BMO Bank of Montreal Decreases Mortgage Rates

    TORONTO, Jan. 20 /CNW/ - BMO Bank of Montreal today announced it is
decreasing its residential mortgage rates. BMO's special mortgage offer on a
five-year fixed rate drops to 4.49%, and is currently the lowest available
market rate for a five-year fixed term. The new rates are effective January
21, 2009.

    The new rates are:

    Variable Rates:                 To:        Change:
    3 year open                    4.00%       -0.50%

    Homeowner ReadiLine(R)
    5-year variable rate closed
    term                           4.00%       -0.50%

    Fixed Rate Special              To:        Change:
    5 Years (fixed/closed)         4.49%       -0.30%

    (*)This special discounted rate is not the posted rate 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 Offer may be withdrawn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: Contacts: Paul Gammal, Toronto, (416) 867-3996,, Internet:

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