BMO Bank of Montreal Changes Mortgage Rates

    TORONTO, Aug. 8 /CNW/ - BMO Bank of Montreal announced today it is
decreasing its residential mortgage rates, effective August 9, 2008. The new
rates are:

    Fixed Rates:                   To:      Change:
    6-month fixed convertible     6.21%      0.00%
    6-month fixed open            8.01%      0.00%
    1-year fixed open             8.80%     -0.30%
    1-year fixed closed           6.65%     -0.30%
    2-year fixed closed           6.70%     -0.30%
    3-year fixed closed           6.70%     -0.30%
    4-year fixed closed           6.69%     -0.30%
    5-year fixed closed           6.85%     -0.30%
    6-year fixed closed           7.10%     -0.30%
    7-year fixed closed           7.30%     -0.30%
    10-year fixed closed          7.65%     -0.30%
    18-year fixed open            8.95%      0.00%
    The Five-Year Protected Variable Rate ceiling changes to 6.85%.

    (The interest on fixed-rate mortgages compounds semi-annually, not in

    Special Offers(*)              To:      Change:
    3 year (fixed/closed)         5.69%     -0.30%
    5 year (fixed/closed)         5.79%     -0.30%
    7 year (fixed/closed)         5.89%     -0.30%
    Homeowner ReadiLine(R)        4.50%      0.00%
    5-year variable rate closed

    (*)These special discounted rates are not the posted rates of BMO Bank of
Montreal. Rates are subject to change without notice. Offer may be withdrawn
or extended without notice. Mortgage funds must be advanced within 90 days of
the application.

For further information:

For further information: Jodi Salem,, (416) 867-3996,

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