BMO Financial Group Announces Estimated Reinvested Distributions for BMO
Exchange Traded Funds (ETFs)

TORONTO, Dec. 18 /CNW/ - BMO Financial Group announces today the estimated 2009 tax year annual reinvested distributions for BMO Exchange Traded Funds (ETFs)*. These annual reinvested distributions generally represent realized capital gains within the ETFs or special dividends received by the ETFs. The reinvested distributions will be reported as taxable distributions and will be used to increase an investor's adjusted cost basis of the ETF. These estimated reinvested distributions do not include the fourth quarter cash distributions which are reported separately.

Unitholders of record on December 30, 2009 will receive the 2009 annual reinvested distributions. The actual taxable amounts of reinvested and cash distributions for 2009, including the tax characteristics of these distributions, will be reported early in 2010.

Please note that these are estimated amounts only as of December 16, 2009 and include forward looking information(xx) which may cause the estimate to change. Details of the estimated "per unit" reinvested distribution amounts are as follows:

    
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                                                         Estimated Reinvested
    BMO Exchange Traded Fund                      Ticker        Distribution
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    BMO Canadian Government Bond Index ETF          ZGB                  -
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    BMO Dow Jones Canada Titans 60 Index ETF        ZCN                  -
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    BMO US Equity Hedged to CAD Index ETF           ZUE           0.472888
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    BMO Dow Jones Industrial Average Hedged to
     CAD Index ETF                                  ZDJ           0.487350
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    BMO Short Federal Bond Index ETF                ZFS                  -
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    BMO Short Provincial Bond Index ETF             ZPS           0.008867
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    BMO Short Corporate Bond Index ETF              ZCS           0.003950
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    BMO High Yield US Corporate Bond Hedged
     to CAD ETF                                     ZHY           0.042626
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    BMO S&P/TSX Equal Weight Banks Index ETF        ZEB                  -
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    BMO S&P/TSX Equal Weight Oil & Gas Index ETF    ZEO                  -
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    BMO International Equity Hedged to CAD
     Index ETF                                      ZDM                  -
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    BMO Emerging Markets Equity Index ETF           ZEM                  -
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    BMO S&P/TSX Equal Weight Global Base Metals
     Hedged to CAD Index ETF                        ZMT                  -
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BMO ETF Products (www.bmo.com/etfs)

* BMO ETFs are managed and administered by Jones Heward Investment Counsel Inc., a wholly-owned indirect subsidiary of Bank of Montreal.

(xx) Forward-looking information

This notice contains forward-looking statements with respect to the estimated annual distributions for the ETFs. By their nature, these forward-looking statements involve risks and uncertainties that could cause the actual distributions to differ materially from those contemplated by the forward-looking statements. Material factors that could cause the actual distributions to differ from the estimated distributions include, but are not limited to: the actual amounts of distributions received by the ETFs; and subscription and redemption activity.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $388 billion as at October 31, 2009, and more than 36,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and solutions.

"Dow Jones," "Dow Jones Industrial Average", "Dow Jones Canada Titans 60", "DIAMONDS" and "Titans" are service marks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes. The BMO ETFs based on Dow Jones' indexes are not sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of trading in such ETFs.

Standard & Poor's(R) and S&P(R) are registered trademarks of Standard & Poor's Financial Services LLC ("S&P") and "TSX" is a trademark of Toronto Stock Exchange. These trademarks have been licensed for use by BMO. The BMO ETF is not sponsored, endorsed, sold or promoted by S&P or Toronto Stock Exchange, and S&P and Toronto Stock Exchange make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in the BMO ETF.

For further information: Media Contacts: Kasia Lech, Toronto, [e-mail], [phone]; Ronald Monet, Montréal, [e-mail], [phone]; Laurie Grant, Vancouver, [e-mail], [phone]; Internet: www.bmo.com