under the symbols BMT and BMT.PR.A respectively.

    %SEDAR: 00020962E




For further information:

For further information: Investor Relations, BMONT Split Corp., Tel:
(416) 945-5368, Fax:(416) 863-7425, E-mail: mc_bmont@scotiacapital.com, Web
site: www.scotiamanagedcompanies.com

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BMONT SPLIT CORP.

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